Providian Selects Fair, Isaac Analytics to Sharpen Credit Marketing and Account Management Strategies SAN RAFAEL, Calif.--(BUSINESS WIRE)--May 2, 2002--Fair, Isaac and Company, Incorporated (NYSE:FIC) announced today that Providian Bancorp Services, a leader in consumer financial services and one of the largest credit card issuers in the nation, has signed a significant contract for Fair, Isaac's analytic, consultative and scoring services. Providian will access Fair, Isaac's industry-leading credit bureau scores for credit prescreening through the company's PreScore(R) Service and for account management through ScoreNet(R) Service. In addition, Fair, Isaac will provide custom analytic and consulting services to support the integration of FICO(R) scores with Providian's consumer card portfolio of over 12 million customer accounts. "Providian has a strong tradition of using innovative proprietary decisioning technologies to drive its marketing and underwriting decisions," said Warren Wilcox, Vice Chairman of Planning and Marketing at Providian. "By adding Fair, Isaac products and analytics to that mix, we expect to further enhance the quality of our targeting and decisioning. In addition to providing their industry-leading PreScore and ScoreNet services, Fair, Isaac will provide a team of dedicated consultants to help us intelligently integrate their products into our existing decision-making processes." To sharpen its credit marketing, Providian will utilize Fair, Isaac credit bureau scores provided through PreScore Service to further refine its marketing target segments and overall credit risk assessment, and support risk-based pricing. The card issuer will work with Fair, Isaac strategy consultants to incorporate the FICO scores with Providian's credit policies, internal scores and marketing objectives for more effective and profitable prescreen campaigns. ScoreNet is an efficient, reliable information delivery service. By streamlining the time-consuming tasks of obtaining, auditing and processing credit reporting agency information, ScoreNet will enable Providian to focus its resources and time on using that valuable information in improved customer management decisioning. "Today's best financial services leaders are looking for ways to creatively and effectively use credit bureau data for a competitive edge," said Cheri St. John, Vice President of Global Data Repositories at Fair, Isaac. "Fair, Isaac credit bureau scores yield valuable insight into what competitive offers are reaching prospects. Whether used on their own or combined with proprietary scores, FICO scores can help clients attract new customers and grow revenues while appropriately controlling risk at the same time. Our deep analytic and consultative expertise, coupled with Providian's internal knowledge, will be a key component to their success as they focus their efforts on acquiring and retaining accounts in their middle to prime target segments." Fair, Isaac's PreScore and ScoreNet services have supported the nation's leading financial services institution in their credit marketing and underwriting efforts for more than a decade. PreScore and ScoreNet are used to market and manage bankcard and retail cards, home equity, mortgage and installment loans, and are designed for lenders of all sizes across a wide spectrum of industry segments, including secured and unsecured portfolios and prime and sub-prime lenders. About Fair, Isaac Fair, Isaac is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive modeling, decision analysis, intelligence management and decision engine systems power more than 14 billion decisions a year. Founded in 1956, Fair, Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce risk and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair, Isaac's analytic solutions, as do insurers, retailers, telecommunications providers and other customer-oriented companies. Through the www.myFICO.com Web site, consumers use the company's FICO(R) scores, the standard measure of credit risk, to manage their financial health. Headquartered in San Rafael, California, Fair, Isaac is traded on the New York Stock Exchange (NYSE:FIC) and for the fiscal year ended September 30, 2001, reported net income of $46 million on revenues of $329 million. For more information, visit www.fairisaac.com. About Providian San Francisco-based Providian Financial (NYSEVN) is a leading provider of credit cards and deposit products to customers throughout the United States. Except for historical information contained herein, the statements contained in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the company's ability to derive expected revenues from new contracts, recruit and retain key technical and managerial personnel, the maintenance of its existing relationships with key alliance partners, its ability to continue to develop new and enhanced products and services, competition, regulatory changes applicable to the use of consumer credit and other data and other risks described from time to time in Fair, Isaac's SEC reports, including its Form 10-Q for the period ended December 31, 2001 and Annual Report on Form 10-K for the year ended September 30, 2001. Fair, Isaac disclaims any intent or obligation to update these forward-looking statements. CONTACT: Fair, Isaac, San Rafael Debbie McGowan, 415/492-5309 (Investors & Analysts) dmcgowan@fairisaac.com Angela Carlson, 415/492-5373 (Media) acarlson@fairisaac.com SOURCE: Fair, Isaac Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com © Copyright 2002 Business Wire. All rights reserved. 05/02/2002 10:02 BW
