CHORDIANT AND VERBIND SIGN JOINT MARKETING AGREEMENT Thursday 15 March 2001 PDF Print Agreement Provides for Co-marketing of Verbind's Behavioral Targeting System with Chordiant's Unified CRM Solution to Enhance Attrition Management Chordiant Software, Inc. (Nasdaq: CHRD), a provider of unified customer relationship management (CRM) solutions for companies with extreme customer demands, today announced an agreement with Verbind, Inc. to co-market LifeTime®, Verbind's real-time behavioural targeting system, along with Chordiant's Unified CRM Solution. Verbind's patented technology offers businesses the ability to quickly recognise customers at risk of defection on the basis of significant changes in their individual patterns of behaviour. Verbind's LifeTime product enables companies to examine customer behaviour as a sequence of events, which allows immediate detection of attrition risk along with dramatic improvement of cross- and up-sell success rates. "Our intention is to offer methods to better understand customer behaviour and ultimately deliver timely and relevant communication with all customers based on individual behaviour patterns," said Sam Spadafora, CEO for Chordiant Software. "By combining Verbind's attrition management solution with our unified CRM offering, customers will be able to create a more holistic view of their customers." For example, when a credit card company issues a card to a new customer with a low introductory interest rate, the intent is to keep that customer after the rate increases in six months. Before the six-month introductory period ends, the Verbind system will note any changes in the card user's behaviour such as fewer purchases and multiple balance checks - a sign of potential defection. By monitoring this behaviour, the credit card company could offer specific discounts on future purchases or a better interest rate to proactively retain the customer, and, in the future, formulate more effective marketing campaigns based on buying habits. The result is the credit card company retains the customer and gains insight to better serve consumers, and the cardholder has a credit card tailored to individual purchasing needs. The combined offering of Verbind's patented behavioural targeting system with Chordiant's Unified CRM Solution would allow marketing/managers a real-time, single view of the customer across the enterprise enabling the development of individually targeted marketing campaigns based on customer interaction and behaviors. The goal for Chordiant and Verbind is to provide to their joint customers the functionality to monitor behaviour-based data to identify at-risk customers, develop highly targeted outbound retention campaigns, and then interact with those customers in a consistent and personalised manner over any communications channel they choose. "Our partnership with Chordiant Software strongly reinforces our strategy of providing real-time behavioural targeting solutions that complement and greatly enrich a company's existing CRM investments," said Huib Geerlings, Founder and CTO of Verbind. "Today's announcement demonstrates a strong commitment by both companies to exploit the rapidly emerging generation of real-time, behaviour-based customer management technologies to provide customers with unprecedented levels of personalised service and support." About Verbind, Inc. Verbind (www.verbind.com) is the leading supplier of customer behavioural targeting solutions that drive personalised dialogues from a comprehensive, unified and actionable customer context. Verbind's real-time solutions synthesise offline and online customer interactions, monitor activity and non-activity, and trigger messages when they are most relevant. Not only are companies able to track when customer behavioural trends reveal business opportunities and threats, but they are also able to reach the right customer with the right message at the right time. Verbind is headquartered in Lexington, Massachusetts. About Chordiant Software, Inc. Chordiant (www.chordiant.com) delivers a unified CRM solution for companies with extreme customer demands. Chordiant's solution is designed to solve the needs of complex businesses serving millions of individual customers with the objectives of retaining, growing and building lifetime customer value. Whether communicating by email, Web, telephone, or wireless access, Chordiant Unified CRM Solution provides a real-time, single view of each customer and a consistent, personalised message for every interaction. It includes a comprehensive business process engine, which allows companies to implement best business practices across multiple touchpoints. Chordiant empowers high-value contacts designed to retain customers, grow revenue and drive profits during every contact. The Chordiant system has been selected by several of the world's leading consumer companies, including Barclays, BSkyB, Direct Line, First USA Bank, OnStar, Halifax Card Services, Lloyds TSB and MetLife. Headquartered in Cupertino, California, Chordiant maintains regional offices in Chicago, Dallas, New York, London, Amsterdam and Munich. Chordiant Software, Inc. announced on January 8, 2001 that it signed a definitive merger agreement to acquire PrimeResponse, Inc. (NASDAQ, EASDAQ: PRME), a leader in business-to-consumer relationship marketing. The combined company would be called Chordiant Software, Inc., and its common stock would trade on the NASDAQ National Market under the ticker symbol "CHRD". Completion of the transaction is subject to customary closing conditions, including approval by the respective stockholders of Chordiant and PrimeResponse and the receipt of regulatory approvals. Chordiant expects to complete the transaction in the second quarter of 2001. Safe Harbor This press 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. For this purpose, any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," "would," and similar expressions 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, risks detailed from time to time in the company's respective Securities and Exchange Commission reports, including Chordiant's Quarterly Report on Form 10-Q for the quarter ended December 31, 2000, and Chordiant's final prospectus for its initial public offering filed on February 15, 2000. Factors that could cause or contribute to such differences include, but are not limited to, risks related to customer and market acceptance of our products, deployment delays or errors associated with these products, hardware platform incompatibilities, reliance on a limited number of customers for a majority of revenue, need to maintain and enhance certain business relationships with application integrators and other parties, ability to manage growth, activities by Chordiant and others regarding protection of proprietary information, release of competitive products and other actions by competitors, and economic downturns in either domestic or international markets. This press release was distributed by ResponseSource Press Release Wire on behalf of Pleon in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.