Partnerships
Another important part of Pegasystems’ plans is around partnerships. This includes distributors, services companies (Capgemini and Accenture were cited by Clark as the main European partners) and OEM partners. The latter category is the least mature at present, but there are conversations with some providers about embedding BPM into their applications, such as for core banking and payments. In most cases, there are no complications but there are some companies that Pegasystems is unlikely to work with – Clark did not foresee an OEM tie-up for Flexcube, for instance, given its residence within Oracle. Historically, Pegasystems has worked with Oracle though, including in 2005 on the company’s ‘ERP for Payments’ offering. IBM also, inspite of the eating sand comment, has been a particularly proactive partner. Others include Agora Group, Bizmatica,
BPM Specialists, Cirquent, Cognizant, GalaxE Solutions, Grand Insight, HCL, HighPoint Solutions, Hitachi, iBridge Group, Incessant, Infosys, KForce, Mahindra Satyam, MSG Systems, Rulesware, TCS, Tritek Solutions, Virtusa, and Wipro. Pegasystems also worked with Swift in 2009 on the pilot testing of its electronic bank account management (eBAM) tool and a few years earlier on its ultimately unsuccessful SwiftNet Exceptions & Investigations (E&I) service.
Uptake and customer experiences
JP Morgan Chase has been a long-standing customer, initially working with Pegasystems in the mid-1980s for exceptions management for its wholesale banking global wire transfer activities. Since then, it has taken the solutions into credit cards, retail banking and investment banking/securities. HSBC is another notable user, working with Pegasystems within a major programme to rebuild its payment infrastructure, using SmartBPM for exceptions and enquiries. The bank was also working with the supplier on a loan origination project run out of Asia. According to HSBC’s enterprise architecture head, Jeff Wolfers, speaking to IBS in early 2007, ‘Pega’, as it is known, gave the bank the flexibility it needed if it was to succeed in deploying a common payments engine across the many different countries in which it operated, with different product offerings, business practices, payment mechanisms and regulatory requirements. Pegasystems, he said, was the HSBC standard for complex, high-value workflow projects. The roll-out started in May 2009 and, by the end of October, the E&I solution was live across the Middle East and most of Europe, constituting 20 countries, with the intention to have more than 60 live by mid-2010. BB&T is a user in the area of loan origination plus internet-based account opening; AIG was a user for product configuration. Despite the broadening, Pegasystems is still strong in the exceptions management space, as reflected in a number of projects centred on Swift’s SwiftNet E&I service (an upgrade in late 2006 by Standard Chartered to SmartBPM included a SwiftNet E&I aspect). An interesting UK-based taker has been Xchanging, which has seen major growth in the last decade by taking over and improving third party back offices. Following a successful implementation of the BPM suite at the settlement and claims processing unit it ran on an outsource basis for the UK’s Lloyd’s insurance market, it announced in 2009 that it was to also roll it out at its German operation, effectively Deutsche Bank’s
232
securities, funds and derivatives middle and back office (which had been run by Xchanging since 2004). For Deutsche Bank, Xchanging was to
handle the
operations side of the bank’s securities business in Germany, as well as some other areas such as human resources. Xchanging ultimately anticipated the application of BPM across many areas of its business, with PegaRULES as the group-wide standard. Pegasystems is part of a AU$60 million (US$57 million) technology transformation programme at Australia-based ME Bank, which will deliver 24 technology solutions over 15
projects.The bank was seeking to boost its customer base from 280,000 members to at least 500,000 in the next three years, stated Kathryn Hawkins, CIO, in late 2013. The bank initially invested in building an organisation competence model, which was then used to overlay the strategic business plan and the technology support. This was when it was discovered that the existing technology set-up was too limited, and lacked agility and flexibility. ‘ It selected Temenos’ T24 for its new core system. ‘It is
important to understand that replacing the platform was not enough to take the organisation where it needs to be,’ said Hawkins. ‘We realised early on we needed to change the way we operated – our processes and capabilities – to take advantage of the new opportunities.’ The bank felt this required a new BPM solution and Pegasystems’ offering was deemed the optimal choice. ‘We are not a large organisation and can’t be experts at everything, so we looked for a BPM solution that had a lot of pre-built frameworks that we could build on instead of starting from a blank sheet,’ she explained. The new BPM platform was implemented in September 2013. ‘The first process implemented on the new platform enables customers to open their own transaction accounts online within minutes.’ Hawkins describes it as ‘a major milestone’. The second phase of the project, which also includes the implementation of T24, has additional BPM capabilities. T24 will be ME Bank’s single solution for assets
Payment Systems & Suppliers Report |
www.ibsintelligence.com
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