Fair, Isaac's TRIAD To Process 5 Million CIBC Credit Card Accounts; Adoption Of TRIAD 7 Broadens Fair, Isaac Relationship With Canadian Imperial Bank Of CommerceSAN RAFAEL, Calif., Dec. 19, 2002 -- Fair, Isaac and Company, Incorporated (NYSE:FIC) announced today that its industry-leading TRIAD(TM) adaptive control system will help Canada's largest issuer of Visa and general purpose credit cards make more profitable portfolio and individual account-level customer treatment decisions. Under the agreement, Fair, Isaac's TRIAD 7.0 will serve as the single strategy engine platform to service Canadian Imperial Bank of Commerce's (CIBC) more than 5 million Visa credit card accounts at TSYS (NYSE:TSS), a global provider of electronic transaction services for some of the world's best known and most respected financial institutions and retailers. "After using TRIAD for almost 10 years, we have seen consistently good results in the decision areas that are most critical to our bottom-line," said Christine Croucher, executive vice president of Card Products at CIBC. "Fair, Isaac is a trusted partner with considerable expertise, experience and a solid reputation as an industry leader. We are confident that this strategic conversion of our growing credit card portfolio to the TRIAD platform will be beneficial for us and our customers." The three-year agreement builds upon Fair, Isaac's existing relationship with CIBC. CIBC has been using the client-installed version of Fair, Isaac's TRIAD adaptive control system to manage its card portfolio for nearly a decade and will transition its accounts to TRIAD 7.0 at TSYS by early 2003. TRIAD has over 90 percent of retail market share and over 80 percent of financial services market share in Canada. "We are delighted to broaden our relationships with CIBC through this new agreement," said Andrew Jennings, Fair, Isaac vice president of Strategy Machines--Lifecycle Solutions, Account Management. "TRIAD continues to deliver major benefits to our clients and processor partners around the world. Our TRIAD 7 platform provides CIBC with the ability to improve account profitability while conveniently managing and processing every credit card account through one system." TRIAD adaptive control system enables the world's leading lenders to automate and improve credit account management. It facilitates the process of developing and implementing different credit and marketing strategies, using predictive analytics to forecast future account performance. In a controlled learning environment called "champion/challenger testing," and through detailed reporting generated by the system, credit issuers are able to accurately assess the performance of strategies and rapidly evolve new ones to adapt to changing consumer behaviors and economic conditions. About Fair, Isaac Fair, Isaac and Company (NYSE:FIC) is the preeminent provider of creative analytics that unlock value for people, businesses and industries. The company's predictive modeling, decision analysis, intelligence management, decision management systems and consulting services power more than 25 billion mission-critical customer decisions a year. Founded in 1956, Fair, Isaac helps thousands of companies in over 60 countries acquire customers more efficiently, increase customer value, reduce fraud and credit losses, lower operating expenses and enter new markets more profitably. Most leading banks and credit card issuers rely on Fair, Isaac solutions, as do insurers, retailers, telecommunications providers, healthcare organizations and government agencies. Through the www.myfico.com Web site, consumers use the company's FICO(R) scores, the standard measure of credit risk, to manage their financial health. As of August 5, 2002, the business of HNC Software Inc., a leading provider of high-end analytic and decision management software, is part of Fair, Isaac. For more information, visit www.fairisaac.com. About CIBC CIBC is a leading North American financial institution offering more than 8 million personal banking and business customers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. CIBC is also Canada's leading credit card issuer and offers a broad range of choice and value. To find other news releases and information about CIBC, visit the bank's media center at www.cibc.com. About TSYS TSYS (NYSE: TSS) (www.tsys.com) brings integrity and innovation to the world of electronic payment services as the integral link between buyers and sellers in this rapidly evolving universe. Synovus (NYSE: SNV) owns an 81.8-percent interest in TSYS. For more information, contact news@tsys.com. Except for historical information contained herein, the statements contained in this press release that relate to Fair, Isaac, including statements regarding its TRIAD system and the benefits to be derived from TRIAD, 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 any unforeseen technical difficulties related to the implementation use and functionality of the offering, the risks that customers will not perceive material benefits from the offering, failure of the product to deliver the expected results, the possibility of errors or defects in the offering, the company's ability to recruit and retain key technical and managerial personnel, the maintenance of its existing relationships with key alliance partners, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair, Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2002, and Form 10-Q for the period ended June 30, 2002. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair, Isaac's results could differ materially from Fair, Isaac's expectations in these statements. Fair, Isaac disclaims any intent or obligation to update these forward-looking statements. Fair, Isaac, TRIAD, HNC and FICO are trademarks or registered trademarks of Fair, Isaac and Company, Incorporated, in the United States and/or in other countries. Other product and company names herein may be trademarks of their respective owners. --30--ac/sf*
CONTACT: Fair, Isaac
Debbie McGowan, 415/492-5309 (Investors/Analysts)
dmcgowan@fairisaac.com
or
Angela Carlson, 415/492-5373 (Media)
acarlson@fairisaac.com
|