Question-and-Answer Session
Operator
[Operator Instructions]. Our first question is from the line of Mark Bacurin.
Mark Bacurin - Robert W. Baird & Co., Inc.
Good afternoon. A couple of questions. Can you hear me?
Mark N. Greene - Chief Executive Officer
Yes.
Charles M. Osborne - Vice President and Chief Financial Officer
Yes.
Mark Bacurin - Robert W. Baird & Co., Inc.
Okay, great. First on the Scoring surprises, you see that rebound as well as it did and just curious if you could... I know you said it through the... obviously, through the credit bureaus. Can you give us any sense of what the big drivers are presumably one originations have been down and I guess risk management type applications have been increasing. So, just looking for little more color on the growth there.
Mark N. Greene - Chief Executive Officer
That's correct. This is fundamentally driven by volume at the bureaus and I have always described this business as a P time Q business, Price times Quantity. We saw good pick-up in Q, the volume of transactions coming from multiple partners during the last quarter.
Mark Bacurin - Robert W. Baird & Co., Inc.
And then do you have any sense of what the underlying demand coming to those bureaus? I mean, what drove that incremental activity?
Mark N. Greene - Chief Executive Officer
I think that among the factors as one you said it which is concerned about risky parts of the market there. You want to hear questions about sub-prime, etc. We do see our clients increasingly looking to FICO scores as a way of assessing risk in a number of market segments.
Mark Bacurin - Robert W. Baird & Co., Inc.
Great. And then been a lot of noise I guess in the press lately about this authorized user issue. Can you just comment on what actions you guys are taking at this point to make adjustments to the FICO score related to the authorized users and what the cost revenue implications of that maybe over next quarter or so?
Mark N. Greene - Chief Executive Officer
Second part of your question, we don't foresee any revenue implications to us. For those not familiar with the issue, FICO scores have long had a feature we sometimes referred to an incident [ph], the piggy backing feature whereby the intent of your inference would be their family members, current benefit by having their parents good credits score reflect favorably on the credit scores of children attending college for instance. That's favorable and intended use of the piggy backing feature has been compromised in a few cases. It's alleged by people in making unscrupulous use of the facility. And bowing to market pressure we have removed that capability from the FICO scores as of September. We recognized this will impose a hardship on many innocent parties but our issuers are demanding that we put this in place to avoid liability for misuse of credit ratings.
- To read the full transcript on Seeking Alpha, click here »







