Pegasystems’ Enhanced Solution Framework for Financial Institutions Helps Reduce Operational Costs

18 September 2008

Pegasystems Inc. (Nasdaq: PEGA), the leader in Business Process Management (BPM), today announced enhancements to its Financial Services Industry Foundation Framework (FSIF) that will help institutions develop servicing backbones. These servicing backbones rapidly reduce operational costs, drive revenue growth and improve the customer experience and support core processes across business silos.

The Pegasystems FSIF provides working process models for core banking functions, such as account opening and on-boarding, fulfilment of customer service requests, automation of payment exceptions, and investigation of fraud and suspicious activities. Customers can immediately deploy and execute, or easily customize without the need for coding. FSIF also offers the following additional enhancements:

• Updated design models that maximize re-use and sharing of application components across an organization’s lines of business and channels;

• Enhanced data models providing a richer set of industry standards, including IBM’s Information Framework (IFW) data model;

• New enterprise case management capabilities to improve an organization’s ability to “right source” work across distributed operations centres and third parties;

• Automated localization for global use.

“Because BPMS represents a paradigm shift from traditional, coded approaches to automating business processes, buyers expect BPMS providers to offer not only the design and runtime environment but also the business process content to accelerate their learning and implementation,” said Janelle Hill, research vice president at Gartner. “Pre-built composite process frameworks, models, rule-sets and services across industry verticals and horizontal business functions are a key component of any business process management solution."

“Utilizing the Financial Services Industry Framework, organizations are able to deploy high value business solutions significantly faster, with higher quality and increased rates of re-use across the enterprise,” said Willy Fox, senior director, Financial Services Solutions, Peg systems. “The resulting servicing backbones are able to standardize common processes that span individual silos and deliver more effective operations and higher levels of customer satisfaction.”

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