MINNEAPOLIS—April 2, 2012—FICO (NYSE:FICO), the leading provider of analytics and decision management technology, announced today the appointment of James M. Wehmann as executive vice-president responsible for the Scores business unit, effective April 1, 2012. Mr. Wehmann brings to the position an extensive body of experience as an accomplished senior executive in financial services, retail and technology businesses.
Most recently, Mr. Wehmann was senior vice president, global marketing at Digital River, a leading provider of cloud commerce solutions. During nearly nine years with the company, he was responsible for developing, marketing, selling and executing the company’s marketing services offerings. Prior to joining Digital River in 2003, Mr. Wehmann served as vice president of marketing at Brylane, Inc., where he was responsible for all aspects of marketing strategy and brand management for the company’s largest division. Before that Mr. Wehmann was responsible for new customer acquisitions as senior vice president of marketing for one of the country’s largest credit card issuers, Bank One. He also spent nearly eight years at Fingerhut Companies, Inc., where, as senior vice president, marketing, he developed and implemented segmented credit marketing strategies.
Mr. Wehmann is a graduate with distinction of the Kellogg School of Management, where he earned a Master of Business Administration. He earned his Bachelor of Science from the Carlson School of Management at the University of Minnesota.
“Besides being our family jewels, FICO scores are the jewels in the crowns of our customers’ decision- and risk-management systems,” said Will Lansing, CEO, FICO. “Jim is an exceptionally skilled business executive who can be counted on to honor our customers’ trust in FICO, while leading our Scores division to new levels of growth and success.”
“The value of analytics-based products and services is increasingly apparent as businesses struggle to grow profitably amid intense regulatory and competitive pressures,” commented Mr. Wehmann. “In many ways, FICO scores were the prototypical analytics products, and they remain vital to the success of our customers’ businesses and to the functioning of the consumer economy. I foresee tremendous opportunity for FICO, and am eager to get started.”
About the FICO® Score
With over 10 billion FICO® Scores used worldwide to empower lenders to make credit decisions, the FICO® Score has become the standard measure of credit risk worldwide. FICO® Scores are used today in more than 20 countries on five continents, as well as by all of the top 50 U.S. financial institutions and the 25 largest U.S. credit card issuers and auto lenders. The latest FICO® Score version, the FICO® 8 Score, has been adopted by more than 7,500 lenders.
FICO (NYSE:FICO) delivers superior predictive analytics that drive smarter decisions. The company’s groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO’s innovative solutions include the FICO® Score — the standard measure of consumer credit risk in the United States — along with the industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world’s top banks, as well as leading insurers, retailers, pharma businesses and government agencies rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through www.myFICO.com.
FICO: Make every decision count™.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company’s Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO’s SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2011 and its last quarterly report on Form 10-Q for the period ended December 31, 2011. If any of these risks or uncertainties materializes, FICO’s results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO and “Make every decision count” are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.
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