A pioneer credit score company, FICO was founded in 1956 as Fair, Isaac and Company by engineer Bill Fair and mathematician Earl Isaac. FICO was first headquartered in San Rafael, CA, United States.
Selling its first credit scoring system two years after the company's creation, sales of similar systems soon followed. In 1987 FICO went public. That year also saw the introduction of the first general-purpose FICO score when BEACON debuted at Equifax.
Originally called Fair, Isaac and Company, it was renamed Fair Isaac Corporation in 2003. The company rebranded again in 2009, changing its name and ticker symbol to FICO.
FICO also sells a product called Falcon Fraud Manager for banks and corporations, which is a neural network-based application designed to fight fraud by proactively detecting unusual transaction patterns.
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