Vancouver, BC, May 3, 2001
Pivotal and Datawest deliver a hosted demand chain solution to Valley First Credit Union
— Pivotal Corporation (Nasdaq NM: PVTL; TSE: PVT) and Datawest Solutions Inc. (TSE: DS) today announced that Valley First Credit Union, a leading credit union with assets of more than US $310 million (CND $485 million), has selected Pivotal and Datawest to deliver a hosted financial services solution to improve customer retention and increase revenue. The hosted Pivotal Finance Demand Chain Network solution suite merges customer relationship management (CRM) and eBusiness, providing Valley First Credit Union with a comprehensive, Web-based solution for demand chain management.
"Pivotal and Datawest are providing a compelling solution that will enable us to serve our members more quickly and effectively," said Harley Biddlecombe, president and CEO, Valley First Credit Union. "Through Datawest's outsourcing services, our credit union can leverage the Pivotal solution suite without the requirement to allocate additional resources to manage the solution internally. Using Pivotal's powerful industry solution for financial services, we can create a unified view of our members in real-time across multiple communication channels. This solution enables Valley First to design and personalize financial services that can then be accurately targeted to each of our member segments."
To improve member retention and increase revenue in the highly competitive financial services industry, Valley First selected Pivotal Finance Demand Chain Network solution suite, hosted and operated by Datawest, to more effectively deliver financial services and manage relationships with its members. The Pivotal-Datawest solution will provide Valley First with the tools to develop comprehensive member profiles that give critical insight into member needs and preferences as each individual moves through various life stages. Factors such as age, family situation, and financial outlook can be analyzed to identify likely candidates for specific financial services. Additional value can also be obtained by isolating gaps in the profiles to anticipate when a member requires particular services or to identify mortgages, loans, investments or insurance products held elsewhere. Using this information, Valley First will be able to identify and target key services to improve member relationships and enhance member value.
Based on the Pivotal-Datawest alliance announced November 30, 2000, Pivotal and Datawest are working together to provide financial services companies with a hosted solution for demand chain management. Under the terms of the agreement, Valley First has signed a five year agreement for Datawest to provide technology outsourcing services to operate, maintain and support the Pivotal solution suite.
According to Anthony R. Martin, Datawest president and COO, "Building on our long-term relationship as Valley First's banking system outsourcing partner, the Pivotal-Datawest solution will enable the credit union to focus specifically on their business processes and objectives. They can realize the full potential of their member relationships and increase market share by responding quickly to the needs of their members. Valley First Credit Union is an excellent example of a financial institution that is leveraging customer relationship management principles and technology to fundamentally alter the delivery of financial services to their members."
According to Peter Callaghan, senior vice president, industry solutions division, Pivotal, "Working together, Pivotal and Datawest are enabling Valley First Credit Union to quickly and cost-effectively consolidate large volumes of fragmented member information into a unified repository. The solution enables Valley First to offer superior service and precisely targeted financial products -- critical elements to compete effectively in the financial services industry."
Datawest Solutions Inc. designs, builds, integrates and operates leading online and Internet banking and ePayment outsourcing solutions for the financial services industry. Through its wholly owned subsidiary CUE Datawest Ltd., the company is the largest provider of online banking system outsourcing services to Canadian credit unions. In addition, Datawest delivers electronic funds transfer (EFT) switching services (ATM and POS), advanced telephone and Internet banking solutions, innovative technology for web-based electronic reporting, and customer relationship management (CRM) systems. 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.
This press release contains forward-looking statements that involve a number of known and unknown risks, uncertainties and other factors that may cause actual results of events to differ materially from those anticipated in our forward-looking statements such as the ability of Valley First Credit Union to improve customer retention, increase revenue, identify and target services for members, direct resources and financial services, and consolidate member information. Factors that could cause actual results to differ materially include a number of risks, uncertainties and other factors, such as the need to integrate and deploy a hosted financial services solution to meet our customer's requirements, the possibility of development or deployment difficulties or delays, the dependence on our customer's satisfaction with the Pivotal demand chain network solution and the hosting services of Datawest, its continued commitment to the deployment of the solution, the risks involved in developing software solutions and integrating them with third-party software and services, the possibility that competitors will introduce new and improved products and services and the need to compete successfully with existing and new products and services offered by competitors. Although we believe that the expectations reflected in our forward-looking statements are reasonable, individual results may vary, and 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.
Sheera Waisman, Datawest Solutions Inc.