SOURCE: Chordiant Software, Inc.

October 31, 2006 09:00 ET

Chordiant Launches Platform for Lending Growth

New Chordiant Cx Lending Platform Gives Top Global Banks Multi-Channel, Multi-Product Lending Capabilities, Drives New Levels of Customer Experience

CUPERTINO, CA -- (MARKET WIRE) -- October 31, 2006 -- Chordiant Software, Inc. (NASDAQ: CHRD), the leading provider of Customer Experience (Cx™) software and services, today announced availability of the Chordiant Cx Lending Platform. The new Chordiant Cx Lending Platform enables financial institutions to now initiate lending products -- from auto loans to mortgages to credit cards -- within one unified environment. The solution delivers a uniform decisioning-based approach to consumer origination and product recommendation, replacing the dated silo approach commonly found in niche solutions.

The Chordiant Cx Lending Platform was developed based on the company's proven success in the financial services sector, drawing from years of high value, transformational enterprise customer engagements worldwide. With Chordiant, financial institutions are now able to align all aspects of the lending customer lifecycle, including customer and broker marketing campaigns and acquisition, across multiple lines of business, lending product originations, and customer servicing -- all in a unified solution. The platform also supports Chordiant's additional capabilities in dispute and fraud case management and collections of delinquent accounts.

"In order to stay competitive in the lending industry, we constantly require technology that enables us to scale as our business grows and adapts to changes in customer behavior and market conditions," said Greg Schroeder, Executive Vice President, Director of Marketing & E-commerce for New Century Mortgage Corporation. "Like many industry leaders, New Century is working to unify common business processes and data models in order to execute campaigns and originations across products and multiple lines of business. As a Chordiant customer, we are delighted to see the progress they have made in solving this major business obstacle for the lending industry."

By delivering a consistent approach to account opening, the Chordiant Cx Lending Platform facilitates product bundling and cross-selling consumer offers, such as a second mortgage or an auto loan, in addition to a primary mortgage. As a result, lending institutions are able to increase responsiveness and enhance customer satisfaction, while maximizing revenue. The platform also allows for real-time intelligent product recommendations so that each retail agent and loan broker can offer the best product for the customer requirement, which is executed in an auditable and repeatable manner. In addition, Chordiant brings proven success connecting its leading SOA-based platform to credit scoring, pricing, underwriting, and risk management systems, automating Basel II compliance.

"At TowerGroup we consistently see multiple-product originations, cross-selling and a unified customer experience as top lending goals for leading global banks," said Bobbie Britting, Senior Analyst - Consumer Lending at TowerGroup. "Technology and process enhancements that help break down the lending silos still dominant in the marketplace today can support these financial services institution goals."

The Chordiant Cx Lending Platform is designed to operate across sales channels and product lines, including consumer-unsecured and broker-wholesale segments. The technology integrates easily with existing systems throughout financial institutions to maximize re-use of trusted applications and data. In addition, the platform exploits Chordiant's mature, proven SOA foundation and rich Web-based AJAX desktop to ensure adherence to market leading standards. By deploying the Chordiant Cx Lending Platform, financial institutions are able to benefit from an open architecture that offers foundational functionality for: enterprise case management; desktop decision management; complex and time sensitive workflow management; multi-channel support for agents, self-service, brokers, point-of-sale management; and more.

"Finally, top global banks can break their lending information silos and implement effective customer experience solutions," said Frank Florence, Chief Marketing Officer, Chordiant Software. "Providing this major new lending platform means Chordiant can enable financial institutions to mobilize around the customer, achieve business process and data leverage across product lines, increase capture rates, gain a higher return on their IT investment, and reduce competitive time to market."

About Chordiant Software, Inc.

Chordiant helps leading global brands such as HSBC, MetLife, Barclay's, CIBC and Capital One deliver the best possible customer experience. Unlike traditional business applications, Chordiant Customer Experience (Cx) solutions blend insight with predictive desktop decisioning to uniquely understand the customer's behavior. This deeper understanding cultivates a lasting, one-to-one relationship that aligns the most appropriate value proposition to each consumer. With Chordiant Cx solutions, customer loyalty, operational productivity and profitability reach new levels of return. For more information, visit Chordiant at www.chordiant.com.

Safe Harbor Statement

This news release includes "forward-looking statements" that are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. Forward-looking statements in this release are generally identified by words, such as "believes," "anticipates," "plans," "expects," "will," "would," "guidance," "projects" and similar expressions which are intended to identify forward-looking statements. There can be no assurance that the Chordiant Cx Lending Platform will be adopted by Chordiant's customers. There are a number of important factors that could cause the results of Chordiant to differ materially from those indicated by these forward-looking statements. Other risks relating to Chordiant's products are detailed under "Risk Factors" in Chordiant's Annual Report on Form 10-K for the fiscal year ended September 30, 2005, and Chordiant's Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2006, each as filed with the Securities and Exchange Commission. These filings are available on a Web site maintained by the Securities and Exchange Commission at http://www.sec.gov. Chordiant does not undertake an obligation to update forward-looking or other statements in this release.

Chordiant and the Chordiant logo are registered trademarks of Chordiant Software, Inc. The Customer Experience Company and Cx are trademarks of Chordiant Software, Inc. All other trademarks and registered trademarks are the properties of their respective owners.

Contact Information

  • Chordiant Media Relations Contact:
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