Vancouver, BC, November 30, 2000
Joint solution to integrate Internet Commerce, eSelling and CRM capabilities for financial services companies
— Pivotal Corporation (Nasdaq NM: PVTL; TSE: PVT) and Datawest Solutions Inc. (TSE: DS) today announced demand chain network solutions specifically designed for financial services companies that accelerates the ability to engage in Internet commerce, eSelling and customer relationship management (CRM).
Working together, Pivotal and Datawest are empowering financial services companies to interact with customers with speed, efficiency and intelligence across all traditional and Internet communication channels. Pivotal's demand chain network solutions enable financial services companies to unify Internet commerce, eSelling and CRM. Pivotal's solutions hosted and operated by Datawest allow financial services companies to quickly and cost-effectively consolidate massive volumes of fragmented customer information into a unified repository and create enterprise-wide intelligence for personalized marketing, sales, support and service. The hosted solutions enable financial services companies to increase customer satisfaction, customer loyalty and ultimately increase revenue.
"The Internet is fundamentally transforming the delivery of financial services and places extensive demands on financial companies to understand, anticipate and respond quickly to the needs of their customers," said Norm Francis, president and CEO, Pivotal. "The scalability of the Microsoft platform combined with the Pivotal-Datawest solution, specifically designed for financial services, enables credit unions and other financial services companies to increase assets while strengthening customer loyalty. Credit unions in particular, have a long history of one-to-one relationships. The Pivotal-Datawest solution will take these relationships to the next level."
Building on 20 years' experience, Datawest currently provides outsourced technology solutions to more than 100 Canadian financial institutions. As an application services provider, Datawest delivers critical online banking and electronic funds transfer (EFT) switching services 24 hours a day, seven days a week, meeting the stringent performance standards for reliability, availability and security that the financial services community demands. With the economies of scale made possible by delivering technology solutions through a shared multi-institution environment, financial services organizations gain cost-effective access to Datawest-hosted applications, as well as comprehensive operational, technical, support and professional services.
According to Darryl J. Yea, chairman and CEO, Datawest Solutions, "Financial services companies are facing immense pressures to consolidate fragmented information to provide personalized products and services to their customers. Datawest and Pivotal are meeting this demand by delivering scalable and flexible solutions that evolve as business needs dictate. Financial companies leveraging the joint solutions maximize customer loyalty and increase revenue-generating opportunities by creating personalized interactions across all distribution channels, including the Internet, ATMs and call centers. Datawest has developed an industry-standard interface to allow companies to integrate Pivotal solutions with Datawest's online banking system in real time and with additional back-end legacy banking systems if required."
Pivotal's momentum in the financial industry builds on a history of success with customers including Yorkton Securities, North Shore Credit Union, RBC Dain Rauscher Wessels, Heller Financial, ING Barings LLC, The Principal Financial Group, National Bank, Savills Private Finance, 1st Global Inc., Goldman Sachs and Allied Capital Corporation.
According to Chris Catliff, president and CEO, North Shore Credit Union, "Financial services companies are faced with an expanding selection of financial products and services, as well as increasingly sophisticated customer needs. As a result, these companies are struggling to provide timely advice, recommendations and information that are tailored to each customer's unique requirements. Pivotal and Datawest have drawn upon both their industry and technology expertise to provide financial services companies with hosted solutions that meet the increasingly unique demands of each of their customers."
The Pivotal-Datawest solution offers industry-leading scalability and reliability by leveraging the Microsoft .NET platform. "Pivotal and Datawest are a compelling combination for credit unions and other financial services companies that need to rapidly transform their business models to focus on building customer loyalty," said Frank Clegg, president, Microsoft Canada Co. "These solutions have been specifically designed for financial services and are optimized for the Microsoft .NET platform. Companies selecting the Pivotal-Datawest solution will achieve the agility they require to be at the forefront of the financial services industry."
Datawest Solutions Inc. designs, builds, integrates and operates leading online and Internet banking and ePayment solutions as an application services provider to the financial services industry. Through its wholly owned subsidiary CUE Datawest Ltd., the company is the largest supplier of outsourced online banking system services to Canadian credit unions. In addition, Datawest delivers electronic funds transfer (EFT) switching services (ATM and point-of-sale), advanced telephone and Internet banking solutions, and innovative technology for web-based electronic reporting. Drawing on its operational and applications expertise, Datawest also provides professional services for implementation of online banking systems and ePayment systems in major financial institutions and other financial services organizations worldwide.
Datawest is a public company traded on the Toronto Stock Exchange under the symbol "DS." More information can be found on the corporate Web site at www.datawestsolutions.com.
Pivotal Corporation enables large and medium-sized businesses worldwide to make, serve, and manage customers with superior speed and efficiency by providing XML-based demand chain networks that deliver personalized customer experiences across every touch point in real-time. These networks unify Internet commerce, CRM, eSelling, and wireless technologies to manage collaborative relationships between customers, business partners, and employees; guide intelligent commerce transactions across multiple channels; seamlessly integrate the demand chain with the supply chain; and fully exploit Microsoft platform standards.
Pivotal solutions are sold in 35 countries and are available in English, French, German, Spanish, Portuguese, Swedish, Japanese and Chinese. Pivotal's worldwide customer base includes more than 1,000 organizations in traditional, commercial and public market sectors and the new digital economy, including KPMG, Intrawest Corporation, Emerson Electric, US Filter, Ericsson, Nissan Motor Corp., HarperCollins Publishers, Qiagen Inc., Deutsche Bank, Trader.com, Southern Company, Lucent Technologies, Inc., NEC, Deloitte & Touche, Principal Financial Group and Red Cross Australia.
Pivotal is a public company traded on the NASDAQ under the symbol “PVTL” and the Toronto Stock Exchange under the symbol “PVT.” More information can be found on the corporate Web site at http://www.pivotal.com.
Statements made in this press release about the ability of Pivotal's solutions and Datawest to provide financial services companies the ability to interact with their customers, consolidate customer information, unify their Internet commerce, successfully restructure their business models and to be successful in their industry, and about the success of Pivotal's solutions with financial services companies generally, constitute forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in our forward looking statements. Factors that could cause actual results to differ materially include the need to develop, integrate and deploy applications to meet the financial service industry's requirements, possibility of development of deployment difficulties or delays by Datawest of Pivotal's solutions, the dependence on the financial services industry's satisfaction with Pivotal's solutions and the continued commitment to Pivotal's solutions by Datawest and the financial services industry. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements or other future events. Moreover, neither we nor anyone else assumes responsibility for the accuracy or completeness of forward-looking statements.