article thumbnail

FICO Fact: How Current is the Data in my FICO Score?

FICO

The UltraFICO Score™ empowers consumers to leverage their checking and savings account data to enhance their score. When the UltraFICO Score™ uses this demand deposit account (DDA) data, it’s current as of the day prior to the score pull. UltraFICO Score™ Product Page. FICO® Score XD Product Page.

article thumbnail

Secure, Standardized Data Sharing Empowers Consumers & Promotes Innovation

FICO

eCommerce companies use data for a number of purposes, such as to personalize the experience of users across mobile apps and the web, suggest purchases and make it easier to find high-intent products. Consumers can now permission their demand deposit account (DDA) data for inclusion into the UltraFICO TM Score.

article thumbnail

Payment Platforms Evolving As Faster Payments Take Root

PYMNTS

In a recent interview with PYMNTS, Tammi Shapiro, vice president of product strategy and management at financial services provider Fiserv , laid out some of the ways in which businesses — especially the most traditional, in the largest of verticals and also across new payments technologies — can accept payments in new ways.

article thumbnail

FICO World 2023: Four Enterprise Fraud Management Takeaways

FICO

There is also growing impact to traditional card portfolios, not just demand deposit accounts (DDA) and real-time payments channels. Debbie is responsible for the products’ strategic direction and enabling enterprise use cases across a global client base. Debbie holds a B.A.

article thumbnail

Leveraging DDA Data in Consumer Lending to Stay Competitive

FICO

Q: Some lenders only ask applicants for access to DDA data permissioned by them when it’s an absolute requirement (e.g., However, you conducted a test where you offered ALL applicants for a retail credit product the opportunity to provide DDA data permissioned by them for consideration.

article thumbnail

The Venture Investing Road Less Traveled: Funding Enablers, Not Challengers

PYMNTS

With critical infrastructure in place, they can fast-track new products and services, and work with the likes of Visa and Mastercard to transform payment ecosystems. That’s especially true in the consumer lending and demand deposit account (DDA) startups. It’s overfunded by a lot.”.

article thumbnail

Why Credit Isn’t Working For Financial Inclusion

PYMNTS

But for many financial institutions, the use of credit as a determining factor on whether to provide access to banking products or not transforms the decision from one based on identity to one based on credit – a choice that can subsequently lock millions out of the financial world. GETTING FROM “NO” TO “YES”.