BrazilBrazilian risk management consultancy GoOn acquired by FICO
Brazilian credit risk management consultancy GoOn has been snapped up by FICO, a data analytics firm based in the United States.
“As we grow in Brazil and throughout Latin America, our customers demand the kind of world-class consulting the GoOn team provides,” said Alexandre Graff, who leads FICO in Latin America. "We are proud to bring them onto our team, and provide their knowledge of best practices to our clients.”
From its office in São Paulo, GoOn provides risk consulting for the entire consumer credit lifecycle, working for players in the financial services industry (banks, credit cards, insurance companies) and other organisations that deal with consumer credit, such as real estate and telecom companies. The firm’s track record since inception in 2002 spans over 1,100 completed projects. On top of its consultancy portfolio, GoOn offers training & education services – the firm has trained more than 12,000 credit management professionals at Brazilian companies.
“GoOn has built a strong reputation for credit excellence, based on the expertise and experience of its expert consultants,” commented Graff, who did not disclose financial details of the deal.
Asked why GoOn decided to join the larger US company, Fernando Manfio, founder of GoOn, said “As part of FICO we will bring even greater technical depth to Brazilian credit grantors, as well as more advanced analytics. We will further play a greater part in making the Brazilian credit market more mature and successful.”
Founded in 1956, FICO is one of the globe’s larger firms specialised in analytic solutions. Businesses in more than 100 countries use FICO solutions for data science support – credit card companies for instance use the software to protect payments from fraud, while airlines and rental car companies use the firm’s tooling for operational planning of fleet. FICO offers its services and products to clients across a range of industries, including financial services, manufacturing, telecommunications, health care, retail and many more.
As part of the integration, GoOn consultants and other staff will be merged into FICO Brazil, with the deal not expected to have a material impact on FICO's 2019 financial results.
“Our mission is to promote the evolution of credit management in Brazil, combining technical and human knowledge to produce positive social and financial impacts. While benefitting from FICO’s technology assets, we will keep acting with the same connection and trust,” concluded Manfio.
In other recent transactions in Brazil’s consulting industry, Accenture in December last year completed the purchase of marketing agency New Content, while three months previous, Brazilian management consulting firm Mirow & Co entered into a partnership with Scandinavian-origin consultants Qvartz.
