FICO CEO Mark Greene: "We Need to Rebuild the Relationship Between Banks and Customers"

NEW YORK, Nov. 2, 2011 /PRNewswire/ -- FICO World Conference -- In his keynote address today at FICO World, the leading international conference on analytic strategies for financial services, FICO CEO Mark Greene declared that the global economic recovery will require banks to rebuild healthy relationships with consumers.

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"This is a consumer-led recession, and it will need a consumer-led recovery," said Greene, speaking to a sold-out audience of 700 bankers from 42 countries. "We can't just turn consumer confidence and consumer spending on without some fundamental changes taking place. And the relationship between banks and consumers is a critical piece of this recovery."

Greene echoed the conference's theme of "Game Changers" and said banks need game-changing new ways of understanding their customers in order to restore trust and build growth. He cited as examples new analytics that can determine a consumer's credit capacity, their credit risk in a future economic cycle, and their likelihood of strategically defaulting on their mortgage.

"Rebuilding the relationship with consumers has to start with understanding," continued Greene. "It has to start with knowing enough about your customer to make them an offer they can't refuse, at a price they can afford, with service they can't get anywhere else. By rebuilding the relationship with consumers, we will rebuild their prosperity and be on the path to economic recovery."

After Greene spoke, renowned investment analyst Meredith Whitney also offered her perspectives on the most pressing challenges to the U.S. economy and the impact of those challenges on banks.

FICO World 2011, the company's 34th corporate conference, is under way at the Sheraton Hotel and Towers in New York City and will continue through Friday, November 4. Sponsors include First American Core Logic, CPqD, Bull, Equifax, The Five Star Institute, NIIT Technologies, Adeptra, Mattersight, FIS and TSYS. For conference news and updates, visit www.ficoworld.com.

About FICO

FICO (NYSE:FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company's groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO's innovative solutions include the FICO® Score — the standard measure of consumer credit risk in the United States — along with industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world's top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through www.myFICO.com. Learn more at www.fico.com. FICO: Make every decision count™.

For FICO news and media resources, visit www.fico.com/news.

Statement Concerning Forward-Looking Information

Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2010 and its last quarterly report on Form 10-Q for the period ended June 30, 2011. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.

FICO and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.

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