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:
â¢ Updated design models that maximize re-use and sharing of application components across an organizationâs lines of business and channels;
â¢ Enhanced data models providing a richer set of industry standards, including IBMâs Information Framework (IFW) data model;
â¢ New enterprise case management capabilities to improve an organizationâs ability to âright sourceâ work across distributed operations centres and third parties;
â¢ Automated localization for global use.
âBecause 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,â said Janelle Hill, research vice president at Gartner. âPre-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."
âUtilizing 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,â said Willy Fox, senior director, Financial Services Solutions, Peg systems. âThe resulting servicing backbones are able to standardize common processes that span individual silos and deliver more effective operations and higher levels of customer satisfaction.â