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Adobe and Satyam introduce financial e-statements software

16 November 2005  |  1170 views  |  0 Source: Adobe Systems

Adobe Systems Incorporated (Nasdaq:ADBE) and Satyam Computer Services Ltd. (NYSE:SAY) today announced the Intelligent Statements solution for financial services organizations.

Now, banks and other financial institutions can use intelligent bank and credit card e-statements for more secure and cost-effective delivery of highly targeted, personalized and compelling communications that help increase customer satisfaction and loyalty.

Based on Adobe LiveCycle software and developed and distributed by Satyam, the Intelligent Statements solution enables banks and other financial institutions to add transaction-level intelligence to electronic statements, which are batch-processed and delivered to customers in Adobe PDF. Using the free Adobe Reader software, customers can view and interact with these statements for transactions such as updating personal information, disputing an erroneous transaction, or taking advantage of a special offer. Once the customer clicks the submit button, the data is protected and automatically sent back to the institution's core systems for processing. Additionally, the statement can be saved to a local hard drive for completion or submission at a later time.

"Statements are the most common form of communication between financial institutions and their customers. While many organizations have developed e-statement capabilities with the intention of reducing the costs of printing and mailing paper documents, they haven't seen the returns on their investment that they had hoped for," said G.B. Prabhat, director, Consulting and Enterprise Solutions, Satyam Computer Services Ltd. "With the new Intelligent Statements solution from Adobe and Satyam, e-statements can be used in an entirely new way for offering a host of value added features that can increase customer satisfaction and profitability, and drive new business growth," added Raj Asava, senior vice president, Satyam Banking Group.

"Banks worldwide must create strategies that will enable them to personalize and manage the complete customer experience, while also providing flexible platforms for unified and coordinated channel product delivery and back-office integration," said Stessa Cohen, research director for analyst firm Gartner Inc. "These strategies will provide the technology framework a bank will use to create new products and services, gain new customers, and ultimately increase its profits and shareholder value."

"The combination of Satyam's consulting expertise and Adobe's powerful software for automating document processes can enable financial institutions to transform the way they communicate and interact with customers," said Eugene Lee, vice president of product marketing at Adobe. "Not only will customers benefit from a higher level of personalized service, but organizations can reduce costs associated with paper-based processes while tapping into additional revenue potential through highly targeted cross-sell and upsell opportunities."

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