Pegasystems to Support Payments Processing for Fin-Force
COPENHAGEN & CAMBRIDGE, Mass., Sept. 6, 2005 — Pegasystems Inc., the leading provider of smart business process management (BPM) software, today announced that Fin-Force, the joint venture between KBC Bank, DZ BANK, and EDS, has selected Pegasystems Smart Investigate for Payments for use within its international payments and operations area.
Fin-Force supplies outsourcing capabilities to financial institutions worldwide. As its customer base has grown, many of which are now utilizing Web self-service to inquire about the status of transactions, Fin-Force has now upgraded to Pegasystems Smart Investigate for Payments on the PegaRULES Process Commander® BPM platform.
Smart Investigate for Payments can resolve any type of transaction exception by querying and retrieving details from any transaction database. It handles the receipt and processing of incoming messages, sends outbound correspondence in SWIFT and other formats, searches for related transactions, and automates decisions and processes around compensation claims and adjustments — without the need for manual intervention. By delivering the power of intelligent automation, the solution framework dramatically improves exceptions-related customer service, while increasing operational efficiency and reducing financial risk and exposure.
Eddy Bex, CIO of Fin-Force, said: "As our customer base grows, it was essential that we could continue to deliver the very best payment processing to our customers. Pegasystems has proven to be able to deliver highly effective payment processing solutions and its BPM technology will enable us to continue to grow our business across the banking sector."
David Wells, vice president and managing director of Pegasystems Europe, said: "We are delighted with Fin-Force's continued commitment to Pegasystems' platform. This is further recognition of the company's BPM technology and expertise in the banking sector."
About Fin-Force (www.fin-force.com)
Fin-Force was founded in 2000 by KBC, the leading Belgian banking and insurance group, and EDS Belgium, subsidiary of a leading global technology solutions provider. Since March 10, 2005 also DZ BANK became a shareholder of Fin-Force. Fin-Force currently offers end-to-end payments processing for the KBC Group and other banks. Initially serving KBC Bank, Fin-Force has gradually increased its service offering and expanded its customer base to include other KBC Group companies (CBC Banque, KBC Nederland and KBC London), handling end-to-end domestic and international payments processing, including such auxiliary services as claims and investigations handling and the reconciliation of interbank accounts. Around the turn of the year, Fin-Force will also start processing international payment transactions for the German service provider Transaktioninstitut fur Zahlungsverkehrs-dienstleistungen AG (TAI), which is mainly owned by DZ BANK.
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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