SOURCE: Chordiant

November 15, 2006 09:00 ET

Chordiant Launches Unified Lending Solution for Wholesale Channel

Built on the Chordiant Cx Lending Platform, New Point-of-Sale Solution Enables Global Banks to Build More Profitable Relationships with Wholesale Originators

CUPERTINO, CA -- (MARKET WIRE) -- November 15, 2006 -- Chordiant Software, Inc. (NASDAQ: CHRD), the leading provider of Customer Experience (Cx™) software and services, today announced availability of the Chordiant Wholesale Lending Point-of-Sale (POS) solution. Built on the Chordiant Cx Lending Platform, this unified solution enables financial institutions to re-purpose consumer data obtained through the wholesale channel for campaigns offering different lending products throughout the customer lifecycle. For brokers, the Chordiant Wholesale Lending POS solution dramatically streamlines loan origination, giving them real-time visibility into back-end loan fulfillment processes, requirements, and current status.

As part of the Chordiant Cx Lending family, this solution brings proven front-office customer experience technology to the broker community, capabilities that banking institutions have been requesting for some time. The Cx Lending Platform provides a uniform, decisioning-based approach to enterprise-wide consumer loan origination and product recommendation, replacing the cumbersome channel and business line technology silos inevitably created by niche lending solutions. This unified approach enables financial institutions to initiate new lending products -- from auto loans to mortgages to credit cards -- within one unified environment. By sharing customer data across multiple product types, the Cx Lending Platform eliminates time-consuming, repeat data entry, and its intelligent questionnaire gathers only the data relevant to selected products. This streamlines and improves the origination experience for brokers and their customers.

Additional features of the new solution include quote generation, broker profile management and real-time qualification for customer options based on credit scores and other criteria. Financial institutions also benefit from broker fee and compensation management capabilities and a content management interface for branding and outbound channel communication. As the housing market continues to settle, the ability to partner more closely with wholesale brokers will become increasingly important, as this channel now accounts for greater than 40 percent of loan originations in the United States and the United Kingdom.

"With the housing market softening, it becomes even more critical for banks to leverage third-party channels to boost mortgage sales," said Craig Focardi, research area director at TowerGroup. "But many lenders lack the tools needed to effectively cultivate and manage broker relationships with loan marketing, pipeline management, lead management and other CRM capabilities that link to their processing systems. Tools such as these will help lenders source and convert more mortgage leads through the wholesale channel."

Built in close collaboration with leading global banking customers and drawing upon Chordiant's unparalleled experience in the financial services sector, the new broker solution is one of the first implementations using the recently announced Chordiant Mesh™. Using this open, collaborative development model, Chordiant works in tandem with customers and partners to customize and deploy the Wholesale Lending POS solution more efficiently than previously possible.

"The Chordiant Wholesale solution engages brokers as real partners in the loan origination experience, enabling banks to have more profitable relationships with their wholesale channel," said Frank Florence, chief marketing officer, Chordiant Software. "In addition, the solution provides the industry's only universal lending platform, which supports multiple kinds of consumer loans, from credit card, to auto, to home loans. With a single technology platform supporting all of these lines of business, banks are able to significantly improve service to customers while keeping costs down."

About Chordiant Software, Inc.

Chordiant helps leading global brands such as HSBC, 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 Wholesale Lending Point-of-Sale will be adopted by other 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
    Erica Burns
    PAN Communications
    (978) 474-1900
    Email Contact

    Chordiant Investor Relations Contact
    Steve Polcyn
    Senior Director of Investor Relations
    Chordiant Software, Inc.
    (408) 517-6282
    Email Contact