SOURCE: Chordiant Software, Inc.

August 03, 2005 16:15 ET

Wachovia Selects Chordiant Software for Enterprise Case and Work Management

CUPERTINO, CA -- (MARKET WIRE) -- August 3, 2005 -- Chordiant Software, Inc. (NASDAQ: CHRD) today announced that Wachovia Corporation (NYSE: WB), has chosen the Chordiant Enterprise Platform, Component-Based Multi-Channel Business Services and Advisor Application Suite as the foundation of its enterprise case management system.

Wachovia will initially implement Chordiant Enterprise Platform for Enterprise Case Management across Wachovia's various lines of business to achieve improved customer service and obtain business process efficiencies through both direct customer contact and web-based applications. Financial details of the transaction were not released.

"Chordiant delivers a comprehensive solution that will allow us to manage the complexities and scale of our of technology infrastructure and provide the tools to develop extensive business processes spanning the organizations within the company," said Nancy Church, CIO, Shared Services, Wachovia Corporation.

"Selection on an enterprise level by Wachovia demonstrates Chordiant's dedication to working with world-class financial services organizations to enable their key strategic initiatives," said Rob Mullen, President World Wide Field Operations, Chordiant Software, Inc. "We continue to attract large enterprise customers who require flexible, multi-channel solutions with proven scalability."

Enterprise case and work management allows large organizations to more effectively and efficiently manage the end-to-end processes that not only cross multiple channels of communications, but also multiple lines of business. This type of business agility enables more responsive service to customer requests whether they are interacting over the phone, web or in the branch.

"As an industry leader in customer satisfaction and loyalty, we are always looking for ways to improve the experience our customers have at Wachovia," said Gwynne Whitley, head of Corporate Customer Service Excellence. "With the help of Chordiant and our new Enterprise Case Management system, our front-line employees in all businesses will have the ability to more quickly address, resolve and track service requests from customers. And this, we believe, should result in even greater employee engagement and customer satisfaction."

About Chordiant Software, Inc.:

Chordiant (NASDAQ: CHRD) solutions automate and manage operational business processes for leading service-driven global organizations in retail finance, telecommunications and consumer direct industries. Chordiant orchestrates the unique processes of an organization from the point of customer interaction, through the front and back offices to multiple transactional systems, corporate applications and data stores. Our solutions integrate existing infrastructure to orchestrate the assembly, enhancement and delivery of optimal role-based business processes to the appropriate channels. Business value is realized through improved employee productivity, savings in operational costs, and increased business adaptability. Headquartered in Cupertino, California, Chordiant maintains offices in Boston, MA; Mahwah, NJ; Manchester, NH; New York City; London; Paris; Amsterdam; and Munich.

About Wachovia Corporation.:

Wachovia Corporation (NYSE: WB) is the fourth largest bank holding company in the United States with a market capitalization of over $80 billion, 96,000 employees, and serves 13 million household and business relationships through 3,277 financial centers in 15 states. Wachovia also provides full-service retail brokerage with offices in 49 states through Wachovia Securities LLC. Global services are provided through 33 international offices.

Safe Harbor

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, including statements relating to the implementation of the Chordiant Enterprise Platform across Wachovia's various lines of business, 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, including, among others, potential difficulties in the assimilation of operations, strategies, technologies, personnel and products of acquired companies and technologies, the impact of perceived or actual weakening of economic conditions on customers' and prospective customers' spending on Chordiant software and services; quarterly fluctuations in Chordiant's revenues or other operating results; failure by Chordiant to meet financial expectations of analysts and investors, including failure resulting from significant reductions in demand from earlier anticipated levels; risks related to market acceptance of Chordiant's products; customization and deployment delays or errors associated with Chordiant products; impact of long sales and implementation cycles for certain Chordiant products; reliance by Chordiant on a limited number of customers for a majority of its revenues; Chordiant's need to retain and enhance business relationships with systems integrators and other parties; Chordiant's use in its products of third-party software; activities by Chordiant and others regarding protection of intellectual property; and competitors' release of competitive products and other actions. Further information on potential factors that could affect the financial results of Chordiant are included in risks detailed from time to time in Chordiant's Securities and Exchange Commission filings, including without limitation Chordiant's Transition Report on Form 10-K/T and Quarterly Reports filed on Form 10-Q. 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. All other trademarks and registered trademarks are the properties of their respective owners.

Contact Information

  • Chordiant Contact:
    Steve Polcyn
    Chordiant Software, Inc.
    +1 (408) 517-6282
    Email Contact