Pegasystems releases proactive exception monitoring application
12 October 2004 | 1294 views | 0
Pegasystems Inc. (NASDAQ: PEGA) today announced the release of PegaBANKING™ Smart Investigate™ 4.1 on the new PegaRULES Process Commander platform. Smart Investigate now automates investigation and exception processing for wholesale banks with even greater intelligence and flexibility, enabling banks to cut costs by processing more transactions automatically and reducing manual costs and errors.
The application serves departments throughout the wholesale bank, including payments, treasury, securities, nostro reconciliation and other areas, allowing banks to utilise one solution across business lines.
Smart Investigate, the fourth generation of Pegasystems’ PegaINTEGRATED Investigations application, offers huge gains in operational efficiency and productivity, reducing the cost of processing an investigation by an average of 60 per cent. Utilising business-user-friendly rules, the application also reduces the risk resulting from inconsistent adherence to company policies.
Line-of-business managers can easily control and change automated processes in Smart Investigate that enforce the organisation’s policies, while driving differentiated service to build stronger ties with the bank’s most valued customers. Smart Investigate’s PRPC foundation gives it enterprise scalability, enabling Smart Investigate to act as a single exception processing solution across departments and products at large financial institutions.
With the release of Smart Investigate 4.1, Pegasystems now offers its entire suite of ‘smart’ exception processing applications on the PRPC V4 platform.
PRPC enables large companies to respond to changing customer, market and competitive conditions by modifying and creating automated decision rules and processes in days, not months. Pegasystems provides rules-based exception processing applications for retail banking, wholesale banking and card issuers and acquirers.
“We’ve constantly refined Smart Investigate over its long and successful history, but this might be our biggest advance yet,” says Pegasystems CEO Alan Trefler. “Smart Investigate’s increased intelligence and flexibility allow banks to control investigation automation at an enterprise level while maintaining all the specialisation required by individual departments. Smart Investigate further improves on the deep expertise in financial services exception management that has made Pegasystems an industry leader.”
Pegasystems also announced today the release of PegaBANKING Smart Monitor™, a new application for improving operational insight and control across the banking enterprise. Smart Monitor utilises the business intelligence capabilities of Pega Quality & Exception Manager™ to provide a banking application tailored to the needs of operations managers. Smart Monitor delivers proactive monitoring and reporting of exceptions – such as transaction errors and risk and compliance issues – across lines of business. Enabling process improvement for increased efficiency and reduced risk, the application bridges operational silos and provides a real-time view of exceptions across both contemporary and legacy departmental exception handling systems.