Leading Bank Awards Verint $11 Million Contract for AI-Powered Agent Copilot Bot

Rhea-AI Summary

Verint (VRNT) has secured an $11 million contract from a leading bank to implement its AI-powered Agent Copilot Bot across their contact center operations. The system will support 6,500 agents who handle approximately 400 million customer call minutes annually. Following a successful pilot program, the bank projects annual savings in the tens of millions of dollars. The AI bot operates in the background during calls, providing real-time assistance, coaching, and guidance to agents.

Positive

• $11 million new contract secured with major banking client
• Large-scale deployment covering 6,500 contact center agents
• Projected annual savings in tens of millions of dollars for the client
• Successful pilot program leading to full implementation

Negative

• None.

Insights

Financial Technology Analyst

This $11 million contract win represents a significant AI deployment in the banking sector, targeting contact center optimization. The scale of implementation - 6,500 agents handling approximately 400 million customer interaction minutes annually - demonstrates substantial operational scope. The pilot program's success, projecting annual savings in the "tens of millions," indicates strong ROI potential.

The deal highlights Verint's competitive position in the growing AI-powered customer service automation market. For a company with a $1.58 billion market cap, an $11 million single contract is material, representing potential recurring revenue. The real-time agent assistance capability addresses a critical need in financial services for improved efficiency while maintaining service quality.

MELVILLE, N.Y.--(BUSINESS WIRE)-- Verint^® (NASDAQ: VRNT), The CX Automation Company™, today announced that a leading bank awarded Verint an $11 million contract for its AI-powered Agent Copilot Bot to assist 6,500 agents in their contact center.*

The bank’s contact center agents speak with customers for approximately 400 million minutes each year. The Verint AI-powered bot is designed to listen to these calls in the background and provide agents with real-time assistance, including coaching and guidance.

The bank conducted a pilot before awarding the contract and, based on the pilot result, the estimated annual savings from deploying the AI-powered bot is in the tens of millions of dollars.

“Assisting agents in real time is one of the many ways that AI is reshaping contact center operations for the better,” says Verint’s Jaime Meritt, chief product officer. “Financial institutions are looking for ways to improve efficiency and experience for both agents as well as customers in tangible and meaningful ways. Verint is helping the world’s largest brands achieve stronger, faster AI business outcomes, now.”

Visit Verint Open Platform for more information.

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 deal closed in Q3/FY25.}

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/20241105841152/en/

Media Relations

Sue Huss

sue.huss@verint.com

Investor Relations

Matthew Frankel

matthew.frankel@verint.com

 

Source: Verint

FAQ

What is the value of Verint's (VRNT) recent contract with the leading bank?

Verint (VRNT) secured an $11 million contract with the leading bank for its AI-powered Agent Copilot Bot implementation.

How many agents will Verint's (VRNT) AI Copilot Bot support at the bank?

The AI-powered Agent Copilot Bot will support 6,500 contact center agents at the bank.

What are the projected annual savings for the bank using Verint's (VRNT) AI bot?

Based on the pilot results, the bank estimates annual savings in the tens of millions of dollars from deploying Verint's AI-powered bot.

How many customer call minutes does the bank handle annually that Verint (VRNT) will assist with?

The bank handles approximately 400 million customer call minutes annually that will be supported by Verint's AI-powered bot.