UmbrellaBank.com Triples Customer Conversion Rate With Kana

Marketing Solution Drives Event-Triggered Membership and Deposit Campaigns

That Dwarf Industry Averages



Apr 24, 2001, 01:00 ET from Kana Communications, Inc.

    REDWOOD CITY, Calif., April 24 /PRNewswire Interactive News Release/ --
 UmbrellaBank.com, the online banking operation of Chicago-based Argo Federal
 Savings Bank, F.S.B., estimates that it has tripled its new customer
 conversion rate using the latest version of Kana Connect(TM), a personalized
 marketing application from the Kana enterprise relationship management (eRM)
 solution. The solution from Kana Communications, Inc. (Nasdaq:   KANA) has
 delivered a cost-effective customer acquisition system that allows
 UmbrellaBank.com to acquire and maintain new and existing Internet banking
 relationships.
     (Photo:  NewsCom: http://www.newscom.com/cgi-bin/prnh/20010307/KANALOGO )
     UmbrellaBank.com is a nine-month-old Internet-based bank, already with
 8,400 customers and more than $225 million in deposits. It has improved
 customer relationships and lowered costs through event-driven e-mail campaigns
 and an integrated traditional and electronic direct marketing campaign using
 the Kana Connect 6 marketing solution.
     Kana Connect is driving targeted marketing campaigns triggered by new
 account openings and other cross-sell product selections. UmbrellaBank.com
 sends personalized account opening confirmation notices to its approved
 customers with specific instructions for fulfilling an account, such as
 funding options and pre-populated signature card information.
 UmbrellaBank.com's fulfillment rates -- customers following through and
 depositing money into their new accounts -- stand at over 75 percent, well
 above published industry averages. Kana Connect collects and tracks all this
 data, and segments UmbrellaBank.com customers for targeted upsell and
 cross-sell efforts.
     "We had Kana when we opened our virtual doors last July, and
 UmbrellaBank.com has quickly generated nearly $230 million in customer
 deposits and deepened our customer relationships," said George Yedinak, CIO of
 UmbrellaBank.com. "Kana is a strategic part of that success. It's one of our
 most important foundation technologies and a key to acquiring and retaining
 our customers."
     In its campaign for new customers, UmbrellaBank.com engages its prospects
 through an integrated on-line/off-line marketing campaign that combines direct
 mail philosophies with its Kana Connect implementation. Individuals in
 selected geographic areas receive a direct mail marketing message containing a
 Web address and a PIN. When the recipient visits the Web address and enters
 the PIN, a personalized product offering is delivered to the consumer via
 e-mail based on the consumer's Kana Connect profile. The mixed media
 experience appeals to its customers and differentiates UmbrellaBank.com from
 its off-line competition by integrating traditional marketing channels along
 with electronic mail messaging.
     "UmbrellaBank.com has clearly deployed a successful strategy to acquire
 customers and strengthen existing bonds with its customers," said David
 Fowler, president of Kana. "Kana Connect gives the company an efficient,
 profitable way to personalize its corporate voice and collaborate with
 customers to enrich their portfolios."
 
     About Kana Connect
     Kana's eRM solutions integrate sales, marketing service throughout the
 enterprise. Kana Connect is a marketing solution that enables e-businesses to
 profile, segment, target and engage customers in one-to-one conversations
 through permission-based e-mail communication, which increases customer
 loyalty and decreases costs.
     Kana's Web-architected solution fully integrates with existing e-commerce
 systems, such as Umbrellabank.com's mixed Microsoft and Java environments, so
 that companies can combine existing customer profiles with new transaction
 data and customer preferences for use in any e-mail marketing campaigns. Kana
 Connect delivers:
 
     -- Permission-based campaigns
     -- Event-triggered messaging
     -- Personalized message content
     -- Universal customer history
     -- Conversion tracking
     -- Automated cross-selling and up-selling; and
     -- Robust reporting tools
 
     About UmbrellaBank.com
     UmbrellaBank.com is a division of Argo Federal Savings Bank, F.S.B., and
 services its customers exclusively on the Internet by providing FDIC-insured
 Checking, Savings, Money Market and Certificates of Deposit accounts, as well
 as access to ATMs at over 1700 locations throughout the United States. Along
 with its deposit products, UmbrellaBank.com has a full line of loan products,
 including VISA Credit Cards, Mortgages, and Home Equity Loans / Lines of
 Credit. Argo Federal Savings Bank, F.S.B. is a wholly-owned subsidiary of
 Argo Bancorp, Inc. (Nasdaq:   ARGO.OB) and is regulated by the Office of Thrift
 Supervision (OTS).
 
