goPeer Becomes First Peer-to-Peer Lending Platform to Provide FICO® Scores for Free to Canadian Consumers
goPeer’s peer-to-peer lending platform provides Canadian consumers access to transparent credit information through the FICO® Score Open Access program
TORONTO–(BUSINESS WIRE)–$FICO–Global analytics software firm FICO (NYSE: FICO) announced today that goPeer, a peer-to-peer lending platform in Canada, will provide FICO® Scores to its customers for free through the FICO® Score Open Access program. Becoming the first peer-to-peer lending platform in Canada to leverage the FICO® Score Open Access program, goPeer aims to educate consumers by increasing transparency through its borrowing process.
“As a company that champions financial wellness, we are continually innovating to offer consumers the best experience,” said Marc-Antoine Caya, CEO of goPeer. “This collaboration with FICO allows us to empower our borrowers to improve their financial wellbeing with even more insights into their credit with their FICO Score, key factors, and educational content.”
Allowing Canadian consumers to access their FICO® Score provides greater insight to help them understand it and determine how lenders may view their credit risk. The ability for consumers to check their FICO® Score will provide them with increased confidence in financial decision making and greater overall financial literacy.
“FICO Score Open Access program empowers consumers to take charge of their financial future,” said Kevin Deveau, vice president and general manager of FICO US and Canada Sales. “With FICO Scores being used by 90% of the top Canadian lenders and credit unions, our partnership with goPeer helps Canadian consumers have the opportunity to access their score and understand the role of credit in daily life.”
The FICO® Score Open Access program allows lenders to help educate customers about their FICO® Scores by providing comprehensive and transparent information to help them understand their scores. Across the U.S. and Canada, hundreds of lenders are participating in the FICO® Score Open Access program to provide FICO® Scores to consumers for free. Offering free access to FICO® Scores is part of FICO and goPeer’s initiative toward providing improved credit education and transparency to Canadian consumers.
Learn more about FICO® Score Open Access Canada here: https://www.fico.com/en/latest-thinking/solution-sheet/fico-score-open-access-canada.
goPeer is a Toronto-based financial technology company that connects modern investors with credit-worthy Canadians looking for a loan. goPeer’s marketplace uses technology to eliminate inefficiencies in the consumer lending process, resulting in better rates for borrowers, while offering investors access to a high-yield asset class.
Learn more at www.gopeer.ca.
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail, transportation and supply chain, and many other industries. Using FICO solutions, businesses in nearly 120 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of rental cars are in the right place at the right time.
Learn more at www.fico.com.
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