IBM and Pegasystems Inc. have formed a global strategic alliance to deliver payments exceptions and compliance management solutions to the world's top-tier banks and card issuers and acquirers in order to solve some of the most demanding challenges facing global financial institutions.

Through solution development that will pair IBM's infrastructure with Pegasystems' "smart" BPM applications for exceptions and dispute management, wholesale and retail banking customers can benefit from dramatically reduced costs; decreased payment risks and loss; and rapid issue resolution for greatly improved service and increased customer loyalty. 

Under the terms of the agreement, the two companies will market Pegasystems' entire Quality & Exception Manager suite of financial services applications, optimized for IBM eServer systems and IBM TotalStorage Solutions, DB2 Universal Database software and the WebSphere Internet infrastructure platform, including WebSphere Application Server and WebSphere MQ. 

The marks a further step in the growing relationship between the two companies. In March of this year Pegasystems joined IBM's Business Performance Management program and its ISV Advantage Initiative, and reached an accord with IBM Business Consulting Services (BCS) for global services delivery. 

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