     About Kana Communications Inc.
     Kana Communications, Inc., a leading provider of Web-architected
 enterprise relationship management (eRM) solutions, delivers a broad range of
 world-class, integrated e-business and interaction applications with a modular
 and scalable platform for both Internet and Global 2000 companies. Kana
 delivers solutions that offer customers, partners and the enterprise a global
 view of their communications and relationships. This global view includes
 managing the full set of communications channels such as e-mail, Web, chat,
 instant message, VOIP, phone and person-to-person, as well as e-business and
 communications applications to integrate the marketing, sales and service
 functions. This full-service suite enables e-businesses to compete and succeed
 in today's customer-driven economy. For more information about the solutions
 found in Global 2000 and leading Internet customers, please visit Kana at
 www.kana.com.
     NOTE:  Kana Communications, Kana and the Kana logo are trademarks of Kana
 Communications, Inc. All other company and product names may be trademarks of
 their respective owners.
     Cautionary Note Regarding Forward-looking Statements Under the Private
 Securities Litigation Reform Act of 1995:
     Information in this release and during the presentation that involves
 Kana's financial forecasts, projections, expectations, beliefs, hopes, plans,
 intentions or strategies regarding the future are forward-looking statements
 that involve risks and uncertainties. These statements include statements
 about Kana's strategies in the marketplace, its market position and its
 relationship with customers.  All forward-looking statements included in this
 release are based upon information available to Kana as of the date of the
 release, which may likely change, and we assume no obligation to update any
 such forward-looking statement. These statements are not guarantees of future
 performance and actual results could differ materially from our current
 expectations. Factors that could cause or contribute to such differences
 include, but are not limited to, risks associated with our proposed merger
 with Broadbase Software, Inc. and completion of such merger, competition in
 our marketplace, risks associated with the evolving and varying demand for
 eRM, eCRM, customer communication and similar software, our ability to manage
 our cash position and expenditures, our history of losses, our ability to
 expand sales, our ability to manage our business in light of recent management
 changes and personnel reductions, continued acceptance of email and the
 Internet as a communications medium, litigation over property rights, and
 general economic factors, particularly as it affects spending by our
 prospective customers on software products such as ours. These and other
 factors are risks associated with our business that may affect our operating
 results are discussed in the Company's filings with the Securities and
 Exchange Commission ("SEC"), including our most recent annual report on Form
 10-K and quarterly report on Form 10-Q.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X40478398
 
 

SOURCE Kana Communications, Inc.
    REDWOOD CITY, Calif., April 24 /PRNewswire Interactive News Release/ --
 UmbrellaBank.com, the online banking operation of Chicago-based Argo Federal
 Savings Bank, F.S.B., estimates that it has tripled its new customer
 conversion rate using the latest version of Kana Connect(TM), a personalized
 marketing application from the Kana enterprise relationship management (eRM)
 solution. The solution from Kana Communications, Inc. (Nasdaq:   KANA) has
 delivered a cost-effective customer acquisition system that allows
 UmbrellaBank.com to acquire and maintain new and existing Internet banking
 relationships.
     (Photo:  NewsCom: http://www.newscom.com/cgi-bin/prnh/20010307/KANALOGO )
     UmbrellaBank.com is a nine-month-old Internet-based bank, already with
 8,400 customers and more than $225 million in deposits. It has improved
 customer relationships and lowered costs through event-driven e-mail campaigns
 and an integrated traditional and electronic direct marketing campaign using
 the Kana Connect 6 marketing solution.
     Kana Connect is driving targeted marketing campaigns triggered by new
 account openings and other cross-sell product selections. UmbrellaBank.com
 sends personalized account opening confirmation notices to its approved
 customers with specific instructions for fulfilling an account, such as
 funding options and pre-populated signature card information.
 UmbrellaBank.com's fulfillment rates -- customers following through and
 depositing money into their new accounts -- stand at over 75 percent, well
 above published industry averages. Kana Connect collects and tracks all this
 data, and segments UmbrellaBank.com customers for targeted upsell and
 cross-sell efforts.
     "We had Kana when we opened our virtual doors last July, and
 UmbrellaBank.com has quickly generated nearly $230 million in customer
 deposits and deepened our customer relationships," said George Yedinak, CIO of
 UmbrellaBank.com. "Kana is a strategic part of that success. It's one of our
 most important foundation technologies and a key to acquiring and retaining
 our customers."
     In its campaign for new customers, UmbrellaBank.com engages its prospects
 through an integrated on-line/off-line marketing campaign that combines direct
 mail philosophies with its Kana Connect implementation. Individuals in
 selected geographic areas receive a direct mail marketing message containing a
 Web address and a PIN. When the recipient visits the Web address and enters
 the PIN, a personalized product offering is delivered to the consumer via
 e-mail based on the consumer's Kana Connect profile. The mixed media
 experience appeals to its customers and differentiates UmbrellaBank.com from
 its off-line competition by integrating traditional marketing channels along
 with electronic mail messaging.
     "UmbrellaBank.com has clearly deployed a successful strategy to acquire
 customers and strengthen existing bonds with its customers," said David
 Fowler, president of Kana. "Kana Connect gives the company an efficient,
 profitable way to personalize its corporate voice and collaborate with
 customers to enrich their portfolios."
 
