Credit & Decision Making Software "UBS Credit Landscape Symposium Takeaw..."

Research evidence excerpt

Credit & Decision Making Software "UBS Credit Landscape Symposium Takeaw..."

Global Research

9 June 2026ab

Credit & Decision Making Software Equities

AmericasUBS Credit Landscape Symposium Takeaways

from FICO Software

Kevin McVeigh

Analyst

kevin.mcveigh@ubs.com

Presenter: +1-212-882 0081

Dave Singleton - VP, Investor Relations at FICO Bruna Werneck

Associate Analyst

Takeaways: bruna.werneck@ubs.com

Share repurchase—FICO announced an accelerated $2B [~7.5% market cap] +1-212-882 5955

buyback—seeing recent AI-concern related weakness as an opportunity—this

Olivia Bradlee

follows other covered companies including Cognizant. Associate Analyst

olivia.bradlee@ubs.com Direct License go live—announced Oct-25—waiting for one GSE approval to go

+1-212-713 1227

live. Two tests—score calculation and system integrators are needed, which have

been concluded and finalized by the resellers.

Direct License timing+ adoption—FICO experts the program to go live over the

summer, similar to FICO 10T. While three of the five primary resellers have already

committed, FICO is pursuing additional some of the remain resellers and

eventually expects ~90% to adopt it.

FHFA Director Pulte is now also acting Director of National Intelligence—

Director Pulte has bene appointed Acting Director of National Intelligence. While

this could create some near term distraction, a meaningful change in the

regulatory landscape isn't expected.

Scores competition—amid news that wholesale mortgage + purchase lender

UWM is offering VantageScore for conventional loans, FICO believes a market

with two credit scores could fuel a larger addressable market.

Auto and consumer—predictiveness is the main factor for scores usage as FICO

sees still additional IP opportunity in this space and more pricing opportunity.