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Commonwealth Bank of Australia Receives Celent Model Bank Award



  Commonwealth Bank of Australia Receives Celent Model Bank Award

Organization’s “Right People, Right Place, Right Time” Initiative Cited for
Excellence and Impact in Financial Technology

Bank Recognized for Implementation and Business Results from Verint Workforce
Optimization Software

Business Wire

MELVILLE, N.Y. & SYDNEY -- February 28, 2013

Verint^® Systems Inc. (NASDAQ: VRNT) today announced that customer
Commonwealth Bank of Australia has been honored as a 2013 Celent Model Bank.
Financial services research and consulting firm Celent recognized the results
of the organization’s “Right People, Right Place, Right Time” internal
initiative and associated business value derived through its use of Verint’s
Impact 360^® Workforce Management^™ and Impact 360 Desktop and Process
Analytics™ solutions for retail financial services. The award winners were
announced at Celent’s 2013 Innovation & Insight Day that took place on
February 27 in Boston, Mass.

The Celent Model Bank Awards program is designed to recognize banks that are
making effective use of technology and provide inspiration to those seeking to
improve their own business process and technology strategies. Recipients are
not only highlighted for driving initiatives that have had a clear and
sustainable impact on business, but also for their innovation in improving
sales/service results, reducing risks/costs, driving business process
improvement, and maintaining technology and integration excellence.

“The Celent Model Bank Awards program highlights the best practices of what a
‘model bank’ should implement—from both an initiative and technology
standpoint,” says Bob Meara, senior analyst, banking, Celent. “We congratulate
Commonwealth Bank of Australia and Verint on achieving this level of
real-world impact and distinction. It is evident that the bank’s use of
Verint’s Impact 360 software is a unique differentiator in terms of driving
resource efficiency and the ability to perform deep analysis of retail branch
operations. This puts it at the forefront of innovation and thinking. Many
organizations can learn from what Commonwealth Bank of Australia has
achieved.”

Commonwealth Bank of Australia, Australia’s largest bank, selected Verint’s
software to support its Right People, Right Place, Right Time initiative and
its focus on world-class customer service. Right People, Right Place, Right
Time is designed to help optimize its retail channel workforce and heighten
customer service. To realize these goals, the organization put Verint’s
workforce management and desktop and process analytics software to work.

Using the Verint Impact 360 solutions, Commonwealth Bank of Australia gained
new levels of visibility into the customer experience across its branches,
including the ability to measure critical branch activities, improve the
efficiency and effectiveness of staff, and enhance service delivery. With
Impact 360, Commonwealth Bank of Australia has benefitted from the ability to
more accurately model existing branch operations and potential change
scenarios. Its line management is able to better align their staff to customer
demand, manage the performance of their teams, and gain visibility into the
impact operational changes have had on new and improved customer service and
sales practices. Another benefit came through its ability to identify and
respond to variations between branches.

Additionally, through its use of the Verint software, the bank has been able
to better understand its resource planning needs and measure productivity
across the branch network, realizing a productivity lift of 4.5 percent, and
significantly increased customer satisfaction rates. The three-year return on
investment target for the project was achieved within the first year, and the
program even won the Commonwealth Bank of Australia’s internal CEO award for
productivity improvement.

About Verint Enterprise Intelligence Solutions

Verint^® Enterprise Intelligence Solutions^™ help organizations of all sizes
capture and analyze customer interactions, sentiments and trends across
multiple channels, improve performance and optimize the customer experience.
The solution portfolio includes the Impact 360^® Workforce Optimization^™
suite and Voice of the Customer software, which serve as strategic enterprise
assets for increasing customer satisfaction and loyalty, enhancing products
and services, reducing operating costs and driving revenue.

About Verint Systems

Verint^® (NASDAQ: VRNT) is the global leader in Actionable Intelligence^®
solutions and value-added services. Its extensive portfolio of Enterprise
Intelligence Solutions^™ and Security Intelligence Solutions^™ helps worldwide
organizations Make Big Data Actionable^™ through the ability to capture,
analyze and act on large volumes of rich, complex and often underused
information sources—such as voice, video and unstructured text. Today, more
than 10,000 organizations in 150 countries, including over 85 percent of the
Fortune 100, count on Verint solutions to improve enterprise performance and
make the world a safer place. Headquartered in NY, Verint has offices
worldwide and an extensive global partner network. Learn more 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 and
uncertainties, 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, 2012 and our Quarterly Report on Form
10-Q for the quarter ended October 31, 2012 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, the
Company assumes no obligation to update or revise them or to provide reasons
why actual results may differ.

VERINT, ACTIONABLE INTELLIGENCE, INTELLIGENCE IN ACTION, IMPACT 360, WITNESS,
VERINT VERIFIED, VOVICI, GMT, AUDIOLOG, ENTERPRISE INTELLIGENCE SOLUTIONS,
SECURITY INTELLIGENCE SOLUTIONS, VOICE OF THE CUSTOMER ANALYTICS, NEXTIVA,
EDGEVR, RELIANT, VANTAGE, STAR-GATE, ENGAGE, CYBERVISION, FOCALINFO, SUNTECH,
and VIGIA are trademarks or registered trademarks of Verint Systems Inc. or
its subsidiaries. Other trademarks mentioned are the property of their
respective owners.

Contact:

Industry Information
Verint Systems
Candace Flynn, 303-254-7152
candace.flynn@verint.com
or
Investor Relations
Verint Systems
Alan Roden, 631-962-9304
alan.roden@verint.com
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