Pegasystems Announces Business Process Management Solutions for Wholesale Banking; Delivering Service-Oriented Business Applications for Account Opening
COPENHAGEN, Denmark & CAMBRIDGE, Mass., Sept. 5, 2005 — In order to help wholesale banks realize greater revenue, productivity, and compliance, Pegasystems Inc. (Nasdaq: PEGA), the leader in smart business-process management software, today unveiled plans to develop new services-oriented business applications (SOBAs) at the SIBOS tradeshow in Denmark. These business solutions will bring together Pegasystems' SmartBPM™ product with IBM Business Consulting Services, WebSphere middleware, and IBM's Information FrameWork business models for banking (IFW), to provide fast "starter-templates" that banks can use out-of-the box to rapidly drive top-line growth and bottom-line savings in wholesale bank account opening.
The goal of these solution frameworks is to provide wholesale banks with greater visibility into business processes, ensuring better control of activity and the ability to streamline these processes for better use of resources. Banks needing to increase close-rates, achieve a faster time to revenue, develop closer interdepartmental collaboration and automate manual tasks such as prequalification, data collection and closing and activation processes will use the application to drive these processes while ensuring compliance and reducing risk.
Pegasystems and IBM's Business Consulting Services work closely together in the market to define and deliver customized solutions to customers based on Pegasystems' platform and IBM's industry expertise.
"IBM and Pegasystems are combining strengths in process integration to offer rapid time to value delivered by Component Based and Service Oriented Architectures", said John Mesberg, vice president Industry Solutions, FSS. "In combination with IBM BCS subject-matter expertise, IBM IFW assets for Banking, and IBM SOA Foundation, Pegasystems delivers powerful and highly flexible business solutions to our mutual wholesale banking customers."
Tom Congoran, vice president of business development, Pegasystems, added "This is an important milestone in our relationship with IBM and an ideal means of providing our wholesale banking customers with a solution to deliver business benefits very quickly. Recent tests with IBM have also shown that our combined solutions can handle over 31,500 simultaneous users processing over 3 million unique cases in a single workday, demonstrating productivity, agility and unparalleled performance."
Pegasystems will be demonstrating wholesale banking solutions at the IBM Village at the SIBOS tradeshow in Copenhagen, Denmark, September 5–9.
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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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
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