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Sword FircoSoft Announces closer work relationship with Pegasystems for Shared Client

Sword FircoSoft, the leading global provider of watchlist filtering solutions, today announced that it has developed a powerful, joint proposition with Pegasystems Inc., (NASDAQ: PEGA), the leader in Business Process Management (BPM) software solutions. The proposition has been designed to deliver significant benefits in the face of mandatory and regulatory Financial Crime Management changes.

Pegasystems and Sword FircoSoft signed the agreement to work together by providing best in breed technology for shared customer accounts. This formal agreement responds to an already proven capability with shared client in the banking sector. This closer working relationship brings a new offering to the market and new possibilities for other organisations in need of an integrated financial crimes case management and watchlist filtering solution.

“Sword FircoSoft typically generates thousands of sanctions alerts each day, which are passed on to Pegasystems who provide the case management around those alerts,” says Reetu Khosla, director of financial crime solutions, Pegasystems. “By managing the process in this way, we’re able to build efficiency and control into the case management process, enhance the internal control and ensure compliance.”

The agreement is designed to allow financial institutions the ability to integrate the alerts in a central rules driven financial crime management solution adhering to rigorous compliance and regulatory scrutiny, all in a timely manner for their customers.

John Nash, Alliance Manager of Sword FircoSoft says: “This agreement now allows us together to provide an end-to-end solution for a holistic sanctions alert programme, we’re delighted at the possibilities that this will bring for the future.”