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TMCNet:  Verint Expands Leadership with New Customers Adopting Advanced Fraud and Security Technologies

[September 10, 2019]

Verint Expands Leadership with New Customers Adopting Advanced Fraud and Security Technologies

Verint® Systems Inc. (Nasdaq: VRNT), The Customer Engagement Company™, today announced innovative ways financial services organizations are expanding the adoption of advanced fraud reduction, video and analytics platforms. The company saw increased opportunities in the first half of the year from enterprises turning to its intelligent solutions to support fraud reduction and security operations.

As the financial industry evolves, the value of technology has expanded and become more impactful, with banks and credit unions leveraging the latest innovative tools to enhance operations. At the same time, the threats facing financial organizations have also continued to change. Banks and credit unions turn to Verint (News - Alert) to identify the best ways to strengthen risk management across domains with technology that simplifies, automates, and modernizes their fraud and safety programs.

"With Verint, we are well-positioned to identify fraudulent activity and enhance safety," said Randy Bullock, assistant vice president of security, Origin Bank. "Verint understands the challenges we face daily and works to deliver solutions that allow us to reach our goals," he said. "We look forward to continuing to work with Verint as we envision the next evolution of our business and our security program."

With more than 2,300 banking customers across the Americas, Verint's suite of advanced technology solutions is proven to meet growing customer requirements for actionable intelligence, fraud detection and compliance.

"Verint is known for providing quality solutions and services to the banking segment, and its proven expertise in this market stood out when we were evaluating vendors," said Amie Reilly, the security/BSA compliance officer, Visions Federal Credit Union. "We researched a wide variety of vendors during our evaluation process, and we knew we were getting a higher quality from Verint."

A Focus on Cyber Protection

Verint is also leveraging key relationships to provide the highest level of cybersecurity. The company is collaborating with Seagate (News - Alert) to enhance customer privacy and secure critical data from potential IT threats. The addition of Seagate's self-encrypting drives (SEDs) creates a secure infrastructurethat maximizes the safety of video and security intelligence by encrypting the video data at rest. Integrated encryption hardware helps ensure that there is no performance impact on the system.

"The adoption of intelligent security and fraud detection systems substantially improves the customer experience as well as decreases crime and fraud reduction efforts for banks," said Valorie Windsor, director of alliances, Seagate. "As video becomes more valuable, the amount of time video needs to be stored increases dramatically. To accommodate this shift in data aggregation, banks must deploy robust storage devices at every level of the data workflow. When powered by Seagate SEDs, these video solutions also ensure that the data providing key insights is securely stored."

Technology Advancements

Verint continues to further its commitment in the banking market with the addition of Verint Video Investigator™, a robust software platform that augments the ability to identify security threats in near real-time, helping security personnel mitigate risk, ensure operational compliance, and improve fraud investigations.

"Providing a rich suite of open, scalable solutions enables banks to capture the insights needed to realize stronger fraud reduction and higher levels of safety," says Verint's Matt Tengwall, vice president and general manager, fraud and security solutions. "Verint is committed to providing technology and services to enable banks and credit unions to modernize their security and fraud programs and stay one step ahead of emerging risks."

To learn more about Verint's robust portfolio of solutions and services for the financial services sector, visit the company at booth #1803 at the Global Security Exchange (GSX) Conference and Expo by ASIS International in Chicago, Sept. 10-12. Click here to schedule a meeting.

About Verint Systems Inc.

Verint® (Nasdaq: VRNT) is a global leader in Actionable Intelligence® solutions with a focus on customer engagement optimization and cyber security. Today, more than 10,000 organizations in approximately 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, 2019, our Quarterly Report on Form 10-Q for the quarter ended July 31, 2019, and other filings we make with the SEC (News - Alert). 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.

VERINT, ACTIONABLE INTELLIGENCE, THE CUSTOMER ENGAGEMENT COMPANY, NEXT IT, FORESEE, OPINIONLAB, KIRAN ANALYTICS, TERROGENCE, SENSECY, CUSTOMER ENGAGEMENT SOLUTIONS, CYBER INTELLIGENCE SOLUTIONS, EDGEVR, RELIANT, VANTAGE, STAR (News - Alert)-GATE, 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.


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