SOURCE: Chordiant

May 22, 2006 10:18 ET

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 and HOLLYWOOD, FL -- (MARKET WIRE) -- May 22, 2006 -- Card Forum & Expo -- 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.

Chordiant solutions and services help major enterprises around the world deliver the best possible customer experience. Unlike traditional business applications, Chordiant Customer Experience (Cx) solutions blend insight with agile business strategies and decisions to uniquely understand the customer's behavior. This deeper understanding develops 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 unprecedented 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 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 Investor Relations Contact
    Steve Polcyn
    Chordiant Software, Inc.
    (408) 517-6282
    Email Contact

    Chordiant Media Relations Contact
    Chris Hall
    Chordiant Software, Inc.
    (603) 621-4397
    Email Contact