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Case Study

HSBC streamlines its payments investigations operations with Pega

  • Needed to streamline payment investigation operations across 50+ countries to align with changing regulations
  • Upgraded Pega Platform and built Pega COE
  • Meeting more business objectives and improving customer experience by giving Customer service teams direct access to Smart Investigate

“This allowed us to deliver business objectives around improved productivity and reduced SLAs, while de-risking operational errors and improving customer experience.”

The Business Issue

HSBC is one of the world's largest banking and financial services organizations, serving more than 40 million customers across the globe.

Within the bank, payment services is a critical global function providing payment processing, investigations, sanction screening, and messaging services to customers. All of this functionality is underpinned by HSBC’s core data services, enabling business insights, payment status tracking, and archival solutions.

The company’s Global Payment Investigations solution is built on Pega’s Smart Investigate framework, with over 2000 users. At this scale, one of the biggest challenges HSBC’s IT organization faces is how to exploit technology while partnering with the business to deliver timely, tangible value to clients through innovation, transformation and simplification.

The Solution

HSBC began this transformation by first implementing a major upgrade of its platform to Pega Infinity 8 to prepare themselves to take full advantage of future innovations. The bank then partnered with Pega's business value services team to run an operational walkthrough of its investigation processes. Through this, the team identified operational gaps and brainstormed on possible solutions.

In addition, HSBC built a center of excellence for Pega practice, and developed key tenets such as start simple but improve continuously, ultimately, leading into total business transformation.

The Results

By relying on Pega’s Smart Investigate product, HSBC is able to resolve all payment inquiries quickly, efficiently, and with a single point of contact.

The bank is currently focused on streamlining its operations to align with SWIFT’s ISO 20022 program and to roll out real-time payment schemes to all of its major markets.

Additionally, participating in Pega’s Client Advisory group has set the bank up for future preparedness, as having information about upcoming features in future versions will help prioritize the ones best suited for HSBC's business needs. They also achieved productizing the payment investigation capability and now have a center of excellence for Pega practice.

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Industry: Financial Services Product Area: Platform
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