Chordiant Software Establishes Core Leadership in Retail Banking
Leading Provider of Customer Experience (Cx) Solutions Now Serves Ten of Top Twenty Global Banks CUPERTINO, CA - May 22, 2006—Chordiant Software, Inc. (Nasdaq: CHRD), the leading provider of Customer Experience (Cx™) software and services, today announced its significant leadership position in the retail banking industry. As of this quarter, Chordiant now serves and supports 10 of the world's 20 largest publicly traded banking companies. Chordiant's financial services customer base now includes worldwide banking cornerstones HSBC Holdings, Royal Bank of Scotland, ABN Amro, Barclays Bank, Lloyd's TSB, Wachovia Corp, HBoS and BBVA/Banco Bilbao Vizcaya. Other financial customers include Deutsche Bank, Bank of Ireland, CIBC, PostBank, Banca Popolare di Novarra, SNS Bank, Banco Comercial Portuges, Halifax Bank of Scotland, BankWest, Ohio Savings Bank, UniCredito Italiano, CapitalOne, BBVN, Harris Direct, and Canadian Tire Financial Services. "An ongoing source of frustration for customers and bankers alike is the inability of customer contact personnel to interact with customers in a manner that demonstrates knowledge of the customer and their value to the institution. Customer interactions still fail to meet customer expectations - for speed, efficiency and quality of service," said Kathleen Khirallah, Research Director for TowerGroup. "Unfortunately, there is still tremendous room for improvement within the banking industry - and the mandate for improving service interactions is intensifying." Chordiant serves the retail banking sector by providing solutions that enhance the quality of every customer interaction while dramatically improving efficiency in banking channels. Chordiant's full suite of process automation and predictive analytics capabilities equips the teller, lender, marketing director and other customer-service professionals with the tools to handle transaction-based requests with effectiveness and care. Chordiant's momentum in the retail banking sector dovetails with its innovative focus on Customer Experience. The company has established a strategic vision focused on helping global enterprises dramatically enhance the quality of their consumer interactions. Chordiant is delivering on that vision with a portfolio of new products that help banks pull mid-office & back-office information forward to the front office, where they can support and add value to consumers in new and profound ways. "In this age of global finance, where people switch banks often and have many more service options both inside and outside the branch, banks are now working harder than ever to find ways to engage customers, promote loyalty and leverage technology to learn more about their consumers," said Steven R. Springsteel, president and CEO of Chordiant Software. "Using Chordiant's banking solutions, banks can connect with their customers in new and more meaningful ways. At both the channel and store we give banking service professionals the tools to know their customers better and handle transactions quickly and effectively. This ensures that the outcome of every interaction will serve the needs of both the customer and the banking enterprise." Recent Chordiant product announcements include a new Disputes & Chargebacks solution that eliminates many of the complexities of credit card disputes, allowing card issuers to significantly reduce operating costs through a "guided dispute process" that drives interactions and workforce optimization. The company is preparing to roll out additional new capabilities, including a fraud recovery application, which will help card issuers detect and manage fraud cases more strategically. Chordiant solutions handle a wide variety of transactional processes ranging from simple name changes to product originations, lending requests, credit approvals and ways to streamline and simplify the opening of bank accounts For more information access the Chordiant web site and read the whitepaper titled, "Financial Service Providers Deliver Outstanding Service with Chordiant Account Opening" available at http://www.chordiant.com/retailbanking/overview.html. About Chordiant Software, Inc.