Narayan AmmachchiUS data analytics firm FICO has acquired Brazilian credit risk management consultancy GoOn, gaining wider access to thousands of potential clients in the lucrative Brazilian financial market.
The financial details of the deal were not disclosed.
Founded in 2002, GoOn provides risk consulting services for the entire consumer credit life cycle. It is reported to have many deep-pocketed clients in Brazil’s banking, retail, insurance, and real estate sectors. Moreover, it has trained more than 12,000 credit management professionals and most of whom work for its clients.
FICO’s technology assets, combined with Goon’s skilled human talent, will create a powerful company in Brazil’s credit market, say analysts.
“As part of FICO, the worldwide leader in analytic solutions for financial services, we will bring even greater technical depth to Brazilian credit grantors, as well as more advanced analytics,” said Fernando Manfio, founder of GoOn.
Based in Silicon Valley, FICO holds more than 190 US and foreign patents on technologies embedded in a string of financial products ranging from credit cards to payment apps.
“GoOn has built a strong reputation for credit excellence, based on the tremendous expertise and experience of its expert consultants,” said Alexandre Graff, general manager for FICO in Latin America.
“We are proud to bring them onto our team, and provide their knowledge of best practices to our clients. As we grow in Brazil and throughout Latin America, our customers demand the kind of world-class consulting the GoOn team provides.”
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