FICO (FICO)
Licenses FICO Scores and decision software for lending, fraud and optimization.
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Fair Isaac sells two very different things. One is a number: the credit score a lender pulls before granting a mortgage, a car loan or a card, earning a fee every time. The bureaus that resell that score also own the rival score — and the housing regulator has just told the government-backed mortgage buyers to accept the rival too. The other is the software banks use to make those decisions, now being rebuilt.
Item facts: FY2026 · nine months ended Jun 30, 2026, from filings, earnings calls and company pages.
Judgment weights, not filed revenue
The band summarizes business focus and direction. ~ marks estimates.
8 in detail · 14 more below
FICO Score — mortgage originations
The fee charged every time a score is pulled to underwrite a home loan, and the single biggest line in the company. Revenue nearly doubled last quarter on price alone, with loan volumes barely up. In September the housing regulator told Fannie Mae and Freddie Mac to accept the rival score from any lender.
Competes with VantageScore 4.0 for mortgages (VantageScore Solutions) · Bureau-built risk scores (Experian)
In plain English
Every mortgage application starts with the lender pulling the borrower's credit file, and a FICO Score comes stapled to it. Fair Isaac charges a few dollars for that pull and keeps nearly all of it — the score was built once, so each extra copy costs almost nothing to make.
The money arrives through three middlemen: Experian, TransUnion and Equifax, the credit bureaus that assemble those files. Together they were 60% of all revenue in the nine months to June, each one above a tenth on its own. They also jointly own VantageScore, the score competing for the very same slot.
FICO Score 10T
The newer mortgage score, handed to lenders at no extra cost beside the classic one so they can test it on their own loans. More than seventy lenders are trying it, covering roughly $590 billion of yearly lending — none of it paying extra yet.
Competes with VantageScore 4.0 (VantageScore Solutions) · Classic FICO (Fair Isaac)
In plain English
Treat the classic FICO Score as a recipe written decades ago. 10T is the updated recipe: it reads how a borrower's balances moved over time, not only where they stand on the day.
The catch is that nobody has to switch. Fannie Mae and Freddie Mac's rulebook still points at the old score, so Fair Isaac gives 10T away next to it and lets lenders rehearse on real files — the two released historical 10T data in July, and lenders approved under the federal FHA home-loan programme can underwrite with it from January 2027. It earns a price only once lenders actually move.
FICO Mortgage Direct License Program
A second route that sells mortgage scores straight to lenders and their software vendors rather than only through the bureaus. Resellers covering about 60% of mortgage volume have signed on, aiming at roughly 90%, but Fannie Mae and Freddie Mac have still to approve it.
Competes with Three-in-one credit file bundles (TransUnion) · VantageScore 4.0 at a dollar a pull (Equifax)
In plain English
Today the score reaches a lender wrapped inside the bureaus' three-in-one credit file, and the bureaus add their own markup: a score priced at $4.95 last year reached lenders at about $10. This program opens a second road.
On it a lender pays either $10 per score up front, or 99 cents a pull plus $65 when the loan actually closes. Shopping for borrowers becomes nearly free; only loans that complete pay real money. Management says the two roads bring in about the same either way. Nothing starts, though, until Fannie Mae and Freddie Mac sign off — and as of late July they had not.
FICO Scores — auto, card, personal loan and other
Scores pulled for car loans, cards, personal loans, insurance and routine checks on existing borrowers — the half no rulebook requires. Car-loan scoring revenue grew 15% last quarter and card and personal loan 9%, and no single lender here is big enough to be named on its own.
Competes with VantageScore 4.0 bundled free (Equifax) · Lender-built custom scorecards (Experian) · AI underwriting models (Zest AI)
In plain English
Away from mortgages the same number gets pulled constantly: when you finance a car, ask for a credit card, get pre-screened for an offer, or when a bank quietly re-checks customers it already lends to. Some US insurers license a FICO score as well.
Each pull is a small fee and the sheer count is what makes it add up. Nothing forces the choice here — no rulebook names FICO — so Equifax and TransUnion hand their own VantageScore to car, card and consumer-finance buyers free alongside it. Hence a line that grows steadily rather than sharply, with the odd lumpy multi-year renewal on top.
