Leading Financial Services Company to Deploy Multiple Verint AI-powered Bots

Rhea-AI Summary

Verint (NASDAQ: VRNT), a CX automation company, has been selected by a leading financial services firm to deploy its Open Platform in their 1,800-agent contact center. The firm's choice was influenced by Verint's open approach and ability to deliver measurable AI business outcomes. Verint's platform will unify previously siloed behavioral data. Additionally, multiple AI-powered bots, including the PII Redaction Bot, Exact Transcription Bot, and Data Insights Bot, will be implemented to enhance data accuracy and security. Chief Revenue Officer Steve Seger emphasized Verint's compatibility with the firm’s existing ecosystem, promising rapid innovation and transformation into tangible AI business outcomes.

Positive

• A leading financial services firm chose Verint for its open approach and tangible AI outcomes.
• Verint's platform will unify previously siloed data, enhancing efficiency.
• Deployment of multiple AI-powered bots, including PII Redaction Bot, Exact Transcription Bot, and Data Insights Bot, enhances data security and accuracy.
• Verint's solutions promise rapid adoption and transformation into tangible AI business outcomes.

Negative

• None.

Tech Expert

The deployment of Verint's Open Platform and AI-powered bots in a major financial services company's contact center is a significant technological advancement. The use of AI for PII redaction, exact transcription and data insights transforms how customer interactions are handled and analyzed, leading to more efficient operations and enhanced data protection. Integrating these technologies can reduce manual labor, potentially decrease costs and improve accuracy in customer service records.

The PII Redaction Bot ensures compliance with data protection regulations by automatically removing sensitive information from customer interactions. The Exact Transcription Bot improves the quality of call transcriptions, which is critical for training, legal compliance and customer satisfaction monitoring. Finally, the Data Insights Bot can transform raw interaction data into actionable insights, enabling better decision-making and strategic planning.

While these technologies offer promising efficiency and compliance improvements, investors should consider the potential integration challenges and the initial costs involved in deploying such advanced systems. The long-term benefits, however, could outweigh these drawbacks if the implementation is successful.

Financial Analyst

From a financial perspective, the selection of Verint's Open Platform by a leading financial services company is a strong endorsement of Verint's capabilities. The contract can lead to increased revenue streams for Verint, enhancing its financial stability and growth prospects. This strategic win might also boost investor confidence, potentially positively impacting Verint's stock price.

The deployment of AI-powered bots can lead to cost savings for the financial services company by automating tasks that would otherwise require significant human resources. This can improve profit margins and operational efficiency. Furthermore, the ability to derive insights from unified contact center data can lead to better customer service, potentially increasing customer retention and satisfaction, which are critical in the highly competitive financial services sector.

However, investors should be cautious about the initial implementation costs and the time required to integrate these systems fully. There is also the risk that the anticipated benefits might take longer to materialize than expected, which could impact short-term financial performance.

Verint Open Platform Selected to Unify Contact Center Data and Drive AI Business Outcomes

MELVILLE, N.Y.--(BUSINESS WIRE)-- Verint^® (NASDAQ: VRNT), The CX Automation Company™, today announced that a leading financial services brand selected the Verint Open Platform to support its contact center made up of 1,800 agents. The brand evaluated multiple vendors and awarded Verint the contract based on its open approach and ability to deliver tangible AI business outcomes.

The Verint Open Platform will consolidate siloed behavioral data into a unified hub within the platform’s core. In addition, the brand will deploy multiple AI-powered bots trained on behavioral data, including the Verint Personally Identifiable Information (PII) Redaction Bot to protect sensitive personal information, the Exact Transcription Bot to accurately transcribe customer calls and the Data Insights Bot to transform the contact center into a data-driven operation.

“Verint was chosen for our ability to easily integrate with the brand’s existing and evolving ecosystem. Our differentiated open approach accelerates time to value for our customers as they benefit from the rapid innovation and quickly transform AI technology into tangible AI business outcomes now,” says Verint’s Steve Seger, chief revenue officer.

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/20240619236273/en/

Media Relations

Sue Huss

sue.huss@verint.com



Investor Relations

Matthew Frankel

matthew.frankel@verint.com

Source: Verint

FAQ

What financial services company selected Verint's Open Platform?

A leading financial services company chose Verint's Open Platform to support its 1,800-agent contact center.

Why did the financial services firm select the Verint Open Platform?

The firm selected Verint for its open approach and ability to deliver tangible AI business outcomes.

What specific AI-powered bots will the financial services firm deploy?

The firm will deploy the PII Redaction Bot, Exact Transcription Bot, and Data Insights Bot.

How will Verint's Open Platform benefit the financial services firm?

Verint's Open Platform will unify siloed data and enhance data accuracy and security in the firm's contact center.

What is Verint's stock symbol?

Verint's stock symbol is VRNT.