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Pega enhances applications to enable banks to centrally manage onboarding and KYC for both corporate and personal banking for the first time

Pega Client Lifecycle Management and Pega Know Your Customer streamline expensive and time consuming onboarding processes while improving customer engagement

CAMBRIDGE, Mass. – September 12, 2016 – Pegasystems Inc. (NASDAQ: PEGA), the software company empowering the world’s leading enterprises with strategic applications for customer engagement, today announced enhancements to its industry leading Pega® Client Lifecycle Management (CLM) and Pega® Know Your Customer (KYC) applications that provide the industry’s first unified solution for managing both corporate and personal banking customer journeys. No other solution allows banks to reduce the massive cost, regulation, and complexity they face from onboarding and offboarding clients across all lines of business on a global scale.

The growing list of complex onboarding and Know Your Customer regulations makes it difficult and expensive for banks to efficiently manage customers across their historically siloed lines of business and legacy systems. By extending the proven Pega CLM capabilities to personal banking channels, banks can drive these processes with a single master view of the client and all related parties, re-using data as they engage across the organization – from buy side and sell side to wealth and personal banking. This combined approach not only reduces costs and streamlines compliance but also provides faster and more consistent customer experiences that reduce the risk of abandonment.

New capabilities for both corporate and personal banking clients further simplify the massive complexity of driving client lifecycles across lines of business, including:

  • More efficient fund onboarding – Pega’s CLM capabilities for corporate and investment banking have been further extended to include bulk fund onboarding, making it the only application that allows for automated bulk onboarding of funds instead of manually rekeying fund information. Banks can instantly upload these fund details when onboarding a fund manager and add the related products for all or a subset of the funds. This automatically creates cases and related cases and dependencies, applying the right due diligence rules, dependencies, and processes.
  • Integration with industry leading data providers – Pega has partnered with leading service providers such as Thomson Reuters (i.e. World-Check), OutsideIQ, Equifax, NominoData, and Dunn & Bradstreet to develop and deliver APIs for leading sanctions, politically exposed persons (PEPs), high risk customer screening, and adverse media services. Additional partnerships with Kyckr and DTCC (Avox, Omgeo) will complement existing integrations with leading KYC utilities such as (powered by Markit and Genpact) and Clarient. These integrations can be fully utilized across personal banking and Pega’s KYC application.
  • Expanded and updated KYC rules – Pega CLM offers full integration with the Pega KYC regulatory rules application. By partnering with leading regulatory advisor and global law firm DLA Piper, Pega KYC provides automated updates to more than 3,500 pre-built due diligence requirements and more than 3,000 pre-configured logic rules for regulations. This enables banks to be in step with changing regulatory requirements, including AML/CTF, FATCA, CRS, Dodd-Frank, EMIR, and MiFID. This also includes recent changes such as the new Fourth EU Money Laundering Directive and FinCEN’s new due diligence and ultimate beneficial ownership (UBO) rules.
  • Improved customer experience – Pega CLM provides new omnichannel capabilities that enhance the customer experience and drive higher customer satisfaction. Banks can guide clients through pre-defined, intent-led digital journeys with complete transparency across all channels, including mobile, online self-service, and branch.;;

Pega CLM is the only globally scalable application for large complex financial institutions to manage end-to-end CLM – from client adoption, enrichment, and KYC due diligence to credit, legal, and risk assessment through to fulfillment – while allowing for multi-jurisdictional, multiproduct onboarding with pre-defined industry best practices. This industry-leading application can be deployed at the world’s largest institutions in as little as three months while speeding time to revenue with new and existing clients. Pega provides deep in-house industry KYC and customer due diligence (CDD) regulatory and onboarding expertise coupled with best-in-class partnerships. Pega’s global team of experts have deployed and built onboarding and KYC solutions for more than 10 years at more than 25 of the world’s largest financial institutions.

Available today, the latest version of Pega CLM and Pega KYC will demonstrated at Sibos 2016 in Geneva from September 26-29, at stand E40. For more information, visit

Quotes & Commentary:

“With new cross-border regulatory requirements emerging that increasingly impact global onboarding, it’s imperative banks put their customers at the center of their business to stem rising compliance costs and complexity across jurisdictions and channels,” said Reetu Khosla, senior director of risk, compliance, and onboarding for financial services, Pegasystems. “With these enhancements to Pega CLM, we are extending our decade-long experience powering onboarding and KYC for the world’s largest corporate and retail banks. This will enable the world’s top financial institutions to rapidly implement Pega’s industry-leading applications with industry best practice functionality across multiple lines of business and channels.”

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Lisa Pintchman
VP, Corporate Communications
[email protected]
+1 617-866-6022

North America

Sean Audet
Director, Corporate Communications
[email protected]
+1 617-528-5230

Ilena Ryan
Sr. Manager, Public Relations
[email protected]
+1 617-866-6722


Joanna Richardson
Director, Corporate Communications
[email protected]
+44 (0) 118 9651 660

Jon Brigden
PR & Communications Manager
[email protected]
+44 (0) 118 9398 584

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