Commonwealth Bank of Australia Receives Celent Model Bank Award
Organization's "Right People, Right Place, Right Time" Initiative Cited for Excellence and Impact in Financial Technology
Bank Recognized for Implementation and Business Results from Verint Workforce Optimization Software
MELVILLE, N.Y. & SYDNEY--(BUSINESS WIRE)-- Verint® Systems Inc. (NAS: VRNT) today announced that customer Commonwealth Bank of Australia has been honored as a 2013 Celent Model Bank. Financial services research and consulting firm Celent recognized the results of the organization's "Right People, Right Place, Right Time" internal initiative and associated business value derived through its use of Verint's Impact 360® Workforce Management™ and Impact 360 Desktop and Process Analytics™ solutions for retail financial services. The award winners were announced at Celent's 2013 Innovation & Insight Day that took place on February 27 in Boston, Mass.
The Celent Model Bank Awards program is designed to recognize banks that are making effective use of technology and provide inspiration to those seeking to improve their own business process and technology strategies. Recipients are not only highlighted for driving initiatives that have had a clear and sustainable impact on business, but also for their innovation in improving sales/service results, reducing risks/costs, driving business process improvement, and maintaining technology and integration excellence.
"The Celent Model Bank Awards program highlights the best practices of what a 'model bank' should implement—from both an initiative and technology standpoint," says Bob Meara, senior analyst, banking, Celent. "We congratulate Commonwealth Bank of Australia and Verint on achieving this level of real-world impact and distinction. It is evident that the bank's use of Verint's Impact 360 software is a unique differentiator in terms of driving resource efficiency and the ability to perform deep analysis of retail branch operations. This puts it at the forefront of innovation and thinking. Many organizations can learn from what Commonwealth Bank of Australia has achieved."
Commonwealth Bank of Australia, Australia's largest bank, selected Verint's software to support its Right People, Right Place, Right Time initiative and its focus on world-class customer service. Right People, Right Place, Right Time is designed to help optimize its retail channel workforce and heighten customer service. To realize these goals, the organization put Verint's workforce management and desktop and process analytics software to work.
Using the Verint Impact 360 solutions, Commonwealth Bank of Australia gained new levels of visibility into the customer experience across its branches, including the ability to measure critical branch activities, improve the efficiency and effectiveness of staff, and enhance service delivery. With Impact 360, Commonwealth Bank of Australia has benefitted from the ability to more accurately model existing branch operations and potential change scenarios. Its line management is able to better align their staff to customer demand, manage the performance of their teams, and gain visibility into the impact operational changes have had on new and improved customer service and sales practices. Another benefit came through its ability to identify and respond to variations between branches.
Additionally, through its use of the Verint software, the bank has been able to better understand its resource planning needs and measure productivity across the branch network, realizing a productivity lift of 4.5 percent, and significantly increased customer satisfaction rates. The three-year return on investment target for the project was achieved within the first year, and the program even won the Commonwealth Bank of Australia's internal CEO award for productivity improvement.
About Verint Enterprise Intelligence Solutions
Verint® Enterprise Intelligence Solutions™ help organizations of all sizes capture and analyze customer interactions, sentiments and trends across multiple channels, improve performance and optimize the customer experience. The solution portfolio includes the Impact 360® Workforce Optimization™ suite and Voice of the Customer software, which serve as strategic enterprise assets for increasing customer satisfaction and loyalty, enhancing products and services, reducing operating costs and driving revenue.
About Verint Systems
Verint® (NAS: VRNT) is the global leader in Actionable Intelligence® solutions and value-added services. Its extensive portfolio of Enterprise Intelligence Solutions™ and Security Intelligence Solutions™ helps worldwide organizations Make Big Data Actionable™ through the ability to capture, analyze and act on large volumes of rich, complex and often underused information sources—such as voice, video and unstructured text. Today, more than 10,000 organizations in 150 countries, including over 85 percent of the Fortune 100, count on Verint solutions to improve enterprise performance and make the world a safer place. Headquartered in NY, Verint has offices worldwide and an extensive global partner network. Learn more at www.verint.com.
This press release contains forward-looking statements, including statements regarding expectations, predictions, views, opportunities, plans, strategies, beliefs, and statements of similar effect relating to Verint Systems Inc. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve a number of risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. For a detailed discussion of these risk factors, see our Annual Report on Form 10-K for the fiscal year ended January 31, 2012 and our Quarterly Report on Form 10-Q for the quarter ended October 31, 2012 and other filings we make with the SEC. The forward-looking statements contained in this press release are made as of the date of this press release and, except as required by law, the Company assumes no obligation to update or revise them or to provide reasons why actual results may differ.
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