Who founded FICO?

The correct answer is Bill Fair and Earl Isaac, who co-founded FICO in 1956. FICO, originally known as Fair, Issac and Company, is a data analytics company that is best known for developing the FICO score, which is widely used in the credit scoring industry to assess credit risk. This foundational aspect of FICO's formation highlights the importance of credit scoring in financial decision-making and the role that Fair and Isaac played in revolutionizing how financial institutions evaluate consumers' creditworthiness.

Understanding the influence of Fair and Isaac on the credit industry helps emphasize the significance of credit scores in personal finance and lending practices today. Their innovation laid the groundwork for modern credit scoring systems, impacting millions of consumers' ability to obtain loans and manage their financial health.