Massachusetts-based Pegasystems has launched PegaCheck Smart Adjust, a rules-based, image-enabled package that automates cheque exceptions processing operations.
Pegasystems says the product provides retail banks with a core foundation for exceptions processing, allowing them to increase productivity and respond to changing business conditions.
Built on the vendor's rules engine, Smart Adjust delivers automated research and adjustment processing and contains pre-packaged business processes that handle nearly all error types, reducing write-offs and debit suspense costs.
The Java-based package supports all steps during inquiry, research and resolution and can be integrated with transaction databases.
Henry Ancona, president and COO, Pegasystems, says Smart Adjust can be modified to keep up with changing industry standards without requiring the support of IT.
"Not only can it help reduce costs by increasing productivity and maximising straight-through processing capabilities, it also provides a rules-based platform that will help banks with the agility to change as their business changes," he says.