FICO Shakes Up Credit-Score Market

Core Insights - FICO has transformed the credit-scoring industry by enabling mortgage lenders to provide its FICO credit score directly, bypassing the traditional credit bureaus: Experian, Equifax, and TransUnion [1] Company Impact - The shift allows mortgage lenders to streamline their processes and potentially reduce costs associated with credit score access [1] - FICO's approach may lead to increased competition among credit scoring providers, impacting market dynamics [1] Industry Implications - The disruption in the credit-scoring industry could lead to changes in how creditworthiness is assessed and reported [1] - This innovation may influence consumer access to credit and the overall lending landscape [1]