FICO Platform
The new software banks rent to run lending decisions, fraud checks and customer messages from one set of parts. Subscriptions on it reached $413M a year, up 62%, passing the older products for the first time. Most of that growth is FICO's own customers moving across.
Competes with PowerCurve decisioning suite (Experian) · Customer Decision Hub (Pegasystems) · Cloud-native decision engine (Provenir)
In plain English
Picture a bank's lending department as a row of machines: one decides who gets approved, one watches for fraud, one sends the letters and texts. This is a single kit of parts that can be wired up to do any of them, rented by the year and billed by how much gets used.
Customers on it spend about half again what they spent a year ago, and FICO is working a list of five hundred large institutions it wants on board, with Accenture and TCS helping install. The honest caveat: most of the growth so far is FICO walking its own older customers over, not banks new to FICO.
FICO Falcon Fraud Solutions
FICO's fraud-spotting system, watching card payments, money transfers and new account openings for patterns that look wrong. Its edge is scale: the network behind it learns from data contributed by more than ten thousand institutions. FICO does not say how much of software revenue it is.
Competes with Actimize fraud platform (NICE) · Payments fraud detection (ACI Worldwide) · Enterprise fraud stack (IBM)
In plain English
Somebody has to judge, quietly and constantly, whether the card payment going through right now is really you and whether the person opening an account is a person at all. Falcon is the machinery that does that judging inside banks and card issuers.
It works better the more it has seen, and it has seen a great deal — the network behind it draws on data contributed by more than ten thousand institutions, so a trick that surfaces at one bank is familiar at the next. Banks pay for it as part of their FICO software, year after year, on both the new platform and the older products.
Non-platform applications portfolio
The pre-platform estate banks still run — TRIAD account management, Blaze Advisor rules, customer messaging, optimisation tools. Still the bigger half of software revenue, yet subscriptions fell 17% to $403M as FICO retires old products and moves customers onto the new platform.
Competes with PowerCurve Originations (Experian) · Decision and fraud application stack (SAS Institute) · Identity decisioning platform (Alloy)
In plain English
The unglamorous half that pays for a lot of what comes next. These are programs banks, card issuers and phone companies installed years ago on their own machines: one manages card limits and collections, one holds the rules that decide who gets approved, one sends the reminder letters and texts.
They pay a licence, often several years at a time, which makes the money arrive in lumps. The base is shrinking partly on purpose — FICO promises the new platform will do everything the old product did before retiring it — and partly not: some customers who would rather skip the move renew with a cloud-native rival instead, and messaging volumes have softened.
myFICO.com and FICO Score Open Access
Consumers paying by the month to see the same scores their lender will pull, plus scores that banks buy and hand to their customers free. Growth is modest — up 5% last quarter, led by the partners that distribute it — against apps giving a rival score away.
Competes with Credit Karma free monitoring (Intuit) · Consumer membership tiers (Experian) · CreditWise (Capital One)
In plain English
You can already see a credit score free in half a dozen apps. The snag is that those apps usually show VantageScore, while the lender deciding on your house or your car pulls a FICO Score, and a particular version of it. myFICO sells the real article by subscription, roughly twenty to forty dollars a month, mostly to people about to apply for something big.
There is a quieter second channel. Banks and Experian buy FICO Scores and give them to their own customers at their own expense — FICO still gets paid, and the number people grow up watching is the one lenders use.
FICO Score — mortgage originationsThe fee charged every time a score is pulled to underwrite a home loan, and the single biggest line in the company. Revenue nearly doubled last quarter on price alone, with loan volumes barely up. In September the housing regulator told Fannie Mae and Freddie Mac to accept the rival score from any lender.The fee charged every time a score is pulled to underwrite a home loan, and the single biggest line in the company. Revenue nearly doubled last quarter on price alone, with loan volumes barely up. In September the housing regulator told Fannie Mae and Freddie Mac to accept the rival score from any lender.
