Fair, Isaac and Company, Inc. announced that direct online automotive provider CarsDirect.com has signed a multi-year agreement to incorporate Fair, Isaac’s LiquidCredit broker engine into its technology platform. CarsDirect.com will leverage LiquidCredit’s decision technology to instantly evaluate customers’ applications for financing and match those scored applications with lending partner criteria — presenting the right financing options to on-line customers within just seconds.
“Using LiquidCredit will not only help us pre-qualify more auto shoppers for the appropriate financing package more quickly, it will also help us turn these shoppers into buyers by offering them real-time purchasing power,” said Gene Schutt, CEO of CarsDirect.com’s CD1 Financial.com unit. “Only LiquidCredit offered us the combination of technologies we need for real-time access to the best credit origination decisions.”
Forrester Research estimates that by 2005 the number of U.S. households that will buy cars online will reach 1.1 million households spending a total of $33 billion in car sales.
“CarsDirect.com is a great example of how Fair, Isaac’s decision technology can boost leading and emerging e-businesses,” said Raffi Kassarjian, General Manager of Fair, Isaac’s LiquidCredit business unit. “LiquidCredit delivers the infrastructure and intelligence that optimizes CarsDirect.com’s Web-based automotive financing application process.”
LiquidCredit offers a Web-based decision engine, credit reporting agency interface, associated transaction management tools and the ability for businesses to design their own decision criteria and strategies, all delivered through a Web-centric service. The result is the right credit offer to the right customer at the right time.
Using the speed and cost savings of the netsourced (ASP) model, LiquidCredit provides clients with Fair, Isaac’s “gold standard” analytics and decision technology. In addition to LiquidCredit broker engine, Fair, Isaac also offers two other versions of LiquidCredit: decision engine for e-tailers and financial service providers with a Web presence, and application engine for financial service providers.
About Fair, Isaac
Fair, Isaac is a global provider of customer analytics and decision technology. Widely recognized for its pioneering work in credit scoring, Fair, Isaac revolutionized the way lending decisions are made. Today the company helps clients in multiple industries increase the value of customer relationships. Fair, Isaac has made the Forbes list of the top 200 U.S. small companies seven times in the last eight years, and was named by InformationWeek as one of the top 50 application service providers. Headquartered in San Rafael, California, Fair, Isaac has 20 offices worldwide.Details