Pegasystems Announces PegaPAYMENT™ Smart Adjust™ 3.1 To Manage and Automate Payment Research and Adjustment Processes

Image-based Exceptions Management Solution For All Payment Types To Help
Increase Productivity Across Departments

CAMBRIDGE, Mass., October 7, 2003 — Pegasystems Inc. (NASDAQ: PEGA), a leader in rules-based, smart business process management (BPM) software, today announced the general availability of PegaPAYMENT Smart Adjust 3.1, a rules-based, image-enabled solution that provides integrated research and adjustment capabilities across multiple payment types. With a comprehensive set of pre-packaged business processes that automate nearly all error types, Smart Adjust enables financial services organisations to increase their productivity and bridge operational silos.

Integrated with an extensible transaction and records database, Smart Adjust is a comprehensive solution for handling payment forms including check, ACH, ATM and PIN-based debit. Smart Adjust manages processes of inquiry, research and adjustments for all payment types, providing a solution that can span departments and significantly improve productivity across payment operations.

Built on Pegasystems’ sophisticated rules engine, Smart Adjust can increase the number of cases that are processed straight through because the rules engine automates research and decision-making, enabling the operator to complete cases with as little manual entry as possible. Because documents and images are stored electronically with each case, a paperless environment can be created and maintained. Best business practices are embedded throughout application flows, and the flexibility of the rules engine allows business users to quickly and easily change the workflows without IT involvement, enabling organisations to expand and extend their system and adapt to changing business conditions.

PegaPAYMENT Smart Adjust is an evolution of technology that has helped top-tier banks achieve proven results for the past 20 years, helping them to significantly reduce write-offs and debit suspense levels through better control and more efficient processing, resulting in a rapid return on investment. Developed in Java with a Web browser interface, Smart Adjust is
designed for easy deployment, access by multiple departments and rapid service fulfillment for branches, contact centres and corporate customers. The result is an enterprise-wide platform that makes use of IT investments, brings fulfillment of customer service issues to the point of contact and allows for ongoing change. The user interface and functionality can be tailored to, and embedded in, existing browser-based applications, providing specific capabilities to individuals throughout the extended organisation. Smart Adjust equally provides management visibility and control for role-based authorisation, review and reporting.

"Organisations need to prepare for the imminent passage of Check 21 while
managing the growth of electronic payments," said Henry Ancona, president and COO, Pegasystems. "PegaPAYMENT Smart Adjust is fully image-enabled and extends from the customer service centre to the back office for streamlined enterprise research and adjustments across payment types. With Smart Adjust, organisations can significantly increase their productivity across traditional operations silos and help provide more rapid issue resolution for customers."

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