When facing severe financial stress such as that brought about by an economic downturn, lenders often seek to reduce their credit risk exposure by executing tactics at the portfolio level. But, what if lenders were able to factor consumer-level risk adjustments into such decisions rather than using coarser levers?
Meet FICO® Resilience Index, a new analytic tool to help capture consumer credit risk linked to unexpected economic stress. A 2-digit score ranging from 1 to 99 (with higher values representing higher sensitivity to financial stress), FICO Resilience Index is designed for use in conjunction with FICO Scores 5, 8, and 9 and is delivered with up to five reason codes that help lenders better understand the output as well as support adverse action communication, if necessary.
Download the product sheet for FICO Resilience Index today to learn more.