Fair Isaac refreshes the Classic FICO scoring model.

• Position: New Products - Brief article

The Classic FICO credit-risk scoring model from air Isaac Corp., San Rafael, Calif., was modified in September, improving its predictive power by 5 to 15 percent, according to the company.

The changes will not affect important existing features, such as the score range of 300-850, the company adds.

The initiative is part of file company's periodic refreshment of file scoring model. The company expects tiffs revision to deliver greater performance upgrades than any previous redevelopment.

"We are confident that this update to the Classic FICO scoring model will provide superior risk performance across the entire spectrum of credit risk," says Ron Totario, the company's vice president of scoring solutions. "Also, it has been designed to be easy for lenders to adopt the new models without making major operational adjustments."

The Company says...