New Internet Service to Revolutionize How SmallBusinesses Grant Credit; Small Business Credit...

SAN FRANCISCO, Calif.--(BUSINESS WIRE)--June 22, 1998--A revolutionary new Internet service designed to help small businesses make better credit decisions was unveiled today by Fair, Isaac and Company, Inc. (NYSE: FIC) and Net Earnings.

CreditFYISM (www.creditfyi.com) is an easy-to-use service

Targeted to the more than 10 million small businesses in the U.S. -- specifically those that extend credit to other small businesses -- CreditFYI is the first product offered by the newly formed strategic alliance between Fair, Isaac and Net Earnings. Fair, Isaac is the leader in decisioning technology that pioneered the predictive models used by 23 of the top 25 banks extending credit to small businesses. Net Earnings is a leader in providing Internet-based financial services to the small business mass market. Data will be provided by Experian, an expert in small business risk management services that maintains credit information about millions of small businesses.

Currently, small businesses are forced to rely on lengthy business credit reports, pursue trade references, or use pure guesswork when deciding whether or not to extend credit. "The simple, straightforward interface and superior information provided by CreditFYI will absolutely revolutionize how small businesses grant credit," said Latimer Asch, vice president of Commercial Markets at Fair, Isaac.

How CreditFYI Works

When a small business is asked to extend business credit to one of its customers (e.g., net 30-day terms), the business must decide if that customer's level of credit risk is acceptable. CreditFYI helps small businesses make this determination quickly and easily. All a user needs to do is submit the customer's name and address and then provide credit card information. In less than one minute, a CreditFYI Evaluation is delivered -- a one-screen overview of the company's credit highlights (e.g., satisfactory trade payments, late payments, bankruptcies, liens, collections), plus an assessment of the customer as a relatively low, moderate, high, or very high credit risk. The information provided in the CreditFYI Evaluation is derived from Experian's national file on small businesses. If the level of information available does not support a comprehensive CreditFYI Evaluation, a CreditFYI Summary is issued instead, showing available information. A CreditFYI Evaluation costs $14.95; CreditFYI Summaries are $4.95.

According to Mike Grossman, co-founder and CEO of Net Earnings, "CreditFYI is the fastest, easiest and most affordable way for small companies to evaluate the creditworthiness of the small businesses they serve. CreditFYI provides tremendous added value, because it helps small businesses make better decisions and manage their cash flow more effectively."

Grossman emphasized that CreditFYI Evaluations will not make decisions for small business owners. Rather, the Evaluations will provide critical information to facilitate a better-informed decision by offering an assessment of relative credit risk that the business extending credit can consider and weigh along with other relevant information, such as prior relationships or the amount of credit desired.

Security on the site is a priority. The service makes use of the latest encryption technology, Secure Socket Layer (SSL), as well as sophisticated firewalls to ensure that no unauthorized persons can access sensitive information. In addition, as part of CreditFYIthird party, beyond the minimum information necmarketing, personal lines insurance, retail, and healthcare. With headquarters in San Rafael, California, Fair, Isaac employs more than 1,300 people in 16 offices worldwlogy and small business expertise to offer smalimpossible: the ability to conduct financial trthe financial services they need. Net Earnings