Pegasystems and Misys Go to Market With Joint Corporate Banking Offering
CAMBRIDGE, Mass., Oct. 9, 2001 — Pegasystems Inc. (NASDAQ: PEGA) today announced that it is expanding its partnership with Misys International Banking Systems (Misys), a leading supplier of IT solutions to the global banking and financial services industry. Going forward, Misys will combine Midas, its leading back-office transaction-processing engine with Pegasystems' front-end PegaCRM Investigations software solution to provide a powerful transaction processing solution to corporate banking.
One of the key operational goals in corporate banking is to achieve STP (straight through processing) of financial transactions. Through this partnership, Misys can now provide its extensive customer base with improved operational cost effectiveness and comprehensive front-office CRM capabilities.
- Operational & cost-effectiveness — By applying rules that clean up transactions pre-posting, the Midas back-office transaction processing engine helps customers achieve a high level of STP on payments in both the funds and securities areas.
PegaCRM Investigations is an advanced exception process capability that allows customers to realize STP with problem resolution for payments and securities.
PegaCRM Investigations is a front-office process automation software that can decrease the time spent resolving exceptions and actually performs work for the enterprise across multiple customer contact channels.
- Relationship Management — PegaCRM Investigations will be the front-office software solution, acting as a gateway for the Midas transaction processing engine, to provide customers with overall CRM capabilities and enable them to fully manage customer relationships and improve customer service.
"Some of our customers are currently achieving STP percentages well above industry average on payments in both the funds and securities areas," said John Bertrand, Midas Product Centre Manager at Misys. "Pegasystems has proven its strength in automated claims exceptions processing with financial services institutions. There is compelling logic to link the Midas transaction processing engine, and the high percentage of STP it achieves for payments, with the PegaCRM Investigations solution, which offers equally high levels of STP for problem conditions. Combining these capabilities will help to provide a visible return on investment for our customers and will help them drive improvements in their individual business operations."
"Misys has an impressive transaction processing engine in Midas," said David Wells, vice president of North American and European Services, Pegasystems. "This partnership gives Pegasystems exposure to more than 700 users of Midas, especially in the European and Asian regions, allowing us to increase geographical visibility and leverage one of our key vertical market strengths."
About Misys International Banking Systems
Misys International Banking Systems, a wholly-owned subsidiary of Misys plc, is the world's premier supplier of solutions to the global banking and financial services industry, with annual sales of more than £200m. The company has an extensive network of international branches located in 29 countries around the world and employs over 1,900 staff. The Misys product range includes solutions for wholesale and retail banking, treasury and capital markets, trade finance, private banking and risk management.
Misys plc, a FTSE-250 company, is the UK's largest independent software products company and one of the world's 10 largest suppliers of application software, specialising in the international banking and securities, US healthcare, and UK insurance markets. In the financial year ended 31st May 2001, Misys achieved revenues of £849 million and operating profit of £140 million. The group currently has more than 5,700 employees worldwide.
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "hope," "anticipate," "plan," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These statements are based on current expectations and assumptions and involve various risks and uncertainties, which could cause the Company's actual results to differ from those expressed in such forward-looking statements. These risks and uncertainties include impact of pending regulatory proceedings, difficulty in predicting the completion of product implementations and consequently the timing of revenue recognition, the inability to attract and retain key employees, reliance on key third-party relationships, management of the Company's growth, and other risks and uncertainties. Further information regarding these and other factors which could cause the Company's actual results to differ materially from any forward-looking statements contained in this press release is contained in the Company's Quarterly Report on Form 10Q for the quarter ended June 30, 2001 on file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on such forward-looking statements and no assurances that the matters contained in such statements will be achieved.
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.
All trademarks are the property of their respective owners.
The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.
Lisa Pintchman Rogers
VP, Corporate Communications
Director, Corporate Communications
Sr. Manager, Public Relations
Director, Corporate Communications
+44 (0) 118 9651 660
PR & Communications Manager
+44 (0) 118 9398 584
One Rogers St.
Cambridge, MA 02142
Phone +1 617-374-9600
Fax +1 617-374-9620