In plain English
Every mortgage application starts with the lender pulling the borrower's credit file, and a FICO Score comes stapled to it. Fair Isaac charges a few dollars for that pull and keeps nearly all of it — the score was built once, so each extra copy costs almost nothing to make.
The money arrives through three middlemen: Experian, TransUnion and Equifax, the credit bureaus that assemble those files. Together they were 60% of all revenue in the nine months to June, each one above a tenth on its own. They also jointly own VantageScore, the score competing for the very same slot.
Competes with VantageScore 4.0 for mortgages (VantageScore Solutions) · Bureau-built risk scores (Experian)
FICO Score 10TThe newer mortgage score, handed to lenders at no extra cost beside the classic one so they can test it on their own loans. More than seventy lenders are trying it, covering roughly $590 billion of yearly lending — none of it paying extra yet.The newer mortgage score, handed to lenders at no extra cost beside the classic one so they can test it on their own loans. More than seventy lenders are trying it, covering roughly $590 billion of yearly lending — none of it paying extra yet.
In plain English
Treat the classic FICO Score as a recipe written decades ago. 10T is the updated recipe: it reads how a borrower's balances moved over time, not only where they stand on the day.
The catch is that nobody has to switch. Fannie Mae and Freddie Mac's rulebook still points at the old score, so Fair Isaac gives 10T away next to it and lets lenders rehearse on real files — the two released historical 10T data in July, and lenders approved under the federal FHA home-loan programme can underwrite with it from January 2027. It earns a price only once lenders actually move.
Competes with VantageScore 4.0 (VantageScore Solutions) · Classic FICO (Fair Isaac)
FICO Mortgage Direct License ProgramA second route that sells mortgage scores straight to lenders and their software vendors rather than only through the bureaus. Resellers covering about 60% of mortgage volume have signed on, aiming at roughly 90%, but Fannie Mae and Freddie Mac have still to approve it.A second route that sells mortgage scores straight to lenders and their software vendors rather than only through the bureaus. Resellers covering about 60% of mortgage volume have signed on, aiming at roughly 90%, but Fannie Mae and Freddie Mac have still to approve it.
In plain English
Today the score reaches a lender wrapped inside the bureaus' three-in-one credit file, and the bureaus add their own markup: a score priced at $4.95 last year reached lenders at about $10. This program opens a second road.
On it a lender pays either $10 per score up front, or 99 cents a pull plus $65 when the loan actually closes. Shopping for borrowers becomes nearly free; only loans that complete pay real money. Management says the two roads bring in about the same either way. Nothing starts, though, until Fannie Mae and Freddie Mac sign off — and as of late July they had not.
Competes with Three-in-one credit file bundles (TransUnion) · VantageScore 4.0 at a dollar a pull (Equifax)
FICO Scores — auto, card, personal loan and otherScores pulled for car loans, cards, personal loans, insurance and routine checks on existing borrowers — the half no rulebook requires. Car-loan scoring revenue grew 15% last quarter and card and personal loan 9%, and no single lender here is big enough to be named on its own.Scores pulled for car loans, cards, personal loans, insurance and routine checks on existing borrowers — the half no rulebook requires. Car-loan scoring revenue grew 15% last quarter and card and personal loan 9%, and no single lender here is big enough to be named on its own.
In plain English
Away from mortgages the same number gets pulled constantly: when you finance a car, ask for a credit card, get pre-screened for an offer, or when a bank quietly re-checks customers it already lends to. Some US insurers license a FICO score as well.
Each pull is a small fee and the sheer count is what makes it add up. Nothing forces the choice here — no rulebook names FICO — so Equifax and TransUnion hand their own VantageScore to car, card and consumer-finance buyers free alongside it. Hence a line that grows steadily rather than sharply, with the odd lumpy multi-year renewal on top.
Competes with VantageScore 4.0 bundled free (Equifax) · Lender-built custom scorecards (Experian) · AI underwriting models (Zest AI)
FICO PlatformThe new software banks rent to run lending decisions, fraud checks and customer messages from one set of parts. Subscriptions on it reached $413M a year, up 62%, passing the older products for the first time. Most of that growth is FICO's own customers moving across.The new software banks rent to run lending decisions, fraud checks and customer messages from one set of parts. Subscriptions on it reached $413M a year, up 62%, passing the older products for the first time. Most of that growth is FICO's own customers moving across.
