SAN RAFAEL, Calif., Feb. 15, 2002 — Fair, Isaac and Co. Inc. announced today that it recently signed an agreement with Canadian energy provider Hydro-Quebec for its Fair, Isaac Decision Systemà¢â€ž- and custom scorecards.
Decision System will become a central driver in enabling Hydro-Quebec to consistently and quickly assess risk for its entire commercial portfolio and make more profitable, customer-centric decisions.
“We are pleased to be working with one of Canada’s top energy providers to help improve their customer relationships and business performance,” said Mike Gandolfo, Vice President at Fair, Isaac. “The energy industry is not immune to the market pressures created by deregulation and competition. We also saw this happening in the telecommunications industry several years ago, and we believe that our analytics and decision technology are uniquely positioned to help thought- utilities like Hydro-Quebec balance risk, revenue and customer satisfaction,” he explained.
Hydro-Quebec will utilize Fair, Isaac’s analytics and decision engine technology to improve account management processes by enabling an objective and consistent process for evaluating its commercial customers’ creditworthiness, revenue potential and risk. Decision System will help Hydro-Quebec respond with the right customer treatment at the right time, build customer loyalty and minimize losses due to delinquency.
Normand Dignard, Account Receivable Management Director of Hydro-Quebec, said, “The industry’s continual changes will dramatically change the way we manage our customer relationships. With Decision System we can make fast, consistent and targeted decisions across all customer touch points, build strong, long-term relationships and improve overall profitability.”
Fair, Isaac’s Decision System has quickly emerged as the predominant decision engine technology since its introduction one year ago. Users can quickly design and implement analytically driven decision engines that can be executed in real time to consistently, accurately and automatically make complex business decisions that lead to improved business performance.
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 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® 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 – news) 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.
Created in 1944 by the Quebec government, its only shareholder, Hydro-Quebec supplies electricity to over 3.5 million Quebec customers. The company also does business with dozens of power companies in northeastern North America and participates in energy-related infrastructure projects on several continents. With assets of nearly $60 billion (CDN $), annual sales of $11.4 billion (CDN $) and a work force of approximately 19,500, Hydro-Quebec ranks among the leaders of the North American energy industry.