Vancouver, BC, January 17, 2005
North Shore Credit Union First to Implement Anti-Fraud Photo ID Program
— Pivotal Corporation, a CDC Software company, and North Shore Credit Union today announced that North Shore Credit Union has become the first financial institution in Canada to successfully implement a photo identification anti-fraud program in its branches. North Shore Credit Union implemented the program to protect its members against the increasing threat of identity fraud as well to combat increasing costs associated with this crime.
Headquartered in North Vancouver, British Columbia, North Shore Credit Union (NSCU) is a vibrant, innovative financial institution that ranks among the fastest-growing credit unions in Canada. NSCU is committed to building relationships with its 40,000 members by responding to members’ financial needs with competitive, high-quality products and services needed to achieve true financial wellness. In 1999, NSCU deployed Pivotal as its customer relationship management platform giving employees tools and information to more effectively provide responsive and customized solutions for each member.
“Identity fraud has not only become an expensive problem for us, but for our members it is devastating on many fronts,” says North Shore Credit Union president and CEO Chris Catliff. “Our photo ID program has received an overwhelmingly positive response from our members, who are grateful that we are taking the necessary steps to protect them and ourselves from this crime.”
Many of North Shore Credit Union’s members have voluntarily allowed their photograph to be taken and accessed by NSCU frontline staff at the time of a transaction. This process eliminates the need for members to show photo identification (such as a driver’s license) at any of the credit union’s 11 branches. During the six-week pilot phase of the program, 760 members were photographed, with fewer than 20 opting out, representing a 97.4 percent response rate.
North Shore Credit Union’s member photo ID program has been made possible through technology developed by Pivotal Corporation. NSCU adapted and customized the Pivotal CRM system to allow members’ photos to be displayed on the credit union’s CRM system. North Shore Credit Union’s member photo ID program is on track to be operational in all 11 branches by the beginning of February.
According to Phonebusters (Canadian anti-fraud call centre), British Columbians recorded the second-highest number of identity theft complaints in Canada in 2003. That same year, the crime cost British Columbians more than $1.8 million, an increase of approximately $600,000 over 2002.
According to Divesh Sisodraker, president and CEO of Pivotal, “North Shore Credit Union is a trend-setter and technology innovator in the Canadian banking market and is continuously finding ways to enhance and further relationships with its members through innovating and extending their Pivotal CRM. It is clear that with more than 97 percent of the participants in the pilot phase choosing to have their photograph taken and accessed by NSCU frontline staff, there is overwhelming demand for this type of program. We congratulate NSCU on the launch of its anti-fraud initiative.”
About North Shore Credit Union
One of the fastest-growing credit unions in Canada, North Shore Credit Union is a full-service financial institution offering expert advice and service to 40,000 members. With its head office in North Vancouver, North Shore Credit Union has 11 branches in communities from Burnaby and downtown Vancouver to Whistler and Pemberton.
Pivotal Corporation, a software unit of chinadotcom corporation (NASDAQ: CHINA), is a leading CRM company that is 100 percent purpose-built to serve the demanding requirements of mid-sized enterprises – a powerful, highly flexible application platform, a complete set of CRM applications, and low-cost, results-producing implementation services. Pivotal delivers software and services that are designed to produce meaningful increases in revenues, margins and customer loyalty for companies and business units in the revenue range of $100 million to $3 billion. More than 1,700 companies around the world have licensed Pivotal including: Centex Homes, Farm Credit Services of America, Premera Blue Cross, Qiagen, Sharp Electronics Corporation, and WellCare Health Plans.
Pivotal's complete CRM software suite includes a powerful application platform and additional capabilities in contact centers, partner management and interactive selling. For more information, visit www.pivotal.com.
This press release includes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, including statements relating to the ability of the photo identification program using Pivotal CRM to prevent identity fraud and the ability of Pivotal CRM to produce meaningful increases in revenues, margins and customer loyalty. These statements are based on management's current expectations and are subject to risks and uncertainties and changes in circumstances. Factors that could cause actual results to differ materially from those anticipated in the forward looking statements include, the possibility of development or deployment difficulties or delays, the dependence on customer satisfaction with Pivotal’s CRM software, continued commitment to the deployment of the solution, the willingness of members to participate in the program and the ability of frontline staff to implement the program. Further information on risks or other factors is detailed in filings or submissions with the United States Securities and Exchange Commission made by our parent, chinadotcom corporation, including its Annual Report for the year ended December 31, 2003 on Form 20-F/A filed on July 8, 2004. All forward-looking statements included in this press release are based upon information available to management as of the date of the press release, and you are cautioned not to place undue reliance on any forward looking statements which speak only as of the date of this press release. The company assumes no obligation to update or alter the forward looking statements whether as a result of new information, future events or otherwise.
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North Shore Credit Union