Pegasystems launches industry’s first Robotic Automation capabilities to reduce time and costs of managing Onboarding and KYC
Pega Robotic Automation now fully unified with Pega CLM and Pega KYC applications
CAMBRIDGE, Mass. – February 15, 2017 – Pegasystems Inc. (NASDAQ: PEGA), the software company empowering customer engagement at the world’s leading enterprises, today announced that Pega® Client Lifecycle Management (CLM) and Pega® Know Your Customer (KYC) now enable banks to leverage the power of robotic automation to speed client onboarding processes, reduce operational costs, and accelerate time to market. By unifying Pega® Robotic Automation within Pega CLM and Pega KYC, global financial institutions can automate repetitive manual tasks in onboarding and KYC remediation processes to ultimately improve the customer experience.
Global bank executives are re-evaluating their CLM, onboarding, and KYC processes, which are universally recognized as some of the most time consuming and costly steps banks have to manage. Pega CLM and Pega KYC streamline and coordinate these end-to-end processes – from client adoption, new product and jurisdiction onboarding, and KYC, to legal, fulfillment, and offboarding – on a single solution. Now Pega CLM and Pega KYC deliver even more efficiency gains with Pega Robotic Automation by offloading many of the high-volume, low-complexity onboarding and KYC tasks that impact banks.
For the first time, banks can complete these tasks faster and more accurately to ensure rapid delivery and reduce time to transact with unified robotic automation capabilities. Additional benefits include the ability to:
- Reduce time to market and eliminate manual data entry errors in large-scale KYC remediation projects by collecting and normalizing data from any external third-party data provider (screening engines, data providers, utilities) and internal system.
- Streamline user tasks from front to back office by eliminating manual data entry and data gathering across sales, compliance, and operations in multiple systems.
- Cut costs by an additional 20 to 50 percent by combining robotic automation with Pega CLM’s optimized target operating model, which allows global banks to provide the most efficient and transparent multi-jurisdictional, multi-product onboarding to complex entities.
Pega Robotic Automation enables businesses to intelligently optimize how work gets done – by both humans and robots – across the enterprise from a centralized and globally scalable end-to-end solution. Pega Robotic Automation is now natively unified within Pega CLM and Pega KYC to seamlessly infuse robotic automation within any bank’s global onboarding and KYC transformation. This enables organizations to run tasks unattended while mitigating risk and meeting regulatory mandates. Ultimately, these benefits make employees more productive while freeing them to focus on delivering better customer experiences.
Pega CLM and Pega KYC are the only globally scalable applications for large complex financial institutions to manage end-to-end CLM and KYC from institutional onboarding through to retail banking with pre-defined industry best practices and target operating model. These industry-leading applications can be deployed at the world’s largest institutions in as little as three months, while speeding time to revenue with new and existing clients. Pega provides deep in-house industry KYC and customer due diligence (CDD) regulatory and onboarding expertise coupled with best-in-class partnerships and regulatory rules engine. Pega’s global team of experts have deployed onboarding and KYC solutions for more than 10 years at more than 25 of the world’s largest financial institutions.
Quotes & Commentary:
“With a complex web of regulations to manage, financial institutions can benefit significantly from robotic automation. This helps banks to not only meet aggressive remediation deadlines of millions of accounts but also streamline time to transact for what has traditionally been a manual and siloed process,” said Reetu Khosla, senior director of risk, compliance, and onboarding for Financial Services, Pegasystems. “Pega now makes it possible for banks to drive rapid return through robotic automation embedded into our industry leading CLM and KYC applications for the first time.”
Product video: Short Pega Robotic Automation tutorial
PegaWorld roundtable: Why clients chose Pega CLM and Pega KYC
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