productivity, boost customer service and reduce operational risk
CAMBRIDGE, Mass., October 20, 2003 â Pegasystems Inc. (NASDAQ: PEGA), a
leading provider of rules-based, smart business process management (BPM)
software, today announced that HVB Group, the second largest private-sector
bank in Germany, with eight million customers and thousands of branch offices, is deploying a suite of Pegasystems applications that police the transfer of millions of euros changing hands internationally on a daily basis. The agreement was signed in the first quarter of 2003.
"Mitigating risk is too often an inexact science in financial systems, and
there are numerous ways that payments can go awry," said Martin Buehler, HVB
Group. "Pegasystemsâ software is scalable, allowing many thousands of users
to use the software at once. Its graphical approach to business rules is
easy and intuitive, allowing us to quickly adapt to changes in a rapidly
HVB Group has integrated Pegasystemsâ software with its existing payments
and reconciliation systems and other back-office systems. The new solution
automatically routes payment exceptions â discrepancies that can arise in
the complicated process of transferring large amounts of money internationally â into the Pegasystems application to help HVB Group resolve them more quickly and efficiently. Pegasystemsâ rules-driven software helps to decrease the number of steps involved, to reduce manual re-keying of data, to automate reporting, and to help provide standardised message templates so that operators can respond to customers consistently. The software also helps reduce the time and expense involved in processing exceptions, and helps to reduce the number of faults that occur in payment transactions, while also helping to minimise operational risk.
"Pegasystemsâ software helps put financial institutions like HVB Group in
the driverâs seat through smart, simple BPM that automates processes and
makes it easier to control them," said David Wells, vice president and
general manager, Pegasystems Europe. "The softwareâs scalability also makes
it possible to extend its functionality across other areas of the banking
group and branch offices."
Pegasystemsâ software automates a full range of investigations, including
payments, compensation claims and reconcilement. The software creates records for reporting, allowing historical research for instruction detail, transaction messages and confirmation detail. It also includes web self-service capabilities that extend the solution to branch offices, customers and partners. The software parses messages directly from SWIFT, the international financial communications system, strips out the relevant data, and creates an electronic case that an HVB Group employee can immediately begin processing. The file is integrated with the institutionâs databases and applications so it can directly access information relevant to a query or investigation.