The State of FATCA Compliance

How global financial institutions can fulfill their legal obligations to become FATCA compliant, and navigate operational issues and technology requirements.

Creating a New Sanctions Screening Platform with Pega

Hear How JPMC Addresses Enterprise-wide Compliance Initiative

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Gain the Control You Need to Improve Compliance, Reduce Risk and Ensure Flexibility

Pega captures and codifies best practices as intelligent processes that can be applied consistently across the organization. Because these processes are rule-based, they adapt dynamically to meet conditions for risk type, geography, line of business and regulatory requirement. Whether you need to implement Know Your Customer (KYC) globally, reduce risk across lines of business, manage complex AML, sanctions and fraud cases or meet government reporting requirements, Pega delivers a high-efficiency solution for risk, fraud and compliance management.

Achieve compliance while improving the client experience and time-to-revenue

Pega delivers a unified, global platform for managing complex KYC requirements, including AML, FINRA, MiFID, FATCA, IIROC, EMIR, Suitability, product and country-specific due diligence requirements, while improving onboarding time and time-to-revenue. Pega’s common platform combines with dynamic, rules-based processes that ensure specialization by country, line of business and product. Holistic case management automatically applies KYC, EDD and Suitability requirements, while end-to-end work automation eliminates manual processing and repetitive document requests to achieve 100 percent compliance and faster onboarding. A master view of the customer, dynamic risk rating engine and full audit history ensure consistent compliance, provide reuse and cut risk across products, lines of business and geographies. As regulations and business operations change, Pega makes it easy to manage changes directly in the system in days vs. months.

 


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Efficiently manage FATCA compliance throughout the client lifecycle

Pega’s FATCA Rule Guidance Solution provides a unified, global platform that can be easily changed to meet evolving FATCA requirements (FATCA, IGA Model One and Model Two, OECD and other FATCA-like rules). It can also be extended to manage full client onboarding for KYC, AML, Suitability, product and country-specific due diligence requirements. Manage new account onboarding and pre-existing account due diligence in one unified system for efficient, cost-effective and intent-led classification and reporting based on pre-defined rules and legal interpretation of rules. A global view of each customer ensures consistency and reuse of due diligence, documentation, customer classification, indicia changes and reporting. Classification decisioning is faster with dynamic case management, applying the right qualification rules based on the customer profile including U.S. indicia, substantial owner rules, aggregation rules, etc. Automated pre-existing account management streamlines preceding due diligence for U.S. and underlying party identification, exemptions, aggregation and qualification, due diligence, classification and reporting. Pre-defined FATCA rules, including forms, due diligence criteria and intent-led rules ensure rapid time-to-delivery, while mitigating regulatory risk.

 


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Gain unprecedented levels of visibility and control

From intake to resolution, Pega delivers a unified, proactive solution for managing external inquiries from regulatory bodies, including exam requests and regulatory actions, internal control issues, risk assessments and remediation processes. Gain executive-level visibility with real-time dashboards and audit trails across all regulatory actions, control issues, lines of business and geographies on a global scale. Use Pega’s dynamic case management to conduct cost-effective remediation, including “look back” automation, and proactively handle compliance violations with transparency across multiple lines of business and geographies. Efficiently control risk exposure with rules-driven processes automating controls, escalation and orchestration with external systems for end-to-end monitoring of multiple parties (legal, line of business, external counsel, consultants and operations), parallel processing and visibility into each regulatory inquiry, exam, risk issue, findings and related cases.

 


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Gain unprecedented levels of visibility and control

Achieve tighter internal control, while reducing the time and costs for combatting fraud, and complying with anti-money laundering (AML) and sanctions regulations. Simplify alert and investigation management with rules-driven processes that automatically account for line of business and country-specific requirements. Use holistic case management to collect data from multiple systems and relevant investigations, and automatically link multiple alerts to investigations for clustered processing. Pega’s intelligent processes resolve alerts that were previously deemed false positives, and auto-groups related alerts to identify and resolve duplicates. You can also prioritize alerts by type of sanctions risk and regulatory requirement using automatic risk rating.

Reach new levels of Efficiency and Compliance

For complex cross-jurisdictional and multi-currency payment environments, Pega offers the ideal solution to reduce alert management time and costs, while achieving full compliance. As part of the Pega Financial Crimes Management solution, Pega Sanctions Management simplifies and streamlines global alert management, identifying payments, customers and transactions that may be potential U.S., U.K., EU or U.N. sanctions violations. Leverage dynamic, rules-driven processes, end-to-end case management, automatic risk rating and a complete audit trail to automatically resolve alerts that were previously deemed false positives, normalize risk ratings from disparate monitoring systems, engage in efficient clustered processing, and increase compliance with a comprehensive view of each alert or investigation.

Customer Stories

Using Pega solutions, leading financial organizations have achieved rapid and measurable value.