Recently, FICO, the US credit decision-making scoring giant, announced that it will establish a joint venture with the well-known AI financial company Ruizhi Technology in the United Nations: Feizhe Ruizhi Information Technology (Beijing) Co., Ltd.
FICO officially stated that this will be the main way FICO engages and develops new business in China.
FICO has entered the Chinese market for 14 years. In the early days when local credit risk management was relatively weak, it trained a large number of outstanding risk control talents for the Chinese financial industry.
Half of the executive team of Ruruizhi Technology is from FICO China. Among them, Chairman Chen Jian is the former FICO China President; Executive Vice President Li Yong will be the former FICO China Sales Vice President; COO Chen Yajuan is the original FICO China Big Data Operations Director; CTO Mingfu Su is the former FICO China Technical Director; Vice President Huang Jinyan has served as FICO China Business Consulting Director.
In addition, JD Digital Vice President Cheng Jianbo, former Alibaba Microfinance General Manager Lou Jianxun, Lufax former CRO Li Xiaozhong, Tongdun Technology Vice President Yu Xuxin and others have also served in FICO.
If American Express is the Whampoa Military Academy for Chinese risk control, then FICO China is the Whampoa Military Academy for risk control in the Mainland.
, the protagonist of this incident, Ruizhi Technology, according to Xinliu Finance and Economics, one of its main external services is FICO big data scoring, which is also its core competitiveness in the industry. Even in July this year, news of a listing plan came out.
On the one hand, Ruizhi has an exclusive cooperation with FICO big data scoring business in China. If domestic financial institutions want to cooperate with FICO scoring, they need to pass Ruizhi Technology. Ruizhi Technology has integrated a large number of data resources including many personal behavior characteristics in China, and FICO provides technical support and credit endorsement for it. The establishment of a joint venture company by
is a win-win business for both parties.
For Ruizhi Technology, its core competitiveness has been further strengthened, and for FICO, it will help to gain a foothold in the Chinese market.
Recently, Experian, an international credit reporting giant that has been in China for 15 years, suddenly announced its withdrawal from the mainland market without warning, shocking the entire credit reporting industry. According to analysis by industry insiders, Experian’s withdrawal was due to weak revenue growth on the one hand, and also affected by various laws, policies, and regulations, and its core business personal credit investigation has been difficult to expand in China. The
incident has also led to a question that people in the industry often think about: Can today's credit technology foreign companies in China make rapid progress in the Chinese financial market?
Perhaps, the combination of FICO and Wisdom will set a good model for the industry.
Leifeng.com (public number: Leifeng.com)
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