Wachovia Is Using KANA

June 6, 2005

KANA, a provider of service resolution management (SRM) solutions, announced today that financial services provider�Wachovia Corporation�is using KANA Response Live to provide mortgage customers the ability to send and receive live, real-time text messages with a Wachovia Mortgage loan counselor during the online mortgage origination process. The solution also ensures customers are able to share their desktop with a loan counselor, allowing Wachovia to troubleshoot any difficulties w/r/t loan applications.

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During a three-month period, Wachovia piloted KANA Response Live by placing promotional links on the mortgage application pages and on various content pages. This enabled customers to select a live chat session with a Wachovia mortgage loan counselor. The results, according to the company, showed that customers who participated in a chat session during the online application process were “25 percent more likely to close their mortgage with Wachovia.”

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KANA Response Live aims to easily engage customers and prospects with agents, ensuring that self-service transactions are resolved as quickly as possible and with positive results for both the company and the customer. Text chat and Web page co-browsing provide live assistance via lower-cost channels for delivery of better responsiveness in customer service.

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See press release below.

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WACHOVIA TEAMS UP WITH KANA TO PROVIDE ONLINE CHAT AND CO-BROWSING TO POTENTIAL MORTGAGE CUSTOMERS

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CHARLOTTE, N.C. and MENLO PARK, Calif – Wachovia Corporation and KANA (Nasdaq: KANAE), a leading provider of service resolution management solutions, today announced that Wachovia is using KANA Response Live to provide mortgage customers the ability to send and receive live, real-time text messages with a Wachovia Mortgage loan counselor during the online mortgage origination process.� The solution also ensures customers are able to share their desktop with a loan counselor, allowing Wachovia to trouble shoot any loan application difficulties.

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The company piloted KANA Response Live during a three-month period by placing promotional links on the mortgage application pages and on various content pages giving customers the ability to select a live chat session with a Wachovia mortgage loan counselor. Customers who participated in a chat session during the online application process were 25 percent more likely to close their mortgage with Wachovia.

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"KANA allows us to integrate real-time, personal assistance and expertise with the convenience and value provided by the Internet,” said Gary Suess director of Wachovia Mortgage’s Direct Lending channel. “We are very excited about our continuing efforts to provide a superior customer experience."

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With KANA Response Live, customers and prospects can easily engage with agents ensuring that self-service transactions are resolved as quickly as possible and with positive results for both the company and the customer. Text chat and Web page co-browsing provide live assistance via lower-cost channels to deliver a new level of responsiveness in customer service.

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"Great on-line service results in less customer abandonment, less customer frustration and higher transaction completion rates,” said Brian Kelly, executive vice president of corporate strategy at KANA. “Wachovia Mortgage customers get their questions answered immediately while on-line by chatting with agents made available through KANA Response Live. By not having to abandon the Web site and make a phone call, customers enjoy a faster and more productive experience.”

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Wachovia Bank recently scored higher than its banking industry peers for the fourth consecutive year in the University of Michigan Business School’s American Customer Satisfaction Index. The study solidified Wachovia as the number one provider of customer service in banking and was particularly impressive as it included the completion of the First Union/Wachovia merger in 2003 and the announcement of the SouthTrust/Wachovia merger in November 2004. This added technology is just one more illustration of the company’s commitment to excellent customer service.

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“By understanding where the customer initiates a chat and why, we can remove areas of customer confusion by changing and improving the application process,” said Suess.