Pegasystems' Launches PegaINTEGRATED INVESTIGATIONS 3.2 to Streamline Payment, Securities, and Treasury Investigations and Exceptions for Banks

CAMBRIDGE, Mass., Sep. 30, 2002 — Pegasystems Inc. (NASDAQ: PEGA), a leader in rules-driven business process management software, today announced the availability of PegaINTEGRATED INVESTIGATIONS 3.2, a suite of software designed to help financial institutions streamline the processing of payment, securities and treasury investigations and exceptions across the enterprise. By integrating payment, securities and treasury investigations processing in one platform, banks can reduce the duplication of tasks associated with resolving errors. Additional features in this release include improved fulfillment capabilities that enable automated processing of financial adjustments, as well as the management of inter-bank compensation payables and receivables. A standard database schema for archived transaction data is also now available for use by banks that do not have an existing data warehouse.

"As US payments transition from paper-based to electronic payments, banks must implement real time processing systems," said Robert Hunt, senior analyst, TowerGroup. "Further, it is critical that financial institutions automate workflow processes in order to manage, process, and resolve exception conditions and customer inquiries in a timely manner."

PegaINTEGRATED INVESTIGATIONS 3.2 automates routine processes associated with payments, securities and treasury inquiries, including the receipt, delivery and processing of incoming messages, as well as the sending of outbound correspondence using SWIFT, Fed Wire, and other industry formats. It provides the user with a single view of customer information that extends across legacy systems and databases — providing fast and efficient resolution of investigations and helping to reduce operating costs. Customers can also submit inquiries and review the status of investigations through Web self-service, which helps improve customer satisfaction and retention.

Pegasystems also announced today that Rabobank, headquartered in Utrecht, Netherlands, is deploying PegaINTEGRATED INVESTIGATIONS for Payments, part of the PegaINTEGRATED INVESTIGATIONS 3.2 software suite, across its national and international branch network. The new software allows Rabobank's correspondent banks and corporate customers to quickly and easily check the status of transactions via the Web.

"With PegaINTEGRATED INVESTIGATIONS for Payments, our international banking network can track and trace investigations independently, so they no longer have to contact our investigators for assistance. There has been an 80% drop in the number of phone calls alone, which has considerably raised our productivity levels and reduced costs at the national, international and branch levels," says Jaap Van Caspel, vice president of international payment services, Rabobank. "Additionally, correspondent banks working with us have access to the same Web self-service functionality as international branches, and we plan to roll this service out to our full network of 300 international correspondent banks in the near future."

"PegaINTEGRATED INVESTIGATIONS 3.2 is a powerful solution for the financial services industry because it helps enable organizations to utilize best practices to improve the way in which they provide services to customers," said Andy Elliott, director of product management, Commercial Banking, Pegasystems. "In a market where costs continue to come under scrutiny, and the ability to quantify and manage risk is extremely important, companies are looking for solutions that deliver rapid return on investment (ROI)."

Six of the top 10 global banks have implemented Pegasystems' investigations software.(1)

The latest version of PegaINTEGRATED INVESTIGATIONS adds financial adjustment and compensation functionality, as well as a standard database schema that can be used to store transaction data if an organization does not already have a data warehouse. The new financial adjustment fulfillment module permits payments made incorrectly to be automatically adjusted, eliminating the need for an operator to log on to the accounting system and manually process the adjustment. This can result in faster processing of transactions and fewer operational errors. The improved compensation functionality also enables domestic and foreign currency interest claims to be calculated, tracked and settled automatically, helping to both maximize the collection of interest and minimize operator intervention and risk.

PegaINTEGRATED INVESTIGATIONS 3.2 provides multi-entity support, enabling it to be used by an outsourcing company to support multiple financial organizations on a single Pegasystems solution via an ASP model.

Additionally, the consolidated management information that is a by-product of the common platform enables both customer and operational risk reporting across business and geographic lines. PegaINTEGRATED INVESTIGATIONS 3.2 facilitates a high percentage of Straight-Through Processing, which also helps banks to improve workforce productivity and reduce operating costs. The software also automates business processes, so that training of customer service representatives, for example, is simplified — helping to create further cost savings for financial institutions.

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, 2002 on file with the Securities and Exchange Commission. Investors are cautioned not to place undue reliance on such forward-looking statements and there are no assurances that the matters contained in such statements will be achieved.

NOTE: Pegasystems is a registered trademark of Pegasystems Inc. Other product and company names may be trademarks of their respective owners.

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

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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