PROVIDENT CENTRAL CREDIT UNION SELECTS SAGENT FOR BETTER CUSTOMER SERVICE Sagent Insight for Retail Banking gives large credit union immediate access to data for strategic decision-making, one-to-one marketing capability, improved member service, increased profitability MOUNTAIN VIEW, Calif.—April 30, 2001—Sagent (Nasdaq: SGNT), a leading provider of Business Intelligence solutions, today announced that Provident Central Credit Union, one of the largest credit unions in the country, has recently implemented Sagent Insight for Retail Banking in less than 90 days in order to complete the development of its new data warehouse. The rapid delivery of Sagent’s analytic application for credit unions and retail banks allows Provident to quickly and efficiently roll-out personalized service, provide product price breaks, customize offerings, and respond faster than ever to its growing membership nationwide. Using Sagent Insight for Retail Banking, Provident is now able to perform complex analytical problem solving by accessing and integrating data from various internal customer information sources and incorporating external demographic data. This bolsters the credit union’s strategic decision-making capabilities by being able to immediately form a complete view of its customer, as well as provide a complete financial view of its operations. Now having the ability to simultaneously retrieve comprehensive customer and financial information, Provident can conduct effective and cost-efficient one-to-one marketing campaigns to offer new and customized products, as well as grow primary financial institution acceptance from its members. By doing so, Provident will cut costs and increase profits. “The incorporation of Sagent’s integrated data warehouse platform technology, pre-built data models specifically for credit union business intelligence, and more than 150 reports, allowed Sagent to effectively and efficiently deliver a complete solution within 90 days,” said Helen Byrnes, executive vice president, Provident Central Credit Union. “A single platform that has data extraction capabilities with a user-friendly front-end solution for reporting and analyzing, and an inventory of proven analytics for credit unions, allowed us to go with one vendor that provides a complete solution for Provident’s business needs.” About Provident Central Credit Union Currently one of the top 50 largest credit unions in the country, Provident (www.providentcu.org) was established in 1950 to serve the California Teachers Association. Headquartered in the San Francisco Bay Area, Provident now serves more than 89,000 members from more than 1,600 employer groups, and maintains service centers throughout California and nationwide. Provident is committed to the safety of its members’ deposits. With more than $980 million in assets, Provident has earned a reputation for absolute safety and soundness. Additionally, it holds 12 percent of its assets in reserve, a figure greatly exceeding that of most banks. Plus, the National Credit Union Administration (NCUA) insures member savings to $100,000 per membership (with an additional $100,000 per IRA).About Sagent Sagent’s suite of Business Intelligence solutions enables companies to measurably impact their business by implementing highly successful customer relationship and financial management initiatives. Through Sagent’s powerful enabling technologies, organizations can easily and rapidly turn company data into relevant information that can be used for effective decision-making, analysis and reporting. Information can be extracted from multiple sources (internal and external), optimized for decision support and delivered in a customized format for Web-based or client applications. Even the most complex analytic application can be developed in weeks, not months. More than 1,500 companies have selected Sagent software to enhance customer retention, cross-sell/up-sell, improve customer service, increase efficiencies of marketing campaigns, streamline business operations, analyze financials, and reduce costs. Customers include AT &T, BP Amoco, Boeing Employees Credit Union, Bristol Meyers, British Telecom, California State Automobile Association, Citibank, GPU Energy, Hughes Aircraft Employees Federal Credit Union, Johnson & Johnson (UK), Kemper National Insurance, Safeway and Siemens. Sagent retains strategic partnerships such as Advent, Commerce One, Compaq, EDS, IBM, Microsoft, NEC and SAS. Sagent is headquartered in Mountain View, California and can be reached at www.sagent.com. Sagent is a registered trademark of Sagent Technology, Inc. All other trademarks are the property of their respective owners. Safe Harbor The foregoing paragraphs include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements involve risks and uncertainties. For such statements, each company claims the protection of the safe harbor for forward-looking statements under the Private Securities Litigation Reform Act of 1995. Factors that could cause actual results to differ from those contained in the forward-looking statements include, among others, the ability of the parties to attract and retain a broad range of purchasers, suppliers and trading partners, the parties’ ability to successfully deliver a joint solution to customers, the anticipation of the growth of certain market segments, the positioning of the parties’ products in those segments, the competitive environment in the software industry, dependence on other products, changes to operating systems and product strategy by vendors of operating systems, and the importance of new products. For a discussion of these and other risk factors that could affect the parties’ businesses, see “Risk Factors” in each party’s filings with the Securities and Exchange Commission, including its annual report on Form 10-K for the year ended December 31, 1999, and its quarterly report on Form 10-Q for the quarter ended September 30, 2000. |