FICO launched the general availability of its UltraFICO Score featuring consumer-permissioned bank account data. The product integrates Plaid’s financial data network to analyze account balance stability and spending patterns. This approach combines real-time cash flow behavior with traditional credit bureau information.
The enhanced score targets consumers with limited credit histories to improve overall credit access. FICO analysis indicates the new model could increase loan approvals by 7% without raising lender risk.
UltraFICO maintains the same numerical scale as traditional FICO Scores. This consistency allows for immediate integration into existing U.S. lending frameworks.