CUPERTINO, CA (ots)
- Partnership Enables New Teller Application
and Complete Retail Branch Banking Solution
Chordiant Software, Inc. (NASDAQ: CHRD) announced today that it
has entered into an agreement to deliver a branch banking teller
application with ISBAN, the technology company of Banesto and
Santander Bank group. The banking group is Spain's leading financial
institution and the second leading European banking group.
The agreement with the technology company ISBAN enables Chordiant
to expand its retail banking solutions to include Chordiant Teller,
providing a new consolidated, desktop application to meet the needs
of contemporary branch banking. The Chordiant Teller application will
complement the Chordiant multi-channel solution for leading retail
banking institutions. This new offering is important in positioning
Chordiant for the next growth opportunity in retail banking, where
branch infrastructure renewal and addressing the teller desktop are
critical to providing a complete branch marketing and servicing
"Our agreement provides the core teller banking components,
business processes, and system testing resources for the Chordiant
Teller application," said Don Morrison, President of Chordiant. "We
investigated a number of possible solutions culminating in this
announcement today. The level of complementary product and banking
expertise, along with the support of IBM's consulting and
implementation services, made this a compelling partnership
"This strategic relationship with Chordiant brings together
significant intellectual property and expertise in banking, an
aligned visionary strategy for retail banks and their branches, and
the strength of a common J2EE/XML platform," said Enrique Silva,
ISBAN CEO. "This agreement represents a long-term commitment to our
company vision of leveraging our technology investments through a
partnership with Chordiant to leading retail banks."
Chordiant Teller is a complete teller solution with over 100
operations and functions that include: branch administration, teller
administration, cash and non-cash transactions, cash draw management,
foreign exchange including EURO compliance, electronic journaling,
transaction management, settlement activity and support for teller
Chordiant adds value to the traditional teller desktop solution by
providing new and significant capabilities to enable the
multi-channel bank and to increase branch productivity and levels of
servicing. The Chordiant Teller desktop will provide a comprehensive
view of the customer relationship, customer case history including
all channels of interaction, relevant marketing offers as well as
full access to transactional servicing processes.
"Large financial institutions, adopting a multi-channel delivery,
enterprise architecture, will welcome this integrated J2EE branch
banking announcement from Chordiant," said Kevin Lloyd, Chief
Technology Officer, Barclays.
The Chordiant Teller application is deployed as an integrated
channel with Chordiant's Straight-Through Service Processing
solution, Chordiant's business process management system. It is
configured to run as a single J2EE system in a single application
server or configured across multiple application servers, delivering
a truly scalable and high performance multi-channel retail banking
solution. Chordiant Teller not only executes from an application
server, but also utilizes a single object model, a single set of
enterprise business services, as well as single case history and work
Chordiant Teller complements a number of existing offerings for
retail branch banking which include Chordiant Retail Channel,
Chordiant Marketing, and Chordiant Contact Center, in addition to
Chordiant Straight-Through Service Processing. These solutions offer
a complete retail bank solution running native on industry standard
IBM Websphere and BEA Weblogic J2EE platforms.
The benefits relative to competitive offerings are lower
operational costs, with the ability to centrally control the
management and operations of branch systems as part of the bank's
multi-channel network. A further significant benefit is the
adaptability and flexibility offered by these new services based
solutions, which can be quickly, easily and cost effectively modified
to support ongoing business change.
"This agreement between Chordiant and ISBAN is innovative and
timely," said Mark Greene, Ph.D., General Manager, IBM Global Banking
Industry. "The ability to offer and deploy new, complete and proven
WebSphere based multi-channel solutions of this pedigree is critical
in delivering on the vision of branch renewal and banking on demand."
For organizations that are transforming the traditional role of
the teller, Chordiant provides a customer centric approach to service
and transaction delivery in a solution that seamlessly enables a
single view of customer with value indicators, marketing offers,
selling processes, case management and work management. This delivers
the needed information required by branch platform and teller
representatives to service the customer's financial transaction
requirements within seconds, while increasing the value of the
customer interactions by providing value added service in a cost
"The kinds of solutions that Chordiant is providing to retail
banks are key to delivering on the promise of branch transformation.
The significance of the branch for customers has been well
documented, and as banks seek to become more customer centric,
integrating this important point of interaction with other delivery
channels becomes critical, as does the ongoing need to continue to
drive down associated operating costs," said Jerry Silva, Senior
Analyst with TowerGroup, the leading research and consulting firm
focused on the global financial services industry. "And the
development of a teller solution brings Chordiant to the forefront of
the branch renewal movement."
This solution complements Chordiant's existing retail bank and
branch platform capabilities being deployed by leading banks in North
America and Europe. Chordiant's banking customers include JP Morgan
Chase, USAA, CIBC, Barclays, Royal Bank of Scotland, LloydsTSB, Bank
of Ireland and Deutsche Bank.
About Chordiant Software, Inc.
Chordiant (NASDAQ: CHRD) solutions automate and manage operational
business processes for leading service-driven global organizations
with a focus on retail finance and telecommunications.
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; Chicago; Mahwah, N.J.; Manchester, N.H.; New York
City; London; Paris; Amsterdam; and Munich.
ISBAN is a leading software company based in Madrid, Spain
providing a broad range of solutions in the retail banking sector.
ISBAN is the technology company established by Banesto and Santander
banking group. Grupo Santander has assets of approximately $420
billion, is Spain's leading financial institution, the second in the
Euro Zone and has a shareholder value surpassed only by Citicorp,
HSBC and JP Morgan Chase. Spanish banking is most well-known for its
innovation and Grupo Santander is considered by many to be a leading
innovator in retail banking and has a history of growth through
acquisitions in Europe and Latin America.
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,
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 Annual Report on
Form 10-K 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
ots Original Text Service: Chordiant Software, Inc.
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