Worldwide Customer Investment in Verint Witness Actionable Solutions' Workforce Optimization Software for Branch and Back-Office Operations Continues

Business Wire,  April 17, 2008  

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With a Focus on Enhancing Workforce Performance and the Customer Experience, Global Banking and Back-Office Departments are Deploying Impact 360 Workforce Optimization Solutions

MELVILLE, N.Y. -- Verint([R]) Systems Inc. today announced ongoing investment in its retail banking and back-office operations software solutions. Optimizing resources and performance in branch and back-office environments, Impact 360[R] for Retail Financial Services and Impact 360 for Back-Office Operations - offered by the Verint Witness Actionable Solutions[TM] business line - are currently used by eight out of the top 10 U.S. banks.

Customer organizations are finding that by leveraging Impact 360, they are able to help eliminate inefficiencies that can cost millions of dollars in the first year alone, while at the same time improving the customer experience. These same companies continue to extend their investment in Verint Witness Actionable Solutions' forecasting and scheduling software to now include workforce optimization (WFO) functions, such as quality management, eLearning and performance management.

The Impact 360 for Retail Financial Services and Impact 360 for Back-Office Operations solutions are well positioned to support these markets with their advanced WFO capabilities. In fact, 26 percent of Verint Witness Actionable Solutions' retail bank customers have reinvested in their branch workforce management solutions in 2007, and two U.S. top 20 banks recently joined the company's impressive list of Impact 360 for Retail Financial Services customers. The company also has seen continued interest in 2008 across banking/financial services and back-office operations in the cable/telecommunications, consumer services, healthcare, hospitality, outsourcing, retail, travel and utility vertical markets.

Industry Analysts Point to Key Drivers and the Impact of WFO Solutions

Operational efficiency appears as one of the top three drivers in 2008 in TowerGroup's recent research study entitled "2008 Top 10 Business Drivers, Strategic Responses, and IT Initiatives in Retail Banking." In the report, the research and advisory services firm highlights that "the imperative of operational efficiency is a constant business driver in banking that intensifies during periods of slow growth or earnings decline. Given the constrained profitability anticipated for many banks in 2008, manual processes will be examined and IT initiatives created to automate and/or outsource these processes. Although retail banks have already addressed many of the obvious inefficiencies in the front office, they will continue to look for opportunities to improve branches and call centers as well as their middle- and back-office functions."

With WFO solutions like Impact 360 from Verint Witness Actionable Solutions, banks and financial services firms can monitor performance quality and operational efficiencies throughout the enterprise by capturing, measuring and comparing real-time activity against scheduled activity, processes, and best practices. By effectively scheduling employees to meet customer demand and work volumes, banks can maximize employee utilization while improving the customer experience.

According to Saddletree Research, a communications industry research firm covering the contact center, CRM and emerging communications markets, "We project that workforce optimization revenues will come from the sale of workforce management and planning software but incremental sales of quality monitoring and performance management analytics will positively impact the market."

"Saddletree Research is still convinced that workforce optimization in the retail banking environment will prove to be one of the most exciting market developments of the decade for suppliers of contact center technology solutions like Verint Witness Actionable Solutions," adds Paul Stockford, chief analyst for Saddletree Research.

About Verint Witness Actionable Solutions

Verint([R]) Witness Actionable Solutions(TM) was formed as a result of the company's successful combination with workforce optimization provider, Witness Systems. Verint Witness Actionable Solutions enables organizations to capture and analyze customer/caller interactions, improve workforce performance and optimize service processes in contact center, branch and back-office operations. With the industry's broadest portfolio of innovative solutions for customer service analytics, workforce optimization, quality monitoring/full-time recording, workforce management, eLearning, performance management and customer surveys, Verint Witness Actionable Solutions helps companies uncover business trends, discover the root cause of employee and customer behavior, and power the right decisions to help ensure service excellence and achieve continuous performance improvement across every aspect of customer operations.

About Verint Systems Inc.

Verint Systems Inc. (VRNT.PK), headquartered in Melville, New York, is a leading provider of actionable intelligence solutions for an optimized enterprise and a safer world. Today, more than 10,000 organizations in over 150 countries rely on Verint solutions to perform more effectively, build competitive advantage and enhance the security of people, facilities and infrastructure. Visit us at our website www.verint.com.