Home » Press Releases Pegasystems Announces Enhance ...

Press Releases by JavaScriptSearch

Pegasystems Announces Enhanced Banking Frameworks for Financial Services

January 17, 2007; 06:14 AM
Pegasystems Inc., the leader in unified process and rules technology, today announced several significant enhancements to its Retail and Wholesale Banking Industry Frameworks. Financial Institutions looking to grow revenue, drive process efficiencies and manage risk can now do so faster and with more agility thanks to additional packaged components in the areas of New Account Opening, Loan Origination, Loan Underwriting, Risk Management, and Compliance Management.

The banking Frameworks, which are available immediately, provide financial institutions with robust business accelerators enabling the rapid delivery of business solutions on the industry’s leading business process management (BPM) suite. A critical complement to Pegasystems’ SmartBPM Suite™, the Frameworks enable greater visibility into business processes and policies and ensure better control of activity and streamlined processes for more agile operations. The enhanced Frameworks exploit the newest capabilities of Pegasystems’ SmartBPM Suite including AJAX “Hover and See” rich Internet application functionality that provides immediate feedback to end users and increased interactivity, speed and usability of a Web application.

“Intelligent business process management solutions are helping financial services institutions create an unfair advantage over their competition by delivering a differentiated customer experience across channels and product lines. Utilizing the packaged business components of these banking Frameworks and the advanced capabilities of Pegasystems’ SmartBPM Suite, our customers can more rapidly deliver business solutions and maintain a higher level of agility for continuous process improvement,” said Willy Fox, director of product management, Financial Services, Pegasystems. “This release of these Frameworks demonstrates Pegasystems' thought leadership in the financial services industry and provides our customers with the most robust collection of assets available on a BPM platform.”

Pegasystems’ Solution Frameworks provide industry best-practice process templates, data structures, design models and user portals for rapidly creating tailored SmartBPM solutions that deliver productivity, spur growth and ensure compliance. The banking Frameworks empower financial services organizations to readily deal with business change while enabling re-use across lines of business, channels and products. With this increased level of agility, financial services organizations can improve their customer service, detect and manage risk, and dramatically reduce operational and IT expenses. On top of a rich functional base, these versions of the Frameworks contain the following enhancements:

  • Extensible components for use in Universal Account Opening that range from customer acquisition and application capture to validation and decisioning, on-boarding, funding and account set-up, across retail, wholesale and capital markets business units;
  • Enterprise-wide lending originations and underwriting components supporting multi-product processing including (among others) credit cards, mortgage, home equity lines, auto finance, small business and commercial products;
  • Flexible and auditable components for use in regulatory and compliance efforts including suspicious activity report generation in support of anti-money laundering investigation, fraud management and regulation E tracking and processing.

“Pre-built frameworks, models, flows rules and services across industry verticals and horizontal business functions are a key component of any business process management solution,” said Jim Sinur, vice president and distinguished analyst, Gartner. “By coupling their own intellectual property with the assets provided in a comprehensive BPM suite, businesses can accelerate the benefits of efficiency, control and agility throughout their organizations.”

About Pegasystems

Pegasystems Inc. (Nasdaq: PEGA) provides software to automate complex, changing business processes. Pegasystems, the leader in unified process and rules technology, gives business people and IT departments the ability to use best processes across the enterprise and outperform their competition.

Our new class of business process management (BPM) technology makes enterprise systems easy to use and easy to change. By automating policy manuals, system specifications and lines of manual coding with dynamically responsive updates, Pegasystems powers the world's most sophisticated organizations to Build for Change™.

Pegasystems’ award-winning, standards-based BPM suite is complemented with best-practice solution frameworks to help leaders in the financial services, insurance, healthcare, manufacturing, life sciences and government markets drive growth and productivity.

Headquartered in Cambridge, Mass., Pegasystems has regional offices in North America, Europe and the Pacific Rim. For more information, visit www.pega.com.



Related Resources

Other Resources