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Verint Advances Leadership in Financial Services Sector with Breadth of Actionable Intelligence Solutions

July 15, 2013 No Comments

SOURCE: Verint

MELVILLE, N.Y., July 11, 2013 — Verint® Systems Inc. (NASDAQ: VRNT) announced that it is further expanding its customer footprint in the financial services sector as institutions around the world continue to deploy its Actionable Intelligence® solutions to improve enterprise performance and make the world a safer place. Verint brings a wealth of technology innovation and experience to the broad-reaching financial services industry through advanced security and enterprise intelligence technology, vertical-focused solutions and subject matter expertise. Today, some 90 percent of global Fortune 500 finance organizations count on Verint solutions to help drive their security, workforce optimization and customer experience initiatives.

More than ever, financial institutions face increasing security concerns, rapidly changing regulatory and financial compliance requirements, and a host of other new challenges. As a result, they are continuing to invest in solutions that enable the collection and analysis of Big Data to help enable more secure environments, mitigate risk, and meet the expectations and requirements of their customers.

In these environments, vast amounts of structured and unstructured information flows though organizations every day. Verint helps them 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—in order to make more informed and effective business decisions. From physical security protection—such as bank branches and ATMs—to trading rooms, contact center, back-office and customer experience operations, Verint solutions are helping enhance security, reduce risk, support compliance requirements and build customer loyalty.

Making Big Data Actionable in Customer Experience Operations

Today’s financial institutions are investing in customer-centric workforce optimization (WFO) solutions to enable more efficient operations, create more loyal customers and drive more profitable business outcomes. To do so, they count on Verint software to help their branch bank, back-office, and contact center and customer experience operations excel amid stringent regulations—particularly around maintaining the privacy of customer data—consolidation pressures and the need to maximize staffing resources.

Using Verint WFO technology designed specifically for banks and financial institutions—such as call recording, quality monitoring, voice of the customer analytics, workforce management, desktop and process analytics, performance management and eLearning—they are taking a more comprehensive approach to capturing, analyzing and acting on customer, business and market intelligence. In addition to gaining a complete view of customer interactions and experiences, these organizations are driving higher quality standards in their multichannel customer interactions, all the way through to their back-office supporting functions, such as loan and mortgage processing. They also are acquiring deeper insight into customers’ wants, needs and expectations, and benefitting from the ability to help ensure the right staff with the right skills are in the right place at the right time to address service requirements, cultivate sales opportunities and drive revenue.

Making Big Data Actionable in Security Operations

In security environments, financial institutions are challenged to keep pace with the increasing rate and sophistication of fraudulent activity ranging from identify theft, to public and private organizational losses, to other crimes. As a result, they are taking added measures to update and refresh their security processes and supporting technologies.

With IP video solutions designed specifically for banks and financial institutions, they are helping achieve their security operations objectives through the use of such Verint technology as high-performance network video solutions. By taking a more proactive approach, these organizations are advancing physical security, creating safer environments, reducing fraud, helping secure cash and other bank assets, decreasing liabilities and risk, enhancing search and investigative capabilities, delivering higher-caliber service, and helping comply with banking and other financial regulations.

Making Big Data Actionable in Financial Compliance Environments

Many financial organizations also are required to record and archive their voice interactions to help ensure compliance with requirements from local and international central banks, security commissions and government regulations. With nearly two decades of experience as a leading provider of compliance recording, Verint continues to deliver proven, reliable software for recording, indexing and retrieving voice communications across the enterprise, including trading floor, branch office and back-office operations environments.

Operating in traditional TDM and the latest generation IP telephony environments, these solutions are helping financial institutions around the world comply with regulations and uncover business trends by monitoring and analyzing cross-channel communications to mitigate risk, responding to compliance requirements—including the Payment Card Industry Data Security Standard—identifying potential regulatory issues, performing sales verification and improving operational performance.

“Organizations today require sophisticated, analytics-based solutions for distilling the most timely and relevant information from Big Data. The Actionable Intelligence that such solutions provide help equip them for better informed, more effective decision making,” explains Elan Moriah, president, Verint Enterprise Intelligence Solutions™ and Verint Video and Situation Intelligence Solutions™. “That’s why financial institutions continue to turn to Verint to help address some of their most challenging issues and obligations—such as safeguarding people, property and assets; mitigating liability and risk; complying with changing industry regulations and standards; and enhancing operational efficiency and effectiveness—all while building loyalty and profitability.”

About Verint Systems

Verint® (NASDAQ: VRNT) is a global leader in Actionable Intelligence® solutions. Its portfolio of Enterprise Intelligence Solutions™ and Security Intelligence Solutions™ helps 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. With Verint solutions and value-added services, organizations of all sizes can make more timely and effective decisions. Today, more than 10,000 organizations in over 150 countries, including over 80 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, 2013 and our Quarterly Report on Form 10-Q for the quarter ended April 30, 2013 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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