Collection Software Provider CR Software Acquired by FICO

FICO (NYSE: FICO), the leading provider of analytics and decision management technology, Monday announced it has acquired CR Software, LLC, a leading provider of enterprise-class collections and recovery solutions for credit issuers, government organizations, collection agencies, retailers, healthcare providers and other enterprises. The transaction has closed, and terms are not being disclosed.

Established in 1984, CR Software has more than 28 years’ experience implementing collections and recovery solutions. CR Software currently supports more than 300 public and private organizations, including the State of Oregon, the State of Mississippi, the State of Maryland, NCO, Schumacher Group, Sallie Mae, and Genpact.

CR Software’s principal product, the Titanium ORE™ (Open Receivables Environment) solution, offers business-user driven configuration, industry-specific functionality, scalability and security unlike any other software provider. Titanium serves as a System of Record (SoR), a true extension of the user’s host system, and simplifies, automates and coordinates collections and recovery operations across the enterprise, leading to higher returns. Titanium’s modern architecture enables real-time data integration with virtually any client system. Organizations using Titanium run the gamut from large organizations with many thousands of concurrent users to companies with just a few active users, and these clients have consistently achieved a high ROI with the Titanium solution.

“CR Software is the ideal company to help FICO extend our analytics-based collections and recovery offerings to multiple industries, as well as credit grantors of all sizes,” said Will Lansing, FICO CEO. “Collections efforts are increasingly being viewed as part of the customer experience, with the quality of customer treatments affecting not only short-term results but also long-term retention. Given our domain expertise in this area, businesses across industries routinely approach us for advice and best-in-class solutions. Now, when combined with our Adeptra customer engagement capabilities and our robust analytics tools and models, CR Software’s products and people will help us meet this demand and extend beyond our strong position in financial services.”

“FICO has long been a pioneer in providing advanced collections and recovery solutions to the financial services industry, with solutions built around FICO Debt Manager,” said Martin Germanis, CR Software CEO. “Today, organizations such as governments, healthcare entities, agencies and retailers are demanding the same kind of enterprise-strength solutions as financial services institutions, but tailored to their specific needs. CR Software complements FICO’s strengths and expands FICO’s portfolio with a solution that yields superior ROI in multiple industries, the public sector and smaller collections agencies.”

For more information, visit www.fico.com/CRsoftware.