Pegasystems’ SmartBPM Suite Selected by SunTrust for Multiple Initiatives
CAMBRIDGE, Mass. – December 4, 2007 – Pegasystems Inc. (NASDAQ: PEGA), the leader in Business Process Management (BPM), today announced that SunTrust Banks, Inc. has selected its SmartBPM® platform with Build for Change® technology and Banking Industry Framework for use in several mission critical applications. The company will apply Pegasystems’ industry leading BPM capabilities to help prevent money laundering, support fraud investigations, and manage compliance with the Bank Secrecy Act, USA Patriot Act and other regulations. SunTrust will also use the Pegasystems solution to enhance the new account opening experience for its customers, easily and effectively establishing new business and enhancing the foundation for outstanding customer relationship management.
“We needed a solution that would enable us to collaborate across multiple lines of business and disparate application areas of the bank while allowing independent teams to meet their specific goals and objectives,” said Kevin Poe, senior vice president, SunTrust Enterprise Business Process Services. “We chose Pegasystems to meet these needs for our diverse mission critical operations based on Pega’s world-class technology and unique ability to support re-use across multiple lines of business. Pega’s deep industry expertise, and pre-packaged financial industry assets were of considerable importance and have enabled us to achieve immediate results.”
“To deal with increasingly sophisticated fraud and to comply with OFAC regulations, the Bank Secrecy Act, the USA PATRIOT Act and other complex and changing regulations, banks are demanding solutions that can provide a high degree of control, transparency and – perhaps most importantly – give them the agility to respond to these challenges,” said Willy Fox, senior director of financial services solutions, Pegasystems. “At the same time, the competition for new banking and financial services customers is intense. These customers have high expectations regarding service and ease of doing business, beginning, of course, with the experience of opening an account. We are delighted to be working with SunTrust to help the company better meet these challenges and continue to drive its market leadership.”
For more on Pegasystems’ Fraud and Suspicious Activity Management and Account Opening, please visit www.pega.com.
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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