Source: Carreker Corporation
Carreker Corporation (Nasdaq:CANI), a leading provider of technology and consulting solutions for financial institutions, announced today that Nedcor, South Africa's fourth largest banking group, has signed a multi-year license for Carreker's Customer Value Enhancement (CVE) solution.
Nedcor has assets of R327 billion (about $50 billion US) and a regional network that includes more than 500 retail bank branches.
CVE helps financial institutions increase the value of their customers by deploying technology, methodology, knowledge transfer, best practices, and strategic execution throughout the client's executive, regional, branch, and front-line areas.
In 2004, Nedcor licensed and installed CVE (previously called EnAct) in its Personal Banking Division, focusing on the bank's Upper Mass Market Customers. The bank's reported success of that installation includes a seven-fold lift in average sales per banker and a productivity increase of 166% over seven months.
Clive van Horen, managing director of Nedbank Retail Services Division, said, "CVE helped us realize gains that are phenomenal for the South African market, occurring at a time of heightened competition from skilled external competitors. Having validated the promise of CVE in our Personal Banking Division, we are committed to making it possible for the rest of our organization to realize comparable improvements. In doing so, we are confident we can improve the value we bring our clients, our shareholders, and our employees."
Keith Von Seggern, managing principal of CVE for Carreker Corporation, said, "We look forward to spreading across the Nedcor enterprise the four-part benefits CVE has brought to Personal Banking: the capability for executive management to understand the customer base, for employee resources to be aligned with the best opportunities, for customer information to be captured and utilized across the organization, and for the right customers to be targeted appropriately. Many organizations talk about realizing these accomplishments, but few can integrate the strategy with the technology and support it with methodology and best practices. Nedcor has proven the case."
Denny Carreker, chairman and CEO of Carreker Corporation, said, "We are pleased to have another major bank, spurred by successful use of CVE in one unit to expand its use across the enterprise. As large banks around the world struggle to overcome silos and execute enterprise strategies, few providers can claim enterprise capabilities. We are pleased to be able to do so again with CVE."