Pegasystems licenses IBM's insurance and banking industry models

Source: Pegasystems

Pegasystems Inc. (Nasdaq: PEGA), the leader in unified process and rules technology, today announced the licensing of IBM Industry Model for Insurance - Insurance Application Architecture (IAA) and IBM Industry Model for Banking - Information FrameWork (IFW) models for use in Pegasystems insurance and financial services Solution Frameworks.

By aligning Pegasystems' industry leading SmartBPM Suite with IBM's extensive banking and insurance business content, Pegasystems can deliver more robust Solution Frameworks as well as enable existing IFW and IAA subscribers with best-in-class capabilities to build out and deploy their model-based solutions.

"We are delighted to welcome Pegasystems to the Industry Model and Asset family," said Tom Reilly, vice president, enterprise master data solutions, IBM. "Hundreds of organizations world wide are using our information, process and integration models to accelerate their business transformation, regulatory compliance, customer and financial management solutions. The combination of both IBM and Pegasystems' depth and breadth of financial services experience and assets will help customers drive even greater competitive advantage."

In development efforts among IBM and many global carriers and financial institutions, IBM's models are the industry's most comprehensive suites of models available for helping companies apply information technology in order to realize strategic business initiatives. Pegasystems, working closely with IBM's Industry Models and Assets team, is incorporating these models into its leading SmartBPM offerings for real-world execution success. IAA and IFW's proven Business Object, and Business Processes models, will better enable Pegasystems to deliver services-oriented business application solutions to its leading financial services customers.

Said Jay Sherry, vice president, Marketing and Solution Frameworks, Pegasystems, "By aligning to the IBM Industry Model's IFW and IAA approach and including this rich industry content in our BPM Suite of offerings, Pegasystems will enhance the solutions we offer our customers, helping them to realize their goals through the proven flexibility and scalability of SmartBPM."

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