WestLB Implements Pegasystems' Rules-Based Payments Solution to Support CRM Strategy
CAMBRIDGE, Mass.-- July 24, 2000-- Pegasystems Solution Provides Access to Information in Multiple Back-Office Legacy Systems Through Unified Interface
Pegasystems Inc. (NASDAQ: PEGA), a leading provider of rules-based, Internet-architected electronic Customer Relationship Management (eCRM) software and solutions, today announced that Westdeutsche Landesbank Girozentrale (WestLB) has implemented Pegasystems' solution to automate payments investigations processing and resolve payment discrepancies faster, adding point of contact problem resolution to its overall CRM capability. The solution is currently in production in WestLB's London office.
Pegasystems' payments solutions incorporate 17 years of payments investigations experience, allowing banks to reduce costs and bid competitively for money transfer services. Furthermore, the solution enables WestLB to differentiate its control procedures through superior service delivery, an important factor in its CRM strategy for attracting and retaining corporate and correspondent clients.
Pegasystems replaced the bank's existing payments investigations system in just 12 weeks. The next phases of the project may focus on further developing the Pegasystems solution's functionality and extending the solution to other areas of the bank. The Pegasystems solution features automated correspondence and interfaces to a transaction processing system, SWIFT Alliance, the CARS Nostro reconciliation solution, and other back-office systems, thereby improving operator productivity.
The ease and speed at which the Pegasystems technology is deployed is due to its rules-based architecture. Non-programming staff can control virtually all aspects of the system -- from the manner by which work is received and routed to the language and currency presented on screens to individual users.
"We were looking for a solution that could be installed in just three months, provide us with a level of straight-through processing within our investigations function, but also have the ability to meet our changing business needs in the future," said Monika Mandal, Associate Director, Operations Control, WestLB London. "Pegasystems has met all these requirements and the company's extensive experience in payments and treasury exception management has proved invaluable. With Pegasystems, we expect to achieve our objectives of faster client responsiveness, improved investigator productivity, and enhanced relationship management."
"We are delighted to help WestLB realize their key objectives," said David Wells, Vice President -- Managing Director, North American and European Service, Pegasystems. "The introduction of the euro has dramatically intensified market competition for payments services. As the need for correspondent banks declines and the payments market consolidates, the remaining providers will need to distinguish themselves through either low cost or superior service. Pegasystems provides the mechanism for a bank to choose the approach that best fits its overall CRM strategy."
The solution is implemented within a multi-tier, client-server architecture, on a Sun Solaris UNIX platform, with a Sybase relational database and NT4 workstations at the front-end.
Westdeutsche Landesbank Girozentrale (WestLB), Dusseldorf/Munster, is a credit institution in the legal form of an institution under public law. The bank performs three main functions. Firstly, it is a universal bank specializing in wholesale banking in Germany and abroad. Secondly, WestLB is the central institution of the savings banks (Sparkassen) in North Rhine-Westphalia and Brandenburg, acting as the partner of the savings banks in both their proprietary and customer business. Thirdly, WestLB is the state and municipal bank of North Rhine-Westphalia, supporting the state in the implementation of its economic and housing construction policy. WestLB is represented in more than 35 countries worldwide and employs over 10,000 staff in the Banking Group. With Group total assets of almost Euro 400 billion and capital and reserves of Euro 18 billion at the end of 1999, WestLB is one of Germany's largest banks.
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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