Press release

Navy Federal Credit Union, U-Haul and Vera Bradley Named 2020 Verint Award Winners

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Verint® Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company, today announced the winners of its 2020 Verint Awards recognizing individuals and organizations that have deployed Verint solutions to meet key milestones, demonstrate innovation and achieve customer engagement excellence especially in the current working environment. The winners were named today in a featured video during the Verint Virtual Customer Engagement Conference.

“We are inspired by this group of customer award winners,” says Verint’s Ryan Hollenbeck, senior vice president of global marketing and customer experience program executive sponsor. “They have achieved impressive results through innovation with Verint solutions and have demonstrated their commitment to improving operational efficiency and delivering superior customer experiences and doing so even during the most challenging of circumstances.”

Verint customers were recognized for their efforts detailed below:

Enterprise Adoption

Jeff Bretana Navy Federal Credit Union

Navy Federal has been using Verint’s Workforce Engagement solutions for the past seven years and recently expanded further into to the Collections team in 2019. Since then, automation alone saved this team more than five thousand work hours. It optimized nearly one thousand agent shifts and breaks. This helped to reduce the abandon rate from 3.3% to 2.4%, a most critical metric as inbound calls nearly always result in a member making a payment or establishing a payment plan. The Collections WFM team also began to leverage Verint Speech Analytics and, overall, Navy Federal expects the use of Verint technology to expand across the organization in the coming months and years.

Operational Efficiency

Joel White, U-Haul International

U-Haul uses Verint’s Workforce Management solution to scale its customer service operations in a cost-effective manner, while enabling the company to become the “employer of choice” via work schedules that offer the flexibility to work from zero to 40 hours a week, whether in the office or at home. Verint solutions have improved productivity for U-Haul managers and agents by simplifying, modernizing and automating their operations—providing automatic approvals for 16,500 requests for time off and 36,000 shift swaps in the last year alone. These are processes that would have required 30 to 40 Full Time Employee managers to handle manually.

Customer Engagement

Susan Campbell and Paige Reed, Vera Bradley

Vera Bradley has implemented an extensive Voice of the Customer program that aggregates cross-channel customer feedback and analytics to understand if customer journeys are meeting the mark as well as surfacing areas for improvement. This effort has resulted in greater customer-centricity, breaking down silos and fueling cross-company collaboration. It has also ensured accountability and focus to meet the overarching goal of continuous improvement in customer satisfaction. As a result of these improvements using Verint Experience Management solutions, Vera Bradley’s organizational NPS improved two points and CSAT scores improved by one point this year, both on the high-end in comparison to industry benchmarks. This is attributed to newfound agility in converting insights to action to quickly resolve issues.

About Verint Systems Inc.

Verint® (Nasdaq: VRNT) is a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization and cyber intelligence. Today, over 10,000 organizations in more than 180 countries—including over 85 percent of the Fortune 100—count on intelligence from Verint solutions to make more informed, effective and timely decisions. Learn more about how we’re creating A Smarter World with Actionable Intelligence® at www.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, 2020, 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.

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