Pegasystems Announces Enhanced Banking Frameworks for Financial Services
CAMBRIDGE, Mass., Jan. 16, 2007 — Pegasystems Inc. (Nasdaq: PEGA), 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."
Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega’s applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega’s Global 3000 customers include many of the world’s most sophisticated and successful enterprises. Pega’s applications, available in the cloud or on-premises, are built on its unified Pega 7 platform, which uses visual tools to easily extend and change applications to meet clients’ strategic business needs. Pega’s clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at www.pega.com.
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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.
Lisa Pintchman Rogers
VP, Corporate Communications
Director, Corporate Communications
Sr. Manager, Public Relations
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