FICO® Resilience Index
Innovative models that help lenders understand consumer sensitivity to economic stress
The FICO® Resilience Index, paired with the FICO® Score, provides an additional way to evaluate the performance of portfolios at any point in the credit lifecycle, including periods of economic uncertainty. This allows financial institutions to manage potential latent risk within groups of consumers bearing similar FICO Scores, without cutting off access to credit for more resilient consumers.
To address the big challenges brought on by the pandemic, Experian is offering the FICO® Resilience Index 2, the next generation of the FICO® Resilience Index. This new model was designed to predict a consumer’s underlying credit risk associated with a severe economic downturn and offers greater predictive power over its predecessor. This solution enables more intelligent credit decisions, account management, and portfolio review processes that minimize risk and accelerate growth.
By incorporating the FICO® Resilience Index into your lending processes, you can gain deeper insight into consumer sensitivities for more precise credit decisioning.
Better predictive power
Up to 100% increase in resilience predictive power compared to the original version and can predict likelihood of consumer payment accommodations, an indicator of financial stress
Expanded use cases
Now includes bankcard account origination, existing account origination and account management use cases across other lending industries, including mortgage, auto, and personal loans
Applicable across economic cycles
Can be used during recovery and growth phases of the economy, as well as early-stage collections and more
Lenders can leverage FICO® Resilience Index and FICO® Resilience Index 2 to:
- Rank-order consumers by sensitivity to economic stress
- More accurately assess loan portfolio vulnerability
- Refine acquisition strategies to reduce credit risk
- Enhance account management decisioning
- Estimate loss allowances under stressed economic scenarios
- Improve regulatory stress testing assessments
Manage potential latent risk for groups of consumers within the same range of FICO® Scores
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