HSBC Selects Pegasystems Software as Global Standard; Pegasystems' SmartBPM to Be Enterprise BPM Toolset
CAMBRIDGE, Mass., Oct. 4, 2005 — Pegasystems Inc. (Nasdaq: PEGA), the leading provider of smart business process management (BPM) software, today announced that HSBC has selected Pegasystems as its global standard for rules-driven workflow automation.
"We have selected Pegasystems as the standard tool for our BPM needs based on their proven automation capability, the strength they bring in using the combination of both rules and process engines, as well as the scalability of the product," said Ken Harvey, HSBC's Group CIO. "The selection followed benchmarking and proof of concept pilots. The ability of their J2EE architecture to support HSBC's next-generation architecture (R2) was also a critical factor in the selection."
Initial projects include the Securities, Asia Pacific Retail Lending, and the Global Payments & Cash Management businesses. HSBC will be building a Center of Excellence for BPM in both Chicago and India.
Pegasystems CEO and Chairman Alan Trefler said, "We are delighted to sign an enterprise agreement with one of the world's top five banking and financial services organizations. Enterprise transformation requires a scalable tool that can deliver agility and support process automation to reduce costs, create revenue, and underpin compliance."
"I am thrilled that our existing relationship with HSBC has culminated in this agreement," added David Wells, Vice President and Managing Director, Pegasystems EMEA. "Pegasystems has consistently proven its ability to engage with the largest enterprises and deliver unique value to support business change. I look forward to the challenge of supporting projects in the multiple lines of business of HSBC globally."
Headquartered in London, HSBC is one of the largest banking and financial services organizations in the world. HSBC's international network is composed of about 10,000 offices in 76 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East, and Africa. With listings on the London, Hong Kong, New York, Paris, and Bermuda stock exchanges, shares in HSBC Holdings plc are held by nearly 200,000 shareholders in some 100 countries and territories. The shares are traded on the New York Stock Exchange in the form of American Depositary Receipts. Through an international network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking, and markets; private banking; and other activities.
Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega’s applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega’s Global 3000 customers include many of the world’s most sophisticated and successful enterprises. Pega’s applications, available in the cloud or on-premises, are built on its unified Pega 7 platform, which uses visual tools to easily extend and change applications to meet clients’ strategic business needs. Pega’s clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at www.pega.com.
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