FICO Appoints EVP Nikhil Behl to Lead Software Business

Rhea-AI Summary

FICO has appointed Nikhil Behl as the new EVP for its software business, effective July 1. Behl will now oversee all technology and go-to-market functions. He has been with FICO since 2014, holding various leadership roles, including EVP and Chief Marketing Officer, and EVP for software sales and marketing. CEO Will Lansing praised Behl's decade-long contribution to the company, highlighting significant brand value and market growth. Behl brings experience from previous roles at HP and two e-commerce startups. This appointment aligns with FICO's vision to drive digital transformation through its FICO Platform.

Positive

• Nikhil Behl's appointment as EVP for the software business brings experienced leadership, potentially bolstering FICO's strategic goals.
• Behl's previous achievements at FICO include strengthening brand value and customer engagement, important for future growth.
• The FICO Platform is positioned to drive digital transformation and smarter business decisions, aligning with market needs.

Negative

• There may be concerns about continuity and potential leadership gaps as Behl transitions to his expanded role.

Behl leads all technology and go-to-market functions for the software business of analytics software leader

HIGHLIGHTS:

• Effective July 1, Nikhil Behl will lead all technology and go-to-market functions for FICO’s software business segment as EVP for software
• Behl previously served as FICO’s EVP and Chief Marketing Officer and, most recently, as its EVP for software sales and marketing

 

BOZEMAN, Mont.--(BUSINESS WIRE)-- Global analytics software leader FICO announced today the appointment of Nikhil Behl as executive vice president for software, effective today. This appointment expands his remit to now lead all technology and go-to-market functions for the software business. A veteran of the company since 2014, Behl previously held the roles of executive vice president and chief marketing officer and, most recently, executive vice president for sales & marketing for the software business segment.

Nikhil Behl is EVP for software at FICO (Photo: FICO)

“I’ve known and worked with Nikhil for many years, and during his 10 years at FICO we’ve experienced significant strengthening of our brand value, reputation with customers and regulators, strategic competitive positioning for FICO^® Scores and FICO^® Platform, and market-leading business growth,” said Will Lansing, FICO CEO. “He’s a remarkable executive with a proven track record of leading complex businesses through strategic planning, cross-functional alignment and world-class execution. I’m confident Nikhil will continue to successfully drive forward our software business and FICO Platform vision.”

Prior to FICO, Behl helped lead two start-ups in the ecommerce space: Supplizer, a cloud-based order management and supply chain management SAAS platform for retailers; and Zoostores.com, a retailer that offered over 2 million products in the home and fitness markets. Behl was COO of Mercantila and spent 12 years at Hewlett-Packard (HP), where he held executive-level positions including vice president of sales and operations for HPShopping.com. He currently serves on the advisory boards of a number of Silicon Valley start-ups.

“I’m incredibly proud of what we have accomplished at FICO over the last decade, delivering record results, building strong customer engagement and assembling a world-class team,” said Nikhil Behl. “I’ve truly enjoyed building a stellar marketing organization at FICO and I welcome this expanded role as we execute against our software vision and growth plans. With strong collaboration and execution, we are well-positioned to realize our tremendous growth potential.”

FICO^® Platform is a powerful and proven foundation that breaks down silos across an organization and empowers employees to achieve customer-focused digital transformation, while giving enterprises greater agility and collaboration. The next generation applied intelligence platform enables enterprises to use data, artificial intelligence/machine learning, and analytics to drive smarter business decisions, at scale, across a myriad of business use cases.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 200 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, insurance, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 4 billion payment cards from fraud, to improving financial inclusion, to increasing supply chain resiliency. The FICO® Score, used by 90% of top US lenders, is the standard measure of consumer credit risk in the US and has been made available in over 40 other countries, improving risk management, credit access and transparency. Learn more at www.fico.com.

For FICO news and media resources, visit www.fico.com/news.

FICO is a registered trademark of Fair Isaac Corporation in the United States and other countries.

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 impact of COVID-19 on macroeconomic conditions and the Company’s business, operations and personnel, the success of the Company’s Decision Management strategy and reengineering initiative, 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 protect such data, the failure to realize the anticipated benefits of any acquisitions, material adverse developments in global economic conditions or in the markets we serve, 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, 2023 and subsequent quarterly reports on Form 10-Q. 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240701869967/en/

Julie Huang

press@fico.com

FICO Investors/Analysts:

Dave Singleton

FICO

+1 800-213-5542

investor@fico.com

Source: FICO

FAQ

Who is the new EVP for FICO's software business?

Nikhil Behl has been appointed as the new EVP for FICO's software business, effective July 1.

What roles has Nikhil Behl previously held at FICO?

Nikhil Behl has previously served as EVP and Chief Marketing Officer, and EVP for software sales and marketing at FICO.

What experience does Nikhil Behl bring to his new role?

Nikhil Behl brings extensive experience from previous roles at HP and two e-commerce startups, alongside his decade-long tenure at FICO.

What are the new responsibilities of Nikhil Behl as EVP for FICO's software business?

Nikhil Behl will oversee all technology and go-to-market functions for FICO's software business.

How might Nikhil Behl's appointment impact FICO's business?

Nikhil Behl's appointment is expected to bolster FICO's strategic goals, enhancing brand value, customer engagement, and driving digital transformation through the FICO Platform.