Pega's world-class intelligent automation and
generative AI helps financial institutions more efficiently
orchestrate rising number of cases
CAMBRIDGE, Mass., Oct. 11,
2023 /PRNewswire/ -- Pegasystems Inc. (NASDAQ:
PEGA), the low-code platform provider empowering the world's
leading enterprises to Build for Change®, today announced the Pega
Financial Crime and Alerts Investigation Management Accelerator, a
new solution that helps financial institutions manage the rising
number of risk alerts and more efficiently orchestrate
investigations. By leveraging Pega's proven intelligent automation
and case management capabilities along with its groundbreaking
generative AI-powered capabilities, financial institutions can
break through operational silos and speed investigations for what
is traditionally a time-intensive and manual process.
Financial crimes – such as fraud, money laundering,
structuring, and sanctions violations –are rapidly rising, putting
increasing strain on financial institutions' risk teams to
investigate each potential incident. While detection and monitoring
systems have matured, financial institutions still struggle to
manage the increasing volume of these alerts and investigations,
which have been further exacerbated by global economic sanctions.
Compounding this problem, risk teams from different departments
often work in silos and use different monitoring and case
management tools, making it difficult to get a consolidated picture
of all risks related to each customer. This can lead to inefficient
and duplicative processes, unnecessary manual work, and
inconsistent outcomes.
The Pega Financial Crime and Alerts Investigation Management
Accelerator provides financial institutions with a unified solution
to manage alerts and drive investigations for all types of risk
detection systems across all departments, jurisdictions, and lines
of business. The accelerator provides a holistic, transparent, and
actionable view of each customer's risk profile in a single
application, helping drive more collaboration for even the largest
and most complex financial institutions. And with Pega's leading
intelligent automation and AI, financial institutions can
streamline their investigations, resulting in faster resolutions,
lower costs, and better outcomes for their customers.
Available today for download on Pega Marketplace, Pega Financial
Crime and Alerts Investigation Management Accelerator provides any
financial institution the following key features and benefits:
- Smarter process orchestration with case management and
intelligent automation: Pega enables all types of alerts
across different monitoring systems to be captured and triaged in a
consistent manner so investigators can spend their time examining
the case rather than gathering and managing information. The
accelerator digests and enriches alerts, deduplicates redundant
alerts, and merges new alerts into existing investigation cases
when applicable. Cases are assigned with skill-based routing to the
most appropriate risk investigator, who is guided through the right
stages and steps to efficiently and accurately handle each
case.
- Reduced time and costs with automation and AI: By using
automation and AI to reduce manual labor, Pega helps drive
investigations faster and more accurately. For example, the
accelerator eliminates the time-consuming and cumbersome process of
developing a Suspicious Activity Reports (SAR) by using generative
AI to analyze all data associated with a case and then
automatically draft the SAR. Automation is applied throughout the
process, helping staff drive more efficient and effective
investigations.
- Increased flexibility with configurable system options:
The accelerator is highly configurable, allowing financial
institutions to leverage pre-built process templates out of the box
and easily adjust and extend them to fit their unique needs. The
accelerator can be integrated with existing alert monitoring and
detection systems as well as Pega's Know Your Customer and Client
Lifecycle Management solutions and other third-party systems and
services.
Pega's low-code platform for AI-powered decisioning and workflow
automation is trusted by the majority of the world's largest
financial institutions. For more than 30 years, Pega has provided
global financial institutions with case management, workflow
automation, and customer risk solutions across KYC, AML, alert
management, fraud, account opening, and client
lifecycle management. Pega supports all types of financial
institutions with pre-defined industry best practices across
jurisdictions and lines of business.
For more information about Pega Financial Crime and Alerts
Investigation Management Accelerator, please visit
www.pega.com/industries/financial-services/financial-crimes
Quotes & Commentary
"With financial crime alerts growing exponentially in complexity
and in volume due to global events, financial institutions need a
better way to consolidate and streamline their investigation
processes to manage risk and cost," said Jason Grasso, financial services solutions
global leader, Pega. "The launch of Pega Financial Crime and Alerts
Investigation Management helps financial institutions better
orchestrate, automate, and triage investigations end to end,
providing their teams with a 360-degree customer view and driving
better investigative outcomes."
Supporting Resources
- Product background: Pega Financial Crime and Alert
Investigation Management
- Data sheet: Pega Financial Crime and Alert Investigation
Management
- Solutions background: Pega for Financial Services
- eBook: Holistic Fraud and FinCrime Management: Now
Is The Time
About Pegasystems
Pega provides a powerful low-code platform that empowers the
world's leading enterprises to Build for Change. Clients use our
AI-powered decisioning and workflow automation to solve their most
pressing business challenges – from personalizing engagement to
automating service to streamlining operations. Since 1983, we've
built our scalable and flexible architecture to help enterprises
meet today's customer demands while continuously transforming for
tomorrow. For more information on Pegasystems (NASDAQ: PEGA), visit
www.pega.com.
Press Contact:
Sean Audet
Pegasystems
617.528.5230
sean.audet@pega.com
Twitter: @pega
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SOURCE Pegasystems Inc.