Evolve Epic

1. Why This Change Matters Starting Fall 2025 , FICO will introduce two new scoring models— FICO® Score 10 BNPL and FICO® Score 10 T BNPL —that incorporate Buy Now, Pay Later (BNPL) data into credit scores.   Until now, these short-term, interest-free installment plans were invisible to credit bureaus, but FICO recognizes their importance in today’s borrowing landscape.   By integrating BNPL activity, lenders will gain a clearer, more accurate insight into consumers’ overall debt patterns and repayment habits. 2. The Mechanics of FICO’s New Models Data-driven development : FICO’s year-long partnership with Affirm analyzed over 500,000 BNPL borrowers , revealing how installment patterns impact creditworthiness. Smart aggregation : To avoid punishing consumers for regularly opening multiple small BNPL loans, FICO consolidates them into single variables before scoring. Parallel rollout : Both BNPL-inclusive models and the standard FICO Score 10 will be available concurre...

🌐 1. What is Open Finance? Open Finance extends Open Banking —which enables permissioned sharing of bank account data via APIs—to include a broader range of financial products such as savings, investments, pensions, mortgages, and insurance.   It empowers users to consolidate and manage their financial lives through a unified interface. Core principles include: Consumer consent and control , with granular and revocable permission settings. Standardized APIs that ensure secure interoperability among diverse platforms. Data portability and transparency , enabling users to migrate across providers and choose services that best fit their needs. 2. Why Build a Unified Financial Ecosystem? a) Enhanced Consumer Empowerment Users gain a comprehensive, real-time overview of spending, saving, investing, and insurance metrics, enabling better financial decisions. b) Innovation & Competition Breaking data silos spurs fintech firms and incumbents to deliver tailored tools—budge...