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FICO Begins Small Business Credit Score with Quod

March 01, 2021 / Ankur Saini

Today, FICO, a worldwide prescient examination and choice administration programming pioneer, and Quod, one of the biggest information knowledge organizations in Brazil, together launched a solution for credit hazard appraisal of small and medium-sized organizations (SMEs). To play out the investigation, the Quod Score PJ PME by FICO utilizes creative information sources, like information from the Positive Credit Registry and data about the organization and its accomplices, intended to be in full consistence with the General Data Protection Law (LGPD).

Similar to a customer financial assessment, the Quod Score PJ PME by FICO changes over the SME's credit profile information into a mathematical score that is intended to anticipate the likelihood of future installment. In view of the attributes of the organization and its accomplices, it joins enrollment information and credit conduct information to refine the danger estimate - its incorporated vision adds esteem, making investigation quicker and more precise.

The solution can be applied to SME credit items, advances, and rents across the existence cycle from obtaining and record the board to accumulations just as strategically pitching.

"As we expand into additional countries, FICO brings a depth of global analytic and scoring experience to enable faster, more precise credit decisions.  With the introduction of Quod Score PJ PME by FICO, we continue to safely expand credit access for small and medium-sized businesses in this key region," says Alexandre Graff, vice president and general manager of FICO Latin America and the Caribbean.

"Small and medium-sized companies are of great importance for job creation and the economy's resumption. However, the credit risk assessment process of these companies can often be expensive and time-consuming, which means that many loans are denied. In this scenario, the Quod Score PJ PME by FICO acts in an agile and consistent manner, enabling creditors to expand their SME credit portfolios and control risk with confidence," says Ricardo Thomaziello, Chief Data Officer at Quod.

The new score dispatch in Brazil further features FICO's worldwide development and energy. FICO is currently present in more than 30 nations including Mexico, the Philippines, African nations, India, and extra nations around the globe.

About FICO

A world leader in predictive analysis software, FICO specializes in examining data and applying technologies such as artificial intelligence, machine learning and analytics to predict consumer behavior, optimizing companies' interactions with their customers. Operating in more than 100 countries, the company has developed a cloud platform that contributes to making more than 10 billion business decisions a year and that protects 2.6 billion cards against fraud. FICO brings together more than 195 global patents on technologies that increase profitability and customer satisfaction, contributing to the growth of companies in various segments, such as finance, insurance, retail, telecommunications, among others. Founded in 1956 and headquartered in Silicon Valley, FICO opened its office in Brazil in 1998.

About Quod

Quod is one of the largest data intelligence companies in Brazil, authorized by the Central Bank to operate the Positive Data. Combining a large data set of its own, partner's data and cutting-edge technology, the company develops decision-making solutions for several purposes: customer prospecting, credit risk management, customer portfolio management, fraud prevention, compliance and collections intelligence. The company started operations in late 2018 and serves customers from all sectors of the economy, including financial institutions, insurance companies, retailers, telecommunications operators and small and medium-sized companies.