In plain English
Picture a bank's lending department as a row of machines: one decides who gets approved, one watches for fraud, one sends the letters and texts. This is a single kit of parts that can be wired up to do any of them, rented by the year and billed by how much gets used.
Customers on it spend about half again what they spent a year ago, and FICO is working a list of five hundred large institutions it wants on board, with Accenture and TCS helping install. The honest caveat: most of the growth so far is FICO walking its own older customers over, not banks new to FICO.
Competes with PowerCurve decisioning suite (Experian) · Customer Decision Hub (Pegasystems) · Cloud-native decision engine (Provenir)
FICO Falcon Fraud SolutionsFICO's fraud-spotting system, watching card payments, money transfers and new account openings for patterns that look wrong. Its edge is scale: the network behind it learns from data contributed by more than ten thousand institutions. FICO does not say how much of software revenue it is.FICO's fraud-spotting system, watching card payments, money transfers and new account openings for patterns that look wrong. Its edge is scale: the network behind it learns from data contributed by more than ten thousand institutions. FICO does not say how much of software revenue it is.
In plain English
Somebody has to judge, quietly and constantly, whether the card payment going through right now is really you and whether the person opening an account is a person at all. Falcon is the machinery that does that judging inside banks and card issuers.
It works better the more it has seen, and it has seen a great deal — the network behind it draws on data contributed by more than ten thousand institutions, so a trick that surfaces at one bank is familiar at the next. Banks pay for it as part of their FICO software, year after year, on both the new platform and the older products.
Competes with Actimize fraud platform (NICE) · Payments fraud detection (ACI Worldwide) · Enterprise fraud stack (IBM)
Non-platform applications portfolioThe pre-platform estate banks still run — TRIAD account management, Blaze Advisor rules, customer messaging, optimisation tools. Still the bigger half of software revenue, yet subscriptions fell 17% to $403M as FICO retires old products and moves customers onto the new platform.The pre-platform estate banks still run — TRIAD account management, Blaze Advisor rules, customer messaging, optimisation tools. Still the bigger half of software revenue, yet subscriptions fell 17% to $403M as FICO retires old products and moves customers onto the new platform.
In plain English
The unglamorous half that pays for a lot of what comes next. These are programs banks, card issuers and phone companies installed years ago on their own machines: one manages card limits and collections, one holds the rules that decide who gets approved, one sends the reminder letters and texts.
They pay a licence, often several years at a time, which makes the money arrive in lumps. The base is shrinking partly on purpose — FICO promises the new platform will do everything the old product did before retiring it — and partly not: some customers who would rather skip the move renew with a cloud-native rival instead, and messaging volumes have softened.
Competes with PowerCurve Originations (Experian) · Decision and fraud application stack (SAS Institute) · Identity decisioning platform (Alloy)
myFICO.com and FICO Score Open AccessConsumers paying by the month to see the same scores their lender will pull, plus scores that banks buy and hand to their customers free. Growth is modest — up 5% last quarter, led by the partners that distribute it — against apps giving a rival score away.Consumers paying by the month to see the same scores their lender will pull, plus scores that banks buy and hand to their customers free. Growth is modest — up 5% last quarter, led by the partners that distribute it — against apps giving a rival score away.
In plain English
You can already see a credit score free in half a dozen apps. The snag is that those apps usually show VantageScore, while the lender deciding on your house or your car pulls a FICO Score, and a particular version of it. myFICO sells the real article by subscription, roughly twenty to forty dollars a month, mostly to people about to apply for something big.
There is a quieter second channel. Banks and Experian buy FICO Scores and give them to their own customers at their own expense — FICO still gets paid, and the number people grow up watching is the one lenders use.
