Pegasystems to help banks drive rapid returns through robotic automation

Pegasystems claims that its applications can be deployed in global institutions in as little as three months

Pega

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A tech savvy humanBOT, Sharmistha is a professional writer

Pegasystems, an American software company in the enterprise customer relationship management sector, has launched robotic automation capabilities to speed client onboarding processes, reduce operational costs, and accelerate time to market. The company has announced to integrate Pega Robotic Automation with Pega Client Lifecycle Management (CLM) and Pega Know Your Customer (KYC) to help global financial institutions automate repetitive manual tasks in onboarding and KYC remediation processes to ultimately improve the customer experience.

Pega CLM and Pega KYC streamline and coordinate end-to-end processes from client adoption, new product and jurisdiction onboarding, and KYC, to legal, fulfillment, and offboarding – on a single solution. On the other hand, Pega Robotic Automation enables businesses to intelligently optimize how work gets done – by both humans and robots – across the enterprise from a centralized and globally scalable end-to-end solution.

The latter has now been natively unified within Pega CLM and Pega KYC to infuse robotic automation to enable organizations to run tasks unattended while mitigating risk and meeting regulatory mandates. The ultimate aim is to make employees more productive while freeing them to focus on delivering better customer experiences.

“With a complex web of regulations to manage, financial institutions can benefit significantly from robotic automation. This helps banks to not only meet aggressive remediation deadlines of millions of accounts but also streamline time to transact for what has traditionally been a manual and siloed process,” said Reetu Khosla, Senior Director, Financial Services, Pegasystems.

Additional benefits include the ability to:

Reduce time to market and eliminate manual data entry errors in large-scale KYC remediation projects by collecting and normalizing data from any external third-party data provider (screening engines, data providers, utilities) and internal system.

Streamline user tasks from front to back office by eliminating manual data entry and data gathering across sales, compliance, and operations in multiple systems.

Cut costs by an additional 20 to 50 percent by combining robotic automation with Pega CLM’s optimized target operating model, which allows global banks to provide multi-jurisdictional, multi-product onboarding to complex entities.

Pegasystems further claims that its applications can be deployed in global institutions in as little as three months, while speeding time to revenue with new and existing clients.

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