Pegasystems Announces PegaCRM Investigations

CAMBRIDGE, Mass., Oct. 9, 2001 — Pegasystems Inc. (NASDAQ: PEGA) today announced PegaCRM Investigations, a Customer Relationship Management (CRM) software solution designed to manage commercial bank payment investigations and securities exceptions processing across enterprise systems. PegaCRM Investigations is an expanded software offering utilizing Pegasystems' unique rules-driven process automation to service the financial services industry.


PegaCRM Investigations allows commercial banking organizations to integrate payments investigations activities, including foreign and domestic electronic payment inquiries, treasury investigations, interbank compensation claims and nostro account reconciliations. It also supports securities processing including settlement, shares, income and cash exceptions. PegaCRM Investigations enables organizations to automate inquiry management activities including receipt, delivery and processing of incoming messages, as well as sending outbound correspondence in SWIFT and other industry formats. PegaCRM Investigations provides a framework of flexible business rules that allows business users to implement strategic and operational directives in response to changing market and business needs. The solution's rules base, coupled with a robust processing engine, automatically drives the fulfillment of customer service requests across a wide range of communication channels.


PegaCRM Investigations benefits include:



  • Facilitates higher percentage of straight-through processing with advanced exceptions processing capabilities;

  • Helps improve workforce productivity and helps reduce costs by automating research and retrieval capabilities;
  • Increases service performance due to more effective and efficient management of daily workload volumes and inventories;
  • Automates business processes such that training of Customer Service Representatives (CSRs) is simplified;

  • Enables customers to submit inquiries and review status of investigations through Web self-service, improving customer satisfaction and retention;

  • Helps reduce costly errors because manual tasks are replaced by rules-driven automation;

  • Provides the business and technological agility needed to adhere to upcoming T+1 industry guidelines.

"Rules driven business process automation provides the integration and collaboration between customer delivery channels that is critical for accurate inquiry resolution," said Kathleen Khirallah, senior research analyst, TowerGroup.


"PegaCRM Investigations is a powerful solution for the financial services industry as it enables organizations to achieve greater levels of workforce efficiencies utilizing best practices to improve the way in which an organization provides services to its customers. As well, we are excited with our ability to expand our offerings to support securities investigations. We see this functionality to be critical as banks expand their product offerings in this market," said David Paul, Director of Product Development, Pegasystems.


Forward-Looking Statements


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 June 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.

About Pegasystems

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.

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.

 

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Jon Brigden
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Pegasystems Inc.
One Rogers St.
Cambridge, MA 02142
U.S.A.
Phone +1 617-374-9600
Fax +1 617-374-9620