MUMBAI: Kanbay Inc., a subsidiary of Kanbay International, Inc., a global IT services firm, and Pegasystems Inc., has announced an alliance to develop and deliver business process management (BPM) expertise to financial services organizations.

The alliance brings Kanbay's deep financial services domain expertise and global IT services delivery capability together with Pegasystems' best practice BPM solution frameworks.

Working together, Kanbay and Pegasystems are leveraging their collective experience to create repeatable, high-value BPM frameworks for financial services organizations.

The initial focus of the alliance will be on developing BPM solutions in the areas of risk management, compliance, account acquisitions and dispute management systems.

As part of the collaboration to develop these types of high value BPM frameworks and best practices, Kanbay has trained associates in its BPM practice area on Pegasystems' solutions.

To date, more than 25 Kanbay associates have been trained and are currently engaged alongside Pegasystems on several BPM projects for a large global banking organization.

Tom Congoran, vice president, Business Development, Pegasystems commented, "Financial institutions continue to face myriad challenges, from increased competition to changing regulations to increased operational complexity.

They need to provide a single face to their customers, while continuing to enhance productivity and meet organizational goals.

Kanbay's focus on banking, insurance, and securities and investment markets means we have the best available resources for our shared customers."

"Working with Pegasystems' business process management suite lets us offer our customers some of the most widely used, proven, and highly rated problem-solving technologies for rules management," said Francis Albin, Kanbay's senior vice president of alliances.

"We're building a very large BPM knowledge base amongst Kanbay associates, which we can leverage for additional client engagements."