Pegasystems Supports Nordea to Automate Investigations with Business Process Management Software
CAMBRIDGE, Mass., Oct. 29, 2004 — Pegasystems Inc. (NASDAQ: PEGA), a leader in rules-based, smart business process management (BPM) software, today announced that it has been chosen as the supplier of business process management software by Nordea, the leading Nordic financial services group.
The initial phase of the program will roll out PegaBANKING™ Smart Investigate™ to four of Nordea's payment processing areas: Helsinki, Copenhagen, Oslo, and Stockholm. Additional projects within global operational services, such as Treasury and Custody, will also be reviewed, with the goal of further enhancing operational processes across the entire organization.
PegaBANKING Smart Investigate, which Pegasystems recently made available on its PegaRULES Process Commander V4 platform, automates inquiry and exception processing activities across numerous wholesale banking departments, including payments, foreign exchange, Nostro reconciliations, and more. It handles the receipt and processing of incoming messages, sends outbound correspondence in SWIFT and other formats, searches for related transactions, and processes compensation claims and adjustments.
"This agreement with Nordea is a great endorsement of Smart Investigate and provides us with an opportunity to work with one of the Nordic region's largest banks. I understand Nordea was impressed by the business case for Pegasystems and reassured by our successful implementations at UBS and Rabobank," said David Wells, vice president, Europe, for Pegasystems.
Nordea is the leading financial services group in the Nordic and Baltic Sea region, with approximately EUR 262 billion in assets. It operates through three business areas: Retail Banking, Corporate and Institutional Banking, and Asset Management & Life. It has nearly 11 million customers and 1,240 branch offices, and is a world leader in Internet banking, with more than 3.5 million e-customers. Nordea shares are listed in Stockholm, Helsinki and Copenhagen. For more information, visit www.nordea.com.
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, among others, 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 significantly. Further information is contained in the Company's most recent report on form 10-Q or 10-K and other recent filings on file with the Securities and Exchange Commission.
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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
VP, Corporate Communications
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