|FICO Partners with Operation HOPE to Improve Consumer Financial Health|
Analytics software firm FICO (NYSE: FICO) and
"We are honored to partner with FICO to provide additional resources to our clients," said
"FICO is excited to partner with Operation HOPE to help consumers with their financial well-being," said
HOPE Inside has allowed private financial institutions to scale, and sustainably package and deliver, financial literacy and empowerment programming. Though HOPE Inside had its genesis in bank branches, widespread market adoption continues to bring sponsored offices to government facilities, grocery stores, hospitals, college campuses, and other community locations, including
"HOPE Inside has been quietly moving credit scores within communities an average of 120 points over 18-24 months," said Bryant. "We work to get bankers out of the 'no' business, and into the 'yes' business, by helping to rehabilitate the credit, financial, and overall well-being profile of the HOPE client, and the future bank borrower, and by extension, the community as a whole."
Now, HOPE Inside financial well-being coaches can share FICO® Scores with consumers for free to help educate them on their credit standing and provide key insights to enable them to better understand their financial health. In addition, coaches can help consumers see the information lenders use to manage credit accounts including the top factors affecting their score.
"FICO Scores are used in more than 90 percent of consumer lending decisions in the U.S. Partnering with Operation HOPE to help consumers understand the scores lenders actually use to rate creditworthiness is a critical part of helping consumers take control of their personal finances," said Wehmann.
FICO has made a deep commitment to furthering transparency, credit education, and consumer empowerment through new products, partnerships, services, and programs. For example, the FICO® Score Open Access program allows financial institutions, including lenders as well as credit and financial counselors, to provide FICO® Scores, for free, to existing customers so they better understand their overall financial health.
For more information regarding the FICO® Score and Operation HOPE partnership, attend the FICO
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Since 1992, Operation HOPE has been moving America from civil rights to "silver rights" with the mission of making free enterprise and capitalism work for the underserved. Through its core programs, the nonprofit has provided financial dignity and economic empowerment to over 2.6 million individuals worldwide, and $2 billion in economic activity for the disenfranchised—turning check cashing customers into banking customers, renters into homeowners, small business dreamers into small business owners and minimum wage workers into living wage consumers.
Project 5117 is HOPE's multi-year four-pronged approach to combating economic inequality that aims to improve financial literacy, increase business role models and business internships for youth, and stabilize the American dream by boosting credit scores. Operation HOPE recently received its second consecutive 4-star charity rating for fiscal management and commitment to transparency and accountability by the prestigious non-profit evaluator, Charity Navigator—further establishing it as a best-in-class organization. For more information: www.OperationHOPE.org. Follow Operation HOPE on
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Media: Greg Jawski, Porter Novelli, +1 212-601-8248, firstname.lastname@example.org; Investors/Analysts: Steven Weber, FICO, +1 800-213-5542, email@example.com