Pegasystems’ Enhanced Solution Framework for Financial Institutions Helps Reduce Operational Costs

CAMBRIDGE, Mass. – Sept. 17, 2008 – Pegasystems Inc. (Nasdaq: PEGA), the leader in Business Process Management (BPM), today announced enhancements to its Financial Services Industry Foundation Framework (FSIF) that will help institutions develop servicing backbones.  These servicing backbones rapidly reduce operational costs, drive revenue growth and improve the customer experience and support core processes across business silos.  

The Pegasystems FSIF provides working process models for core banking functions, such as account opening and on-boarding, fulfillment of customer service requests, automation of payment exceptions, and investigation of fraud and suspicious activities. Customers can immediately deploy and execute, or easily customize without the need for coding. FSIF also offers the following additional enhancements:

  • Updated design models that maximize re-use and sharing of application components across an organization’s lines of business and channels
  • Enhanced data models providing a richer set of industry standards, including IBM’s Information Framework (IFW) data model
  • New enterprise case management capabilities to improve an organization’s ability  to “right source” work across distributed operations centers and third parties
  • Automated localization for global use

“Because BPMS represents a paradigm shift from traditional, coded approaches to automating business processes, buyers expect BPMS providers to offer not only the design and runtime environment but also the business process content to accelerate their learning and implementation,” said Janelle Hill, research vice president at Gartner.  “Pre-built composite process frameworks, models, rule-sets and services across industry verticals and horizontal business functions are a key component of any business process management solution."

“Utilizing the Financial Services Industry Framework, organizations are able to deploy high value business solutions significantly faster, with higher quality and increased rates of re-use across the enterprise,” said Willy Fox, senior director, Financial Services Solutions, Pegasystems.  ”The resulting servicing backbones are able to standardize common processes that span individual silos and deliver more effective operations and higher levels of customer satisfaction.”

Pegasystems’ Financial Services Industry Foundation Framework is currently available, and is part of a series of industry frameworks delivered by Pegasystems that speed time to market for servicing backbones. 

For more information on FSIF, please visit:

 https://www.pega.com/Products/Retail_Banking_Industry_Framework.asp.

For more information on Pegasystems’ servicing backbones, please visit:

https://www.pega.com/content/media/2min/sb/Pega_BldgChg_preso_js.html

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.

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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.

 

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