WebEquity Solutions and FICO Partner to Improve Small Business Lending in U.S.

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New offering to expedite, standardize and increase profitability of small business loans for lending institutions.

WebEquity Solutions®, a leading commercial lending software provider and FICO, a leading predictive analytics and decision management software company, today announced that they are working together to help improve how banks and credit unions compete for small business loans. The companies plan to integrate the FICO® Small Business Scoring ServiceSM solution (SBSSSM solution) with WebEquity’s commercial lending platform, enabling financial institutions to expedite, standardize and mitigate risk with small business lending decisions, as well as improve loan servicing and portfolio risk management. The integrated solution, WebEquity® Small Business powered by FICO, will be available in October 2013.

FICO SBSS solution is the leading service for scoring small business credit decisions. The software uses sophisticated analytic models and a decisioning engine to enable small business credit grantors to assess credit risk, comply with regulatory requirements, and offer fast responses to small business applicants through process automation and instant risk assessment. The small business scoring service provides both commercial and agriculture models. WebEquity is the fastest growing commercial lending platform in the U.S., with 800 lending institution clients. Its solutions perform full credit analysis, manage ongoing credit relationships and conduct exception analysis, portfolio reporting, stress testing and risk management.

"Small business lending is a mission-critical growth strategy for banks and credit unions of all sizes – and a critical growth lever for the American economy," said Doug McGregor, CEO of WebEquity. "Our financial institution clients are asking for tools that help them make small business lending easier, faster and less risky. Through our partnership with FICO, we’re able to give them a huge competitive advantage – a technology solution that balances the need for fast decisions with the thorough analysis required to manage risk and compliance for sound and fair decisioning."

WebEquity Small Business powered by FICO will give financial institutions the ability to:

  • Say "yes" faster – make decisions quickly through an automated, standardized process.
  • Streamline data entry – automate the flow of data from tax forms and financial statements to FICO models for improved data accuracy and reduced effort.
  • Reduce small business lending risks and substantiate fairness – make informed lending decisions that are well-documented and based on consistent processes and objective, validated scoring models.
  • Increase market opportunity – efficient access to advanced decisioning tools and scoring models makes competing for small business more profitable.

The companies have implemented joint solutions with several institutions across the country, including Suffolk County National Bank in Riverhead, New York. Since deployment, Suffolk Bank has reduced small business lending decision times from two days to two hours, which has greatly increased its ability to compete for loans.

"Demand for credit from small businesses is intense, and lenders must respond in real time with offers closely tailored to the applicant’s needs," said Bill Waid, general manager, Americas at FICO. "The integrated solution from WebEquity and FICO will open up new avenues of profitable growth in small business lending for WebEquity’s clients, by enabling them to rise to applicant’s demands by improving the speed in which they can assess risk and tailor offers."

FICO and WebEquity will formally introduce its integrated offering to more than 240 lending professionals and clients at WebEquity’s Annual Client Conference on Sept 24 in Omaha, Nebraska. Industry professionals interested in learning more about the partnership and solution can attend a webcast on October 10 and October 24, at 1:00pm (CT) and can register online at webequitysolutions.com/webinars.

About WebEquity Solutions LLC

WebEquity® is the proven leader in on-demand lending software. More than 790 financial institutions and 20,000 lending professionals use WebEquity to automate and streamline their lending process and reduce operational costs, while making more uniform and profitable credit decisions. The company offers financial institutions a distinct advantage with a single solution that works for all loan types, an on-demand model that provides centralized, anywhere access, and the flexibility to configure the system so it fits their lending practices. WebEquity serves institutions in the U.S., Canada and Australia. WebEquity is the Preferred Service Provider of the Independent Community Bankers of America (ICBA) for commercial/Ag lending, stress testing and ALLL software. For more information call 800.264.0787 or visit http://www.webequitysolutions.com.

About FICO

FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 80+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company’s groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption — such as the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at http://www.fico.com.

Statement Concerning Forward-Looking Information

Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business 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 success of the Company’s Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO’s SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2012 and its last quarterly report on Form 10-Q for the period ended June 30, 2013. If any of these risks or uncertainties materializes, FICO’s results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.

FICO, Small Business Scoring Service, SBSS and "Make every decision count" are trademarks, registered trademarks or service marks of Fair Isaac Corporation in the United States and in other countries. WebEquity and WebEquity Solutions are registered trademarks of WebEquity Solutions LLC.

Company Contacts:

Mallory Eberle
Marketing Manager                        
WebEquity Solutions                    
mallory.eberle(at)webequitysolutions(dot)com        
402.344.5252

Elisabeth Hershman for FICO
Vice President
IQ PR Inc.
ehershman(at)iqprinc(dot)com
212.289.6734

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Mallory Eberle
WebEquity Solutions
(402) 344-5252
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