Pegasystems and Misys International Banking Systems (Misys) have entered an agreement to combine their back office and payments technologies to offer corporates straight-through processing (STP) of financial transactions.
The companies will integrate Misys' wholesale back office system Midas with Pegasystems' front-end PegaCRM Investigations software solution for exception processing and STP in treasury operations.
PegaCRM Investigations is a new front-office process automation software that integrates payments investigations activities including foreign exchange, treasury, interbank compensation claims, nostro account reconciliations; and securities processing of settlement, shares, income and cash exceptions.
The investigations capability will be bolted-on as a front-office gateway to the Midas transaction processing engine.
David Wells, vice president of North American and European services, Pegasystems, comments: "This partnership gives Pegasystems exposure to more than 700 users of Midas, especially in the European and Asian regions."