DENVER, Oct. 1 /PRNewswire-FirstCall/ -- TeleTech Holdings, Inc. (Nasdaq: TTEC), a global provider of customer solutions, signed a multi-year agreement with Banco Santander, an international financial institution with $335 billion in assets and a presence in 42 countries.
Under terms of the agreement, TeleTech will provide customized customer solutions for Banco Santander's home banking and credit card services support, equipment, machine and vehicle leasing and real estate mortgage services. Additionally, TeleTech's Brazilian unit will provide investment management services, support the bank's life insurance products and perform various administrative services, such as customer account maintenance. In order to support the Banco Santander relationship, TeleTech added an additional customer management center and more than 1,200 dedicated employees to its Brazilian presence.
"Banco Santander is one of the largest and most well respected banks in Latin America, and has a well-known history of providing superior customer service," said Marcelo Franca, TeleTech's Latin American president and general manager. "The bank was very deliberate in its approach to this relationship, resulting in a comprehensive solution to significantly improve customer relationships and further differentiate itself as a market leader."
ABOUT TELETECH
TeleTech partners with clients to develop and execute relevant solutions that enable them to build and grow profitable relationships with their customers. TeleTech has built a global capability supported by 52 customer interaction environments that employ more than 27,000 professionals spanning North America, Latin America, Asia-Pacific and Europe. For additional information, visit www.teletech.com .
FORWARD LOOKING STATEMENTS
All statements not based on historical fact are forward-looking statements that involve substantial risks and uncertainties. In accordance with the Private Securities Litigation Reform Act of 1995, following are important factors that could cause TeleTech's and its subsidiaries' actual results to differ materially from those expressed or implied by such forward-looking statements, including: economic or political changes affecting the countries in which the company operates; greater than anticipated competition in the customer care market, causing increased price competition or loss of clients; the reliance on a few major clients; the risks associated with losing one or more significant client relationships; the renewal of client or vendor relationships on favorable terms; the risks associated with client concentration; the ability to transition work from higher cost centers to lower cost markets; the company's ability to develop and successfully manage new technology or Database Marketing and Consulting sales; the company's ability to collect monies owed from clients per contract terms and conditions in a timely manner; higher than anticipated start-up costs associated with new business opportunities and ventures; the company's ability to find cost effective locations, obtain favorable lease terms and build or retrofit facilities in a timely and economic manner; lower than anticipated customer management center capacity utilization; consumers' concerns or adverse publicity regarding the products of the company's clients; the company's ability to close new business in 2003 and fill excess capacity; execution risks associated with achieving the targeted $40 million in annualized cost savings; the possibility of additional asset impairments and restructuring charges; the ability to successfully execute an intercreditor agreement related to the company's recently amended debt agreements; the ultimate liability associated with the amount of past sales or use tax obligations for its Database Marketing and Consulting and North American Outsourcing segments; changes in workers' compensation and general liability premiums; increases in healthcare costs; risks associated with changes in foreign currency exchange rates; changes in accounting policies and practices pronounced by standard setting bodies; and, new legislation or government regulation that impacts the customer care industry. Readers should review the company's Form 10-K for the year ended December 31, 2002, Forms 10-Q for the first and second quarters of 2003 and other documents filed with the Securities and Exchange Commission, which describe in greater detail these and other important factors that may impact the company's business, results of operations, financial condition and cash flows. The company assumes no obligation to update its forward-looking statements to reflect actual results or changes in factors affecting such forward-looking statements.
SOURCE TeleTech Holdings, Inc.