Competes with Credit Karma free monitoring (Intuit) · Consumer membership tiers (Experian) · CreditWise (Capital One)
Named in filings, launches and programs
- Professional servicesServiceInstallation and consulting work alongside the software, $55.0M in the nine months to June and down 24% last quarter as a prior-year milestone did not repeat.
- Classic FICOProductThe decades-old mortgage score the Fannie Mae and Freddie Mac rulebook still points at — the version most home loans are still underwritten on.
- UltraFICO ScoreProduct · RampingA score built with Plaid that adds the applicant's own bank-account history, generally available from May 2026 and aimed at thinner-file card, loan and car borrowers.
- FICO MarketplaceEcosystemAn online shelf of outside data and fraud tools — LexisNexis, Mitek, Plaid, Prove, SentiLink and others — nearly seventy partner offerings by August 2026.
- Next Generation FICO PlatformPlatform · AnnouncedThe rebuilt version of the platform, which management expects to reach general release later in calendar 2026.
- FICO Focused Foundation ModelProductA general-purpose model trained for financial services, released around November 2025; management has said little about it on the calls since.
- FICO Enterprise Fraud SolutionProductNamed in the FY2025 annual report as one of the year's platform developments, bringing fraud work onto the newer software.
- TRIAD Customer ManagerProductLong-running software for managing card accounts after approval — limits, renewals, collections — and one of the larger older products being migrated.
- Blaze AdvisorProductThe rules engine where a bank writes down its lending policy so software can apply it consistently; installed widely before the platform existed.
- Customer Communication ServicesProductAutomated calls, texts and letters to borrowers; usage softened as customers delayed or downsized outreach programmes, a named drag on the older software line.
- Xpress OptimizationProductMathematical optimisation tools used to pick the best combination of prices, limits or offers under constraints; sold on its own before the platform.
- Originations SolutionProductThe older packaged system for handling loan applications end to end, now being superseded by the same job done on the platform.
- Analytics WorkbenchProductThe bench where a bank's own analysts build and test scoring models; one of the tools listed in the FY2025 annual filing.
- Decision ModelerProductSoftware for laying out and testing a decision before it goes live, part of the pre-platform toolset still in use at customers.
Professional servicesService
Installation and consulting work alongside the software, $55.0M in the nine months to June and down 24% last quarter as a prior-year milestone did not repeat.
Classic FICOProduct
The decades-old mortgage score the Fannie Mae and Freddie Mac rulebook still points at — the version most home loans are still underwritten on.
UltraFICO ScoreProduct · Ramping
A score built with Plaid that adds the applicant's own bank-account history, generally available from May 2026 and aimed at thinner-file card, loan and car borrowers.
FICO MarketplaceEcosystem
An online shelf of outside data and fraud tools — LexisNexis, Mitek, Plaid, Prove, SentiLink and others — nearly seventy partner offerings by August 2026.
Next Generation FICO PlatformPlatform · Announced
The rebuilt version of the platform, which management expects to reach general release later in calendar 2026.
FICO Focused Foundation ModelProduct
A general-purpose model trained for financial services, released around November 2025; management has said little about it on the calls since.
FICO Enterprise Fraud SolutionProduct
Named in the FY2025 annual report as one of the year's platform developments, bringing fraud work onto the newer software.
TRIAD Customer ManagerProduct
Long-running software for managing card accounts after approval — limits, renewals, collections — and one of the larger older products being migrated.
Blaze AdvisorProduct
The rules engine where a bank writes down its lending policy so software can apply it consistently; installed widely before the platform existed.
Customer Communication ServicesProduct
Automated calls, texts and letters to borrowers; usage softened as customers delayed or downsized outreach programmes, a named drag on the older software line.
Xpress OptimizationProduct
Mathematical optimisation tools used to pick the best combination of prices, limits or offers under constraints; sold on its own before the platform.
Originations SolutionProduct
The older packaged system for handling loan applications end to end, now being superseded by the same job done on the platform.
Analytics WorkbenchProduct
The bench where a bank's own analysts build and test scoring models; one of the tools listed in the FY2025 annual filing.
Decision ModelerProduct
Software for laying out and testing a decision before it goes live, part of the pre-platform toolset still in use at customers.