Suncorp Metway Group Selects Pegasystems Solution for Loan Origination; Intelligent Lending Environment to Streamline Loan Origination Processes

CAMBRIDGE, Mass.-- July 18, 2000--Pegasystems Inc. (NASDAQ: PEGA), a leading provider of rules-based, Internet-architected electronic Customer Relationship Management (eCRM) software and solutions, has announced an agreement with Suncorp Metway Group to deliver a fully integrated loan origination solution. Australia's seventh-largest bank and eighth-largest general insurance company, Suncorp Metway will use the Pegasystems solution to manage customer information and to streamline processing of lending and service interactions.

Pegasystems' loan origination solution standardizes a company's best practices by automating the processing of lending and service interactions. With a one-time electronic information capture, transfer, and storage, customer information can be leveraged by service staff and delivered through multiple service channels. Automating routine tasks frees up staff to focus more on the customer's needs. Customers will be able to obtain the information they need more quickly by calling or using the company's Web site, and also may enjoy a faster turnaround time on loan applications.

"The relationship with Pegasystems is based on a commitment to encapsulate our business processes and the requirements of a lending service, making it easier for our customers to do business with us and the system easier for our staff to use," said John George, Senior Manager, Loan Operations, Suncorp Metway.

As Business Project Sponsor of the Suncorp Metway Intelligent Lending Environment Project, Mr. George has helped drive the Group's vision for a world's best-practice loan origination solution. "With information captured once, moved electronically through the system and stored for better use of historical data, the customer interface is simplified and staff are able to provide a broader, more customer-centric service. Customers benefit from increased ease of interface and a faster turnaround time on loan applications," he said. "Intelligent lending is about doing things more efficiently to meet compliance levels and to exceed customer service requirements. The Pegasystems solution is an intelligent one and will allow us to think about the customer instead of the processes."

The Pegasystems solution was selected following an exhaustive review process, assessed from the perspectives of business, technology enablement, and ability to integrate with the rest of Suncorp Metway's technology environment.

According to Mr. George, "Suncorp Metway approached a number of vendors and presented a clear vision of the loans origination solution we wanted. Pegasystems was able to understand our vision and demonstrate how its product could satisfy all our requirements. As an AllFinanz organisation, loans origination is a core part of our business and incorporates third-party interfaces. The new system will be extensive in its reach inside and outside the Suncorp Metway Group."

"Pegasystems is pleased to have been selected as a technology provider by the Suncorp Metway Group, one of Australia's largest financial services institutions," commented Bruce Quick, Vice President and Managing Director, Pacific Rim, Pegasystems. "Together we are confident of building a system that will not just streamline lending processes today, but will put in place the foundation for a system to manage change and further integrate lending processes in the future."

Pegasystems' loan origination solution at Suncorp Metway will consist of the following: PegaWORKS(TM), Pegasystems' patented workflow management engine, running on an HP UNIX server with an Oracle database, to automate lending and service processes; PegaCONNECT(TM), providing connectivity to legacy applications and databases; and PegaREACH(TM), a user-friendly desktop interface giving staff a single point of access to all relevant information. The solution will also incorporate PegaWEB(TM) on an HP UNIX server, an interface that provides self-service to borrowers via the Web.

About Suncorp Metway

The Suncorp Metway Group was formed on 1 December 1996 from the merger of three of Queensland's largest financial institutions --Suncorp, Metway and QIDC (Queensland Industry Development Corporation). Australia's seventh-largest bank and eighth-largest general insurance company, Suncorp Metway has total assets of A$24.9 billion. As an AllFinanz organisation, the Group is one of Australia's most diversified financial services providers, offering insurance, investment and banking products to 2.3 million customers through an extensive distribution network.

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 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.

 

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