JPMorgan Chase Extends License for Pegasystems Software

Pegasystems supports JPMorgan Chase in global funds transfer operations and check research and adjustments

Pegasystems supports JPMorgan Chase in global funds transfer operations and check research and adjustments

CAMBRIDGE, Mass.—August 6, 2003—Pegasystems Inc. (Nasdaq: PEGA), a provider of rules-based, smart business process management (BPM) software, announced that JPMorgan Chase signed an agreement in the first quarter of 2003 to extend its license for Pegasystems software in its Treasury & Securities Services and Chase Financial Services divisions. Pegasystems supports JPMorgan Chase in both global funds transfer operations and check research and adjustments. In addition, JPMorgan Chase utilizes Pegasystems technology to support service delivery in its lockbox, electronic funds transfer services and foreign exchange businesses.

"We are committed to providing the highest quality solutions to help deliver measurable returns on investment to clients," said Henry Ancona, president and COO, Pegasystems. "JPMorgan Chase and its predecessors have been valued customers of Pegasystems for more than 18 years, and we are eager to continue to work with them in developing solutions that meet clients' needs."

With Pegasystems' comprehensive solution for funds transfer operations (foreign or domestic), organizations are able to automate investigations and exceptions processing to provide faster, more cost effective customer service. Pegasystems software helps organizations automate investigations and exception processing. It can help banks provide improved customer service, while supporting the special handling requirements of key customers, including helping to reduce servicing timeframes, financial risk and unit cost.

With PegaCHECK Smart Adjust, a rules-based, image-enabled product, organizations can intelligently automate check exceptions processing. With a comprehensive set of pre-packaged business processes that handle nearly all error types, PegaCHECK Smart Adjust can help banks streamline implementation, increase productivity and respond to changing business conditions.

In addition to helping to increase operational efficiencies and helping to reduce costs, Pegasystems' solutions integrate with an institution's front- and back-office applications. Additionally, the software can be modified so that both the solution and the organization remain current with the increasing rate of change in the global payments industry.