Global Banking Solutions Alliance Formed

 
 
By Theresa Carey  |  Posted 2004-07-30 Print this article Print
 
 
 
 
 
 
 

Top-tier banks and card issuers and acquirers are the targeted market for the global strategic alliance formed by IBM and Pegasystems, which pairs IBM's infrastructure with Pegasystems' smart BPM applications for exceptions and dispute management.

IBM and Pegasystems Inc. have formed a global strategic alliance to deliver payments exceptions and compliance management solutions in order to solve some of the challenges facing global financial institutions. Targeted customers are top-tier banks and card issuers and acquirers. Through solution development that will pair IBMs infrastructure with Pegasystems smart BPM applications for exceptions and dispute management, wholesale and retail banking customers can benefit from reduced costs; decreased payment risks and loss; and rapid issue resolution for improved service and increased customer loyalty. "Deploying Pegasystems financial services applications as the exceptions hub on our scalable infrastructure can allow customers to realize breakthrough value in reduced costs and risk, while delivering greatly improved customer service," said June Felix, general manager of e-payments, risk and compliance at IBM. "Pegas extensive domain expertise and their unique approach—where business rules and process can change on demand—can help us execute IBMs on-demand strategy even more effectively."
Under the global alliance arrangement, Pegasystems is optimizing its suite of solutions for IBMs eServer family, including xSeries Windows and Linux; pSeries AIX and Linux; and zSeries Z/OS and Linux. In addition, the solutions will support IBMs family of database management software, including DB2 UDB on AIX, Z/OS and Linux. Running on the WebSphere infrastructure platform, including WebSphere Application Server and WebSphere MQ, the solutions will be managed by Tivoli.
"Customers will benefit from state-of-the-art payments solutions on leading-edge platforms, for accelerated improvements in cost reductions, risk control and customer service," said Henry Ancona, Pegasystems president and chief operating officer. "Pegasystems will gain the leverage of IBMs 2,000-plus sales staff, as well as the worlds leading IT services organization. And IBM can profit by driving significant incremental business in both their installed base and green-field opportunities." The announcement continues the growing relationship between the two companies. In March, Pegasystems joined IBMs Business Performance Management program and its ISV Advantage Initiative, and also reached an accord with IBM Business Consulting Services for global services delivery. Pegasystems provides a differentiated approach for solving complex exceptions, payments and risk-management challenges, combining out-of-the-box rule sets, prepackaged workflows and front-to-back-office integration. The companys smart BPM applications have been used by Bank of America, Bank of New York, Citigroup and JPMorgan Chase; eight of the top 15 U.S. card issuers; all 12 U.S. Federal Reserve Banks; and 20 percent of the nations Blue Cross Blue Shield licensees. Additional information about IBMs financial services solutions can be found here. Pegasystems is holding technical briefings on their BPM solution on Aug. 11 and Sept. 15 in Cambridge, Mass. Click here for more about Pegasystems offerings. Learn about the latest developments in financial technology in eWEEK.coms new
 
 
 
 
Theresa is the Editor of CIOInsight.com's Finance Industry Center. She's been writing about financial technology issues since 1990 for a wide variety of publications, including PC Magazine, Newsweek, Fortune, and Fortune Small Business. She is also a Contributing Editor to Barron's and writes their 'Electronic Investor' column.

Theresa received a B.A. from the University of California, Berkeley, and a M.S. from the University of Santa Clara. She also has a private pilot's license. When she's not at her computer, she coaches a local high school volleyball team, plays softball and volleyball, and takes part in many Cal Alumni Band events. She lives in Northern California.

 
 
 
 
 
 
 

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