BELLEVUE, Wash. - An independent research study co-sponsored by Onyx® Software Corporation (NASDAQ: ONXS) and Microsoft® found that leading US financial institutions are not utilizing their call center or Internet channels when interacting with customers. Results of the study, conducted by independent consulting firm Celent Communications, indicate that only 11 percent of the 150 firms researched followed up after the initial contact with highly-qualified prospects who inquired about financial products and services via the Web and call center. Furthermore, only 21 percent of the firms studied provided online responses to Web-based inquiries that were categorized as "good" or "acceptable." In the call center, only 31 percent of the firms delivered informative and helpful responses.

The study is an update to the Celent "Missed Revenue Opportunities" study co-sponsored by Onyx Software and Microsoft in 2000, which measured the responsiveness of financial institutions to Web-based queries. The scope of the research was expanded this year to include information on call center responses. Posing as highly-qualified individuals and small business owners in need of a variety of financial products and services, Celent staff queried the leading banking, brokerage, mutual fund, insurance and Internet-only e-financial service firms in the United States, attempting to capture both quantitative and qualitative information. For example, one of the five queries used in the study came from a couple with a $200,000 annual income planning to make a 20 percent down payment on a mortgage for a home valued at $650,000.

"It's especially critical in times of economic volatility that financial institutions effectively manage relationships with prospects and customers," said Kevin Hoffberg, chief knowledge officer and director of vertical marketing, Onyx Software. "While it's tempting to hold off on investing in CRM initiatives as a short-term cost-containment move, the results of this study underscore the need for these firms to take immediate steps to improve response, capitalize on all opportunities to get and keep profitable customers and neutralize competitive threats."

"Microsoft and Onyx teamed again to sponsor this important research because we're convinced that it gives financial institutions valuable information on establishing stronger relationship with their prospects and customers," said Warren Lewis, managing director, worldwide banking, Microsoft. "The results of this year's study were very similar to those of the previous year; indicating that leading US firms can still derive significant benefit from solutions that support customer acquisition and retention strategies. We're hopeful that the industry will use this information to better serve their customers."

"An opportunity clearly exists for a financial institution to fill the void and rise above the competition by delivering personalized, high-quality customer sales and service," said Octavio Marenzi, president, Celent Communications. "The level of disinterest we uncovered in the study is alarming, especially given the current economic climate and the fact that contact was initiated by high net worth individuals and profitable small business owners, which most firms should consider a highly-desirable customer/prospect segment. Armed with superior technologies and better processes, financial firms can deliver real business value to customers and prospects, and clearly distinguish themselves from the competition."

Celent Study: Improvement Needed in Both Initial Response Quality and Follow up
The study focused both on the quality of the initial customer experience when contacting a financial institution via the phone or Web site and on the follow-up process. No financial institution in the study received top ratings for both call center and Web queries in all five categories: high quality response, rapid response, personalized response for Web queries, cross-selling initiatives via the call center and follow-up contact.

• Web Site Queries. Though the number of firms providing a Web-based communication channel increased from 44 percent in 2000 to 65 percent in 2001, the percentage of institutions receiving a "good response" rating actually decreased from 23 to 21 percent, and those receiving a "poor response" rating rose from 21 percent in the 2000 study to 44 percent for this year. This is simply because the firms that did offer a Web based communication channel frequently elected not to use it. Only six percent of the Web inquiries received follow-up contact, defined as a separate communication with the individual on the same subject (not including automated e-mail responses). This is a gain of only one percent over last year's study.
• Call Center Queries. Though the percentage of call center responses categorized as "good" was slightly higher than the Web responses, nearly 70 percent of financial institutions are either providing a poor response or no response at all to prospective customers. The study indicated that on most occasions call center staff provided inadequate information in a lackluster fashion, and only a handful of firms handled call transfers well. Few financial institutions captured customer data during the initial call, and only 15 percent contacted the individual to follow up.

To request a full report on the financial services study "Capturing the Customer: A Study of Customer Service Practices among Financial Institutions," please send email to USEFSWhitepaper@onyx.com.

About Celent Communications
Celent Communications is a research and consulting firm dedicated exclusively to the role of e-commerce and the Internet in the financial services industry. As part of its consulting and advisory services, Celent helps financial institutions rapidly create new business and technology strategies. Celent's consultants have worked with leading banks and brokerages as well as with technology vendors and dot.coms to evaluate opportunities on the Internet. Celent's research service provides ongoing insight and analysis on e-financial services, publishing monthly reports on the latest developments and trends. For more information, visit Celent's website at www.celent.com or call 617-573-9450.

About Onyx Software
Onyx Software Corp. (NASDAQ: ONXS) is a leader in the financial services marketplace with more than 90 leading e-financial services and investment management customers worldwide. The company is a global supplier of customer relationship management (CRM) enterprise applications that power a company's entire business world, connecting sales, marketing and service organizations with customers, prospects and partners. Through an innovative mix of Internet technology, strategic services and customer commitment, Onyx helps companies create the seamless, branded customer experiences they need to forge competitive advantage and build real business value. Its reliable, scalable, flexible, holistic solutions enable companies to attract, acquire and retain customers and partners across all channels and touch points. Onyx customers include American Express, Broadwing, Commerce One, Credit Suisse, Dreyfus, FirstWorld Communications, Portland Trail Blazers, Prudential Investments and Sierra Health Services. Get more information at 888-ASK-ONYX, or email info@onyx.com.

This press release contains forward-looking statements. Forward-looking statements are based on the opinions and estimates of management at the time the statements are made and are subject to risks and uncertainties that could cause actual results to differ materially from those anticipated in the forward-looking statements. The words "believe," "expect," "intend," "anticipate," variations of such words, and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Factors that could affect Onyx's actual results include, but are not limited to, the "Important Factors That May Affect Our Business, Our Results of Operations and Our Stock Price" described in our quarterly report on form 10-Q for the period ending March 31, 2001. Readers are cautioned not to place undue reliance upon these forward-looking statements that speak only as to the date of this release. Onyx undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events.

Onyx is a registered trademark of Onyx Software Corporation in the United States and other countries. Microsoft is a registered trademark of Microsoft Corporation in the United States and/or other countries.

Contact:

Joan Speich Waggener Edstrom Telephone: 503.443.7265 Fax: 503.443.7001

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MEDIA CONTACTS

Americas / Corporate Headquarters Mitch Briggs Public Relations Coordinator Consona Corporation Telephone: 317.249.1620 Mobile: 317.829.4210 Europe, Middle East, Africa Richard Furby Managing Director, Onyx UK Telephone: +44 (0) 1344 322 199 Fax: +44 (0) 1344 489 035 Japan Daisuke Sawamura Director, Professional Services Telephone: +81 03 5215 7311