The Benefit Company Adopts Global FICO Score

The Benefit Company of Bahrain has implemented Global FICO® Score to enhance the decision making process of credit grantors across the entire credit lifecycle.

Fair Isaac Corporation’s Global FICO Score rank-orders consumers according to their credit risk. Designed to be consistently scaled across credit bureaus and across national borders, Global FICO Score has established the global standard for consumer credit risk assessment. The Fair Isaac technology underlying the Global FICO scoring model enables quick deployment in any country that has robust credit bureau data.

As the Credit Reference Bureau of Bahrain, The Benefit Company provides extensive credit information to the lending community of Bahrain. Implemented for the first time in the GCC Region by a Middle East credit bureau, Global FICO Score complements the current decision-support technology of The Benefit Company. The bureau can now provide a highly predictive and consistent risk score to credit grantors wanting to evaluate consumer risk, streamline decision processes and increase profitability.

PIC Solutions is the Fair Isaac alliance partner for the Middle East Africa region. During this assignment, PIC’s experienced consultants will work closely with The Benefit Company to ensure the successful implementation of Global FICO Score.

Robin Watson, Assistant General Manager of The Benefit Company, comments, “We are excited about using Global FICO Score to provide a highly predictive risk assessment to our clients. By using Global FICO Score, lenders throughout Bahrain can sharpen their evaluation of consumer risk, speed up decision processes and improve their bottom line results. PIC Solutions is recognised in the Middle East market as leaders in providing leading edge credit risk solutions and we look forward to working with them on this assignment.”

Ian Read, General Manager of the Middle East region at PIC Solutions, adds, “Global FICO Score increases the predictive power of credit bureau data and ensures credit grantors have a more consistent and effective evaluation of their clients credit profile. We are pleased to be involved with implementing the first Global FICO Score for a Middle East credit bureau. Our experienced consultants have extensive credit bureau experience and their understanding of the dynamics impacting the Middle East market will ensure that The Benefit Company experiences the full benefits of this scoring solution.”