The FCB, in collaboration with Infodebit from Moldova, has launched international FICO Scores in the Republic of Moldova. Now banks, micro-finance organizations, telecom operators, and other lenders in Moldova can also use FICO Scores in their decision-making processes with regards to issuing loans, portfolio monitoring, issuing fast loans, and new products. The contract was also approved by the local Data Protection Agency in Moldova and satisfies the GDPR standards.
Ruslan Omarov, FCB СЕО: "We are developing proprietary expertise, and also using the best practices as set forth by global industry leaders. By using the bureau's solutions in conjunction with our own cards, the quality of decision-making and the efficiency of credit organizations have increased several times over. Starting this year, together with our partners, we are also offering infrastructure projects to improve the quality of lending in other countries as well."
FCB has been an official FICO provider since 2014 and has a license to distribute and sell FICO Scores, including in countries such as Kazakhstan, Kyrgyzstan, Moldova, as well as a number of Central Asian countries. The best expertise of the FCB in Kazakhstan in the field of predictive analytics, as well as the use of machine learning tools, allows it to expand the boundaries of consulting far beyond the country.
John Hadlow, Senior Consultant at FICO said: "The First Credit Bureau of Kazakhstan is an important regional partner for us. We highly value FCB's experience and data quality, which helps us to maintain and deliver high quality analytics to FCB for our mutual customers. We look forward to continuing to grow the relationship with FCB, across the region including our new project in the Republic of Moldova. Together we can empower lenders across the region with world class decisioning analytics, helping them grow even faster whilst promoting financial inclusion”.
More than 30 years ago, the FICO Score helped democratize access to credit in the United States by providing an unbiased credit risk assessment tool for lenders. FICO and its scoring solutions have been the independent standard for impartial evaluation of credit risk, trusted by lenders for decades around the world. Today’s challenge of bringing billions more consumers into mainstream financial services is just the next chapter in FICO’s innovation and intention to facilitate financial empowerment. FICO works with many credit bureaus around the world, with experience in over 30 countries, including in the USA, Turkey, Russia, Israel, and in Europe, and the Middle East.