PALO ALTO, CA -- (Marketwired) -- 01/31/14 -- TIBCO Software Inc. (NASDAQ: TIBX) is pleased to congratulate Banco Citibank S.A., commonly referred to as Citibank Brazil, on winning the 2013 Global Award for Excellence in BPM and Workflow. These prestigious awards, now in their 20th year, are presented by cosponsors Workforce Management Coalition (WfMC) and BPM.com.
"The BPM awards program is designed to elicit the best examples of the use of BPM technology in the industry," said Keith Swenson, chairman of the WfMC. "Citibank Brazil's project demonstrates the kind of excellence that others in the marketplace can learn from and should emulate."
This year's winners were selected for their outstanding BPM implementation, innovation, and impact. Citibank Brazil transformed its commercial lending relationship opening process, reducing its cycle time by more than 70 percent and improving both employee efficiency and customer satisfaction.
"This award reinforces our commitment to maximize value to our customers through business process reengineering and technology innovation," said Roberto Mercadante, senior vice president and business process improvement managing director of Citibank, in accepting the award.
The results were achieved using business process improvement (BPI) methodology combined with the implementation of TIBCO ActiveMatrix® BPM and TIBCO Spotfire® to provide intelligent work and resource management, process automation, process simulation, and end-to-end process analytics dashboards for real-time actionable insights and continuous improvement.
"We even got a message from the ultimate customer of Citibank saying, 'Compared to the other banks, you guys are ahead. I mean it's just so fast to open a single account, we are impressed.' Getting that message paid off the entire project and investment with TIBCO, and was a huge incentive for us," said Mercadante.
"The extraordinary results of Citibank Brazil are a testament to what can be accomplished when a company pursues business transformation with the right methodologies and technologies," said Thomas Been, director of product marketing, TIBCO Software Inc. "ActiveMatrix BPM was designed to be business friendly and perform with enterprise strength. Our solutions are providing the means for business transformation, as well as for meeting the high technical standards that come along with being a mission-critical system within an organization like Citibank."
Learn more about Citibank Brazil's success at: http://www.tibco.com/bpm
About Citibank Brazil:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
TIBCO Software Inc. (NASDAQ: TIBX) is a global leader in infrastructure and business intelligence software. Whether it's optimizing inventory, cross-selling products, or averting crisis before it happens, TIBCO uniquely delivers the Two-Second Advantage® -- the ability to capture the right information at the right time and act on it preemptively for a competitive advantage. With a broad mix of innovative products and services, TIBCO is the strategic technology partner trusted by businesses around the world. Learn more about TIBCO at www.tibco.com.
TIBCO, Two-Second Advantage, ActiveMatrix, Spotfire, and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. or its subsidiaries in the United States and/or other countries. Other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.