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FICO — DealerRefresh Vendor Library
FICO provides credit scoring and analytics used by lenders and dealers to assess borrower risk and make financing decisions.
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FICO provides credit scoring and analytics used by lenders and dealers to assess borrower risk and make financing decisions.
What you do with it
assess borrower creditworthiness and risk, so they can make faster, more accurate financing decisions
When a dealer needs to approve or decline a customer's financing application
identify high-risk borrowers before approving credit, so they can minimize loan defaults and charge-offs
When a dealer wants to reduce losses from defaults and bad loans
qualify borderline applicants by understanding their true credit risk, so they can approve more customers and capture sales competitors would lose
When a dealer needs to compete with other lenders for the same customer
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