     About Kana Connect
     Kana's eRM solutions integrate sales, marketing service throughout the
 enterprise. Kana Connect is a marketing solution that enables e-businesses to
 profile, segment, target and engage customers in one-to-one conversations
 through permission-based e-mail communication, which increases customer
 loyalty and decreases costs.
     Kana's Web-architected solution fully integrates with existing e-commerce
 systems, such as Umbrellabank.com's mixed Microsoft and Java environments, so
 that companies can combine existing customer profiles with new transaction
 data and customer preferences for use in any e-mail marketing campaigns. Kana
 Connect delivers:
 
     -- Permission-based campaigns
     -- Event-triggered messaging
     -- Personalized message content
     -- Universal customer history
     -- Conversion tracking
     -- Automated cross-selling and up-selling; and
     -- Robust reporting tools
 
     About UmbrellaBank.com
     UmbrellaBank.com is a division of Argo Federal Savings Bank, F.S.B., and
 services its customers exclusively on the Internet by providing FDIC-insured
 Checking, Savings, Money Market and Certificates of Deposit accounts, as well
 as access to ATMs at over 1700 locations throughout the United States. Along
 with its deposit products, UmbrellaBank.com has a full line of loan products,
 including VISA Credit Cards, Mortgages, and Home Equity Loans / Lines of
 Credit. Argo Federal Savings Bank, F.S.B. is a wholly-owned subsidiary of
 Argo Bancorp, Inc. (Nasdaq:   ARGO.OB) and is regulated by the Office of Thrift
 Supervision (OTS).
 
     About Kana Communications Inc.
     Kana Communications, Inc., a leading provider of Web-architected
 enterprise relationship management (eRM) solutions, delivers a broad range of
 world-class, integrated e-business and interaction applications with a modular
 and scalable platform for both Internet and Global 2000 companies. Kana
 delivers solutions that offer customers, partners and the enterprise a global
 view of their communications and relationships. This global view includes
 managing the full set of communications channels such as e-mail, Web, chat,
 instant message, VOIP, phone and person-to-person, as well as e-business and
 communications applications to integrate the marketing, sales and service
 functions. This full-service suite enables e-businesses to compete and succeed
 in today's customer-driven economy. For more information about the solutions
 found in Global 2000 and leading Internet customers, please visit Kana at
 www.kana.com.
     NOTE:  Kana Communications, Kana and the Kana logo are trademarks of Kana
 Communications, Inc. All other company and product names may be trademarks of
 their respective owners.
     Cautionary Note Regarding Forward-looking Statements Under the Private
 Securities Litigation Reform Act of 1995:
     Information in this release and during the presentation that involves
 Kana's financial forecasts, projections, expectations, beliefs, hopes, plans,
 intentions or strategies regarding the future are forward-looking statements
 that involve risks and uncertainties. These statements include statements
 about Kana's strategies in the marketplace, its market position and its
 relationship with customers.  All forward-looking statements included in this
 release are based upon information available to Kana as of the date of the
 release, which may likely change, and we assume no obligation to update any
 such forward-looking statement. These statements are not guarantees of future
 performance and actual results could differ materially from our current
 expectations. Factors that could cause or contribute to such differences
 include, but are not limited to, risks associated with our proposed merger
 with Broadbase Software, Inc. and completion of such merger, competition in
 our marketplace, risks associated with the evolving and varying demand for
 eRM, eCRM, customer communication and similar software, our ability to manage
 our cash position and expenditures, our history of losses, our ability to
 expand sales, our ability to manage our business in light of recent management
 changes and personnel reductions, continued acceptance of email and the
 Internet as a communications medium, litigation over property rights, and
 general economic factors, particularly as it affects spending by our
 prospective customers on software products such as ours. These and other
 factors are risks associated with our business that may affect our operating
 results are discussed in the Company's filings with the Securities and
 Exchange Commission ("SEC"), including our most recent annual report on Form
 10-K and quarterly report on Form 10-Q.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X40478398
 
 SOURCE  Kana Communications, Inc.