Pegasystems Supports Fin-Force in Delivering Expert Outsourcing Capability to Global Banks for Payments Processing
CAMBRIDGE, Mass., Oct. 29, 2001 — Pegasystems (NASDAQ: PEGA) today announced that it is working with a new joint venture company known as Fin-Force to improve customer service across its payments outsourcing business. Fin-Force is using Pegasystems' rules-driven process automation technology for payment and investigation processing. PegaCRM Investigations can help Fin-Force establish an efficient payment processing environment in which customer service is enhanced and profitability is improved.
Fin-Force is a Belgium-based banking services provider recently set up by KBC Banking & Insurance (KBC) and EDS to supply outsourcing capability for payments processing to financial institutions worldwide. The first banking customer to outsource it payments business to Fin-Force was KBC itself, a leading Belgian bank. KBC is successfully outsourcing its payments and investigations functions to Fin-Force.
In order to offer a high level of service, Fin-Force required an integrated customer service and investigation solution that could be implemented quickly and efficiently. It also wanted the assurance of working with a company who understands the banking marketplace and therefore chose Pegasystems because of its technology, expertise and more than 18 years experience in CRM, financial services, and process automation.
PegaCRM Investigations offers capabilities to integrate web, call center and other channels to facilitate consistent, seamless customer service across multiple channels while allowing real-time personalization of each customer's service experience. Web self-service is a key part of the service offering that Fin-Force provides to its bank-customers, allowing them to directly inquire about the status of their transactions online, in real time.
PegaCRM Investigations allows Fin-Force to interface with multiple customers' banking systems on one implementation, helping to provide further consistencies and cost savings. It also offers a unique functionality that automatically times the length of a payment transaction or investigation, helping the company to accurately bill the customer for each transaction. This functionality will be implemented in a second phase.
"Pegasystems' experience in the financial services industry has proven to be appropriate in implementing a system that is tailored to our specific needs," said Mark Weytjens, general manager, Business and Product Development, Fin-Force. "The functionality of their technology enables us to be a lot more accurate and consistent when servicing our customers and the reporting capability will allow us to better manage and control the processes on behalf of multiple customers. Because the software is driven by rules, we can easily change a rule to further improve customer service."
David Wells, vice president and managing director, North American and European Service, Pegasystems, commented, "As more banks begin to outsource, Pegasystems is eager to work with organizations such as Fin-Force, who provide an expert capability to service the needs of global banks. As our leadership in the European banking industry continues to grow, it is very important that we work with other suppliers to meet the increasing demands of businesses in this space. We are delighted to have forged strong relationships with EDS and KBC."
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "hope," "anticipate," "plan" and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The company does not undertake and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These statements are based on current expectations and assumptions and involve various risks and uncertainties, which could cause the Company's actual results to differ from those expressed in such forward-looking statements. These risks and uncertainties include impact of pending regulatory proceedings, difficulty in predicting the completion of product implementations and consequently the timing of revenue recognition, the inability to attract and retain key employees, reliance on key third-party relationships, management of the Company's growth, and other risks and uncertainties. Further information regarding these and other factors which could cause the Company's actual results to differ materially from any forward-looking statements contained in this press release is contained in the Company's Quarterly Report on Form 10Q for the quarter ended September 30, 2001 on file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on such forward-looking statements and no assurances that the matters contained in such statements will be achieved.
Pegasystems revolutionizes how leading organizations optimize customer experience and automate operations. Our patented Build for Change® technology empowers business people to create and evolve their critical business systems. Pegasystems is the recognized leader in business process management and is also ranked as a leader in customer relationship management software by leading industry analysts. For more information, please visit us at www.pega.com.
All trademarks are the property of their respective owners.
The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.