FNBO Teams Up with FICO to Expand Its Credit Transparency Program, Leading to More Financially Empowered Consumers

FICO (NYSE: FICO)

Highlights

• Through its participation in the enhanced FICO Score consumer education program, FNBO helps empower customers with the information they need to be more in control of their everyday finances
• Since the launch of FNBO Credit Watch℠ in June 2023, over 17% of FNBO’s online consumer credit card customers have enrolled
• FNBO has won a 2024 FICO Decisions Award for Financial Inclusion

For more than ten years, FNBO (First National Bank of Omaha), one of the largest privately held banks in the United States, has worked with analytic software leader FICO to offer FICO Scores to its customers by participating in the FICO Score Open Access program. This access creates and cultivates more financially aware, literate consumers by allowing them to view their FICO Score directly on their online account or mobile app. Expanding on its success with FICO Score Open Access, FNBO introduced an enhanced and feature-rich consumer education program known as FNBO Credit Watch℠.

Through the FNBO Credit Watch℠ program, FNBO customers can access their FICO Score and view up to five positive and negative factors that impact their FICO Score. These additional factors help educate customers and allow them to make more informed credit decisions. Customers further understand the impacts of opening new lines of credit, paying down debt and paying bills on time. Since the launch of FNBO Credit Watch in June 2023, nearly 500,000 customers have joined the program in the first nine months. This accounts for 17% of FNBO’s online consumer credit card population.

“The benefits of the FICO Score Open Access and FNBO Credit Watch programs have been tremendous,” said Jerry O’Flanagan, executive vice president at FNBO. “The transparency has enabled our customers to be more in control of their everyday finances. This knowledge and empowerment transfers to other significant customer financial decisions, whether it is obtaining a home mortgage, starting a small business, or buying a car.”

With FNBO’s Credit Watch℠, real time credit inquiry alerts also help customers monitor their accounts by supporting early detection of identity theft and fraud. These features support the company’s ongoing focus to encourage financial well-being and deepen relationships with customers.

“FNBO’s efforts in furthering credit transparency go hand in hand with FICO’s focus on financial literacy and empowerment,” said Nikhil Behl, chief marketing officer and executive vice president at FICO. “It is important for consumers to have access to their FICO Score, the credit score that is used by 90% of top U.S. lenders, and we applaud FNBO’s decision to make it easier than ever for their customers to access this valuable information.”