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Lloyds TSB Invests $24 Million in eCRM Infrastructure from Chordiant Software

Chordiant to Provide eCRM “Backbone” Across all Channels, Lloydstsb.com, Lloyds TSB Branches and Call Centers, WAP Phones and Digital TV Banking Services

CUPERTINO, Calif., August 16, 2000 - Chordiant Software, Inc. (Nasdaq: CHRD) today announced that Lloyds TSB Group is investing $24 million in its multi-channel electronic customer relationship management (eCRM) infrastructure technology. The deal is part of the bank’s eCommerce and CRM strategy and is Chordiant’s largest customer win to date.

Chordiant will become the strategic “eCRM infrastructure” used to unify and manage customer communications and business processes across all of the bank’s channels, including lloydstsb.com, WAP and digital TV banking services, and Lloyds TSB branches and call centers.

Lloyds TSB Group IT Director Igor Andronov said, “A large retail bank like ours has extreme requirements when it comes to CRM. We must streamline customer relations activity so that we deliver speedy, efficient and personalized service to our 16 million customers, via multiple channels and using a complex array of business processes. In addition to acting as the underlying eCRM infrastructure that will integrate all of our CRM activities, Chordiant provides a single solution to a variety of specific issues raised by individual business managers.”

“Using Chordiant as the overall eCRM infrastructure means that technical staff only have to learn one set of tools and applications, so new business initiatives, such as the addition of a new channel or the integration of a new call center to meet time-to-market and business objectives, are implemented rapidly,” he continued.

Chordiant was selected by Lloyds TSB and its strategic consultancy partner Andersen Consulting after an evaluation of leading eCRM software providers. When fully deployed, the Chordiant eCRM infrastructure will serve as the underlying integration framework enabling current and historical customer information to be shared between the bank’s branches, call centers and Internet, WAP and interactive TV banking services. This sharing of customer data will allow the bank to communicate with each of its 16 million customers in an informed and personalized manner, whether face to face, by letter, by phone or via e-mails to customers’ PCs, TVs or WAP (wireless application protocol) phones.

Chordiant CEO Sam Spadafora said, “As large retail financial organizations continue to expand into new digital channels, integrating customer relations activity across all customer access points will become a top priority. Chordiant has been designed specifically to enable this kind of integration in large business-to-consumer companies, and as a result we are now winning the confidence of important global customers like Lloyds TSB.”

Chordiant was selected primarily because of its flexibility. Its rules engine will reflect Lloyds TSB business processes, meaning that all automated customer communications will follow the same set of in-house rules and processes. In the event of a business process changing or a new one being added (for example a promotional offer), it can be modified easily or added in the Chordiant software. It also means that individual business divisions are able to use their own choice of front-end “point” CRM applications, with key customer data and processes coordinated by the Chordiant infrastructure.

The Chordiant implementation will play an important part in Lloyds TSB’s eCommerce strategy. Lloydstsb.com is already the fastest-growing Internet bank in the UK with over 500,000 customers. The bank plans to roll out its WAP and interactive TV banking services to customers by the end of the year.

Phase one of the Chordiant implementation is expected in the first quarter of 2001.

NB: A webcast of this announcement featuring Igor Andronov of Lloyds TSB and Sam Spadafora of Chordiant Software, will be viewable on www.chordiant.com from Thursday 17th August.

About Lloyds TSB Group

Lloyds TSB is one of the largest financial services groups in the UK, with 16 million customers and over 2,200 branches. It provides a comprehensive range of banking and financial services in the UK and overseas. Cheltenham & Gloucester and Scottish Widows are also part of the Lloyds TSB Group.

About Chordiant Software, Inc.

Chordiant delivers integrated, multi-channel eBusiness software, which enables consumer companies to implement best business practices over the Web, via email and mobile devices, through call centres, or in branches. It includes built-in support for voice, data and Internet integration, as well as a comprehensive workflow engine. Chordiant empowers high-value contacts designed to consistently retain customers, grow revenue and drive profits during every contact.

The Chordiant system has been selected by several of the world’s leading consumer companies, including Thomas Cook Global Services, Barclays Mercantile, Direct Line, General Motors, First USA Bank and Bank One International. Headquartered in Cupertino, California, Chordiant maintains regional offices in Chicago, Dallas, New York, London, Amsterdam and Munich. The company's Web site can be found at www.chordiant.com.

This press release includes forward-looking statements that are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those referred to in the forward-looking statements. Such factors include, but are not limited to, risks related to customer and market acceptance of our product, deployment delays or errors associated with these products, hardware platform incompatibilities, reliance on a limited number of customers for a majority of revenue, need to maintain and enhance certain business relationships with application integrators and other parties, ability to manage growth, activities by Chordiant Software, Inc. and others regarding protection of proprietary information, release of competitive products and other actions by competitors, and economic downturns in either domestic or international markets. These forward-looking statements are generally identified by words such as “expect,” “anticipate,” “intend,” “believe,” “hope,” “assume,” “estimate,” “plan,” and other similar words and expressions.

Chordiant and the Chordiant logo are registered trademarks of Chordiant Software, Inc. Chordiant, CCS-Customer Communications Solution, and One Click, One Call, One Customer are trademarks of Chordiant Software, Inc. All other trademarks and servicemarks mentioned are property of their respective holders. © 2000 Chordiant Software, Inc. All Rights Reserved.

Editorial Contact:
Jean Borgman
Marenghi & Associates
781-239-0057
jborgman@marenghi.com

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