Pegasystems Releases Solution for Financial Institutions to Manage Risk Alerts, Investigations Efficiently
Pegasystems Inc, powerful low-code platform provider, released Pega Financial Crime and Alerts Investigation Management Accelerator, to aid financial institutions manage burgeoning risk alerts and execute investigations efficiently.
By leveraging intelligent automation and case management capabilities, paired with generative artificial intelligence (AI) capabilities, Pega enables financial institutions to advance in operational silos while accelerating investigations that are traditionally time consuming and manual process oriented.
Oftentimes financial institutions struggle dealing with growing numbers of alerts and investigations even when detection and monitoring systems have advanced. Eventually, risk teams of various departments end up working in silos, using different monitoring and case management tools, which do not provide a clear picture of all the risks related to each customer. This results in inefficient and duplicative processes, unnecessary manual work, and inconsistent outcomes.
To solve that the Pega Financial Crime and Alerts Investigation Management Accelerator stands as a unified solution that assures financial institutions to manage alerts and investigations for every kind of risk detection systems across all departments, jurisdictions, and lines of business.
In a single application, each customer’s risk profile is pitched with a holistic, transparent, and actionable view, which drives more collaboration for the largest and most complex financial institutions as well.
Additionally, financial institutions will be able to to streamline their investigations leading to reach resolutions faster with lowered costs and better outcomes for customers thanks to Pega’s intelligent automation and AI.
"With financial crime alerts growing exponentially in complexity and in volume due to global events, financial institutions need a better way to consolidate and streamline their investigation processes to manage risk and cost," said Jason Grasso, financial services solutions global leader, Pega.
"The launch of Pega Financial Crime and Alerts Investigation Management helps financial institutions better orchestrate, automate, and triage investigations end to end, providing their teams with a 360-degree customer view and driving better investigative outcomes."
Below are the features and benefits of the Pega Financial Crime and Alerts Investigation Management Accelerator.
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Smarter process orchestration with case management and intelligent automation: Enables all types of alerts, regardless of monitoring systems, to be captured and assessed regularly. This allows investigators to examine the case rather than spend time accumulating and managing information.
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Reduced time and costs with automation and AI: Investigations can be sped-up along with accuracy through Pega’s automation and AI capabilities.
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Increased flexibility with configurable system options: With configurability, financial institutions could be able to leverage pre-built process templates in any manner while effortlessly adjusting and extending them to fit their desired needs.
A vast number of large financial institutions worldwide trust Pega's low-code platform for AI-powered decisioning and workflow automation. For over three decades, Pega has been providing financial institutions with case management, workflow automation, and customer risk solutions across KYC, AML, alert management, fraud, account opening, and client lifecycle management. Lastly, it supports financial institutions of every kind pre-defined industry best practices across jurisdictions and lines of business.