Pegasystems Payment Servicing Solution Accredited with SWIFT Label for the Eighth Year in a Row

Reading, Berks, 9 September 2008: Pegasystems today announced that it had been awarded the SWIFTReady Exceptions & Investigations 2008 label for its Smart Investigate™ 5.1 Framework.  The Smart Investigate solution with embedded SwiftNET E&I capabilities, enables the world’s leading Financial Service Providers to deliver improved customer experience and increased operational effectiveness across their payment service operations. The labelling programme ensures that when a financial institution chooses a third-party partner to work with, its financial applications are both compliant with a list of functional criteria and/or expertise as published by SWIFT and in a live production environment at a financial institution and have received positive references from live users.

SWIFT is the Society for Worldwide Interbank Financial Telecommunication, a member-owned cooperative through which the financial world conducts its business operations.  More than 8,300 banking organisations, securities institutions and corporate customers in more than 208 countries entrust SWIFT every day to exchange millions of standardised financial messages.

The SWIFTReady Label Programme provides customers with valuable information to take into account when selecting an application or integration service from a SWIFT Solution Partner. It gives peace of mind that the application or the integration service supports their SWIFT-related business needs.

“We attribute labels on a yearly basis, by leveraging our expertise in standards and business processes to assess the SWIFT compliance of the application or integration services,” says Patrik Neutjens, head of partner management at SWIFT.  “These labels are awarded to only a select few of elite providers who reach the rigorous standard that we set down.  The criteria for the labels are based on the SWIFT-related aspects of an application or integration service and customers working with Pegasystems can be assured of its compliance to our very high standards.”

SWIFT enables its customers to automate and standardise financial transactions, thereby lowering costs, reducing operational risk and eliminating inefficiencies from their operations. By using SWIFT customers can also create new business opportunities and revenue.

Willy Fox, senior director of Financial Services Solutions, Pegasystems, concludes, “Industry bodies such as SWIFT are critical components in the global payments arena and we are thrilled to, again accept the label as SWIFT certified. Pegasystems is the longest established and most experienced vendor to support the wholesale banking Exceptions and Investigations standard with more than $1 trillion managed daily.”  Fox concludes, “We enable organizations to differentiate their service offerings and compete more aggressively in this dynamic market.  There’s no other vendor that has the breadth of experience, pedigree, consistency and sheer focus on customer service that Pegasystems has, which is why we are able to consistently raise the bar and earn this prestigious label year after year.”

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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