Pegasystems to Provide eCRM Internet Application for New Zealand Association of Credit Unions

CAMBRIDGE, Mass., Sept. 25, 2000 — Pegasystems (NASDAQ: PEGA), a leading provider of rules-based, Internet-architected electronic Customer Relationship Management (eCRM) software and solutions, announced today that the New Zealand Association of Credit Unions (NZACU) has selected a Pegasystems eCRM solution to provide Internet capabilities to its member organizations. The system offers participating credit unions all standard Internet banking options including account inquiry, payments and funds transfer. Credit union customers will be able to download transactions to their PC, analyze details of interest earned and charged, and view a breakdown of direct credits to their account.

The Pegasystems eCRM solution is the system implemented by Corvis (formerly the Commercial IT Unit) of CUSCAL (Australian Credit Union Services Corporation) under the enterprise-wide licence granted to it by Pegasystems in 1999. The licence agreement permits Corvis to develop and market front-end retail banking applications to CUSCAL's member organizations and other credit unions.

Corvisflow Web, the integrated, Internet banking application developed under the Corvis agreement, is being used by seven Australian credit unions, with another seventeen being implemented. Extending the CUSCAL license to include its New Zealand counterpart, has allowed Pegasystems to adapt Corvisflow Web to suit New Zealand requirements and in order to minimize development time.

"Our relationship with the NZACU and our work with Corvis are great examples of how we collaborate with our customers to leverage expertise and deliver the best possible eCRM solution," said Bruce Quick, vice president and managing director, Pacific Rim, Pegasystems. "Internet banking is just the first stage in a total Customer Relationship Management solution to be adopted by NZACU as they look to optimize the benefits our solution provides."

Administration of the new system will be carried out by the NZACU's Business Services Division, which seeks to provide an environment in which credit unions can become the preferred banking services provider for the people of New Zealand. To this end, the NZACU's FACTS (Financial Accounting Transaction System) computer bureau has a 24-hour real-time network offering access to 53 sites for 34 member credit unions across the country.

"While FACTS is a robust retail banking system, well-suited for credit union operations, we needed a higher level of technology to help improve customer service delivery to our member credit unions, to better serve their customers," said Raymond Howard, marketing manager, NZACU. "NZACU sought to use current technology to deliver products to users efficiently, effectively and in a user-friendly format. We evaluated a number of alternatives and conferred with CUSCAL before selecting the Pegasystems solution. It enables us to provide high-quality service with its fast processing capability and seamless compatibility with our existing technology."

The Pegasystems' eCRM solution comprises PegaWORKS, Pegasystems' patented workflow management engine to automate member credit union service requests; PegaCONNECT, providing connectivity to legacy applications and databases; PegaREACH, a sophisticated thin-client front-end graphical user interface; and PegaWEB, a web-enabled interface to provide member self-service via the Internet.

About The New Zealand Association of Credit Unions

The New Zealand Association of Credit Unions is the Trade Association and Business Services Provider for 65 of the 80 Credit Unions in New Zealand. These 65 Credit Unions have total assets of around $325 million and in excess of 160,000 members.

Forward-Looking Statements

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. These statements 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 the impact of pending litigation and regulatory proceedings, material weaknesses in the Company's financial control environment, 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 1999 annual report on Form 10-K/A on file with the Securities and Exchange Commission.

About Pegasystems

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

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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.


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