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Verint TimeFlex Bot Wins a $4 Million Contract From a Leading Australian Bank

Business Wire
·3-min read
Verint TimeFlex Bot Wins a $4 Million Contract From a Leading Australian Bank (Photo: Business Wire)
Verint TimeFlex Bot Wins a $4 Million Contract From a Leading Australian Bank (Photo: Business Wire)

  • Bank to Deploy Verint Workforce Management and Verint TimeFlex Bot Across 5,000 Employees

  • Deal Follows a Large Multinational Insurance Company Reporting Strong AI Business Outcomes with Verint TimeFlex, Lowering Employee Attrition by 30 Percent

MELVILLE, N.Y., May 15, 2024--(BUSINESS WIRE)--Verint® (NASDAQ: VRNT), The CX Automation Company™, continues to see contract wins and groundbreaking customer results for the new Verint TimeFlex Bot.

Verint recently received a $4 million contract with a leading bank in Australia to deploy the Verint Open Platform’s workforce management (WFM) and bot capabilities. The bank has been a long-time Verint customer and is now expanding with Verint to replace a WFM solution from another vendor and introduce the artificial intelligence (AI) powered Verint TimeFlex Bot for its 4,500 agents. Verint TimeFlex Bot will provide the bank’s contact center agents with the flexibility to make unlimited schedule changes to reduce attrition and absenteeism while improving agent work/life balance.

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"This contract is testament to our open platform’s unique ability to quickly deliver tangible AI business outcomes," says Verint’s Jasen Williams, global vice president, corporate marketing. "The bot fits seamlessly into the customer’s existing ecosystem and agents learn how to use the bot within minutes. The result is faster AI business outcomes including improved employee experiences and lower labor costs."

Customer Achieves Significant ROI with Verint TimeFlex Bot

The new contract win with the Australian bank follows another Verint customer, a leading multinational insurance company, reporting strong AI business outcomes from the TimeFlex Bot. The insurance company was able to save $2,000 per agent per year on average resulting from Verint’s TimeFlex Bot, including:

  • 30% reduction in agent attrition

  • 23% reduction in agent absenteeism

  • 32-point increase in employee Net Promoter Score

The $4 million contract with the Australian bank was in Verint’s second quarter and includes Bundled SaaS deployment of the Verint Open Platform over 39 months.

Visit Verint Open Platform to learn more.

About Verint

Verint® (NASDAQ: VRNT) is a leader in customer experience (CX) automation. The world’s most iconic brands - including more than 80 of the Fortune 100 companies - use the Verint Open Platform and our team of AI-powered bots to deliver tangible AI business outcomes across the enterprise.

Verint, The CX Automation Company™, is proud to be Certified™ by Great Place To Work®. Learn more at 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, uncertainties and assumptions, 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, 2024, 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, Verint assumes no obligation to update or revise them or to provide reasons why actual results may differ.

VERINT, VERINT DA VINCI, VERINT OPEN CCAAS, THE CX AUTOMATION COMPANY, THE CUSTOMER ENGAGEMENT COMPANY, AND THE ENGAGEMENT CAPACITY GAP are trademarks of Verint Systems Inc. or its subsidiaries. Verint and other parties may also have trademark rights in other terms used herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240515926061/en/

Contacts

Media Relations
Sue Huss
sue.huss@verint.com

Investor Relations
Matthew Frankel
matthew.frankel@verint.com