Pegasystems' Software Resolves $1 Trillion in Payment Investigations Daily; Software Supports 60% of Global Market
CAMBRIDGE, Mass., Aug 16, 2005 — As the longest established vendor supporting the wholesale banking Exceptions and Investigations market, Pegasystems Inc. (Nasdaq: PEGA) today announced its Business Process Management (BPM) software now supports 60% of the world's global payment investigations volume, with a total value exceeding $1 trillion daily.
Since its first production system in 1985, Pegasystems has provided customers with solutions that improve productivity and control service costs by leveraging rules-based BPM technology. Today, Pegasystems supports more than 50,000 payment investigations per day or over 13,000,000 a year. Whether foreign or domestic payment inquiries, treasury investigations or inter-bank compensation claims, Pegasystems helps increase service quality, lower operating costs, and improve customer satisfaction by closing the execution gap that occurs when evolving business objectives outpace the ability of systems to respond. In addition, Pegasystems helps customers significantly reduce risk by proactively and efficiently managing the investigations and exceptions processes.
With production installations in leading banks worldwide, including the top four US and UK banks as well as the top three French banks and top two Swiss, German, and Dutch banks, Pegasystems provides financial institutions the ability to automate the full range of payments, securities, and treasury investigations and exceptions-management activities. Importantly, many of these banks are starting to use Pegasystems' SmartBPM™ platform more widely to realize growth, productivity, and compliance objectives throughout the enterprise.
"We recently achieved a world record in scalability testing, and our company is recognized throughout the banking industry for leadership in the sophisticated exceptions market," said Jay Sherry, Vice President of BPM Markets, Pegasystems. "Our technology meets the demanding performance and technical requirements of the world's leading banks, as well as the growing needs of our financial services customers and those in other industries."
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.
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.
Lisa Pintchman Rogers
VP, Corporate Communications
Director, Corporate Communications
Sr. Manager, Public Relations
Director, Corporate Communications
+44 (0) 118 9651 660
PR & Communications Manager
+44 (0) 118 9398 584
One Rogers St.
Cambridge, MA 02142
Phone +1 617-374-9600
Fax +1 617-374-9620