Fair Isaac: Pricing The Standard
Fair Isaac Corporation, known for its FICO score, has historically dominated the credit scoring market but lacked significant pricing power. The introduction of the general-purpose FICO score in 1989 and its adoption by government-sponsored enterprises in 1995 solidified its market position. Despite its monopoly in market share, the company faced challenges in leveraging that position for pricing advantages.
- ▪Fair Isaac released the first general-purpose FICO score in 1989.
- ▪The adoption of FICO scores by government-sponsored enterprises in 1995 contributed to its market dominance.
- ▪Despite its monopoly market share, Fair Isaac had limited pricing power in the credit scoring industry.
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