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New Workflows in Pega Smart Dispute Help Banks Handle the Evolving Payment LandscapeEnhanced features streamline and centralize dispute management with unified solution for new and traditional payment types CAMBRIDGE, Mass., June 28, 2022 /PRNewswire/ -- Pegasystems Inc. (NASDAQ: PEGA), the software company that crushes business complexity, today announced new capabilities for Pega Smart Dispute™ for Issuers. This latest update to Pega's merchant dispute and fraud claim application includes new workflows for resolving the increasing number of non-plastic claims along with expanded coverage for American Express and Zelle payment exceptions. Disruption in the payments market continues to rapidly accelerate with many new technology entrants, coupled with increasing instances of fraud. According to the most recent Capgemini World Payments Report, by 2025 more than 25% of the payment mix will be non-traditional.1 Banks need a single solution to support dispute management for all payment types to help adapt to these changes and simplify claims management. These institutions also need flexibility to enable scalable operations while staying in compliance and delivering exceptional customer experiences. Banks that are unable to accommodate new payment types tend to resort to manual processes that can lead to major back-office inefficiencies, increased costs, and regulatory compliance violations. Pega Smart Dispute is the only application built on an industry-leading low-code platform2 that processes American Express, Visa, and Mastercard dispute rules, as well as new payment types such as Zelle out of the box. The new enhancements also include a Payment Exceptions Recovery (PER) workflow that can be configured in just weeks to automate the intake, processing, and resolution for other new payment types such as Venmo and Cash App -- providing faster time to value than other solutions currently in the market.3 Smart Dispute streamlines and automates merchandise disputes and fraud claims with:
Pega Smart Dispute is now generally available, and the PER workflow is available for download on Pega Marketplace starting today. For more information, visit: https://www.pega.com/industries/financial-services/smart-dispute. Quotes & Commentary: "Pega Smart Dispute has been the global leader in dispute management for almost two decades," said Steve Morgan, banking industry market lead, Pega. "With this latest release and our new Payment Exception Recovery (PER) workflow, clients can quickly adapt to handle exceptions from the latest payment types in the same trusted solution as traditional payments. This helps build more efficiencies to navigate the changing payment landscape while still delivering exceptional service to retain the trust and loyalty of customers." Supporting Resources:
About Pegasystems Pega delivers innovative software that crushes business complexity so our clients can make better decisions and get work done. We help the world's leading brands solve their biggest business challenges: maximizing customer lifetime value, streamlining customer service, and boosting operational efficiency. Pega technology is powered by real-time AI and intelligent automation, while our scalable architecture and low-code platform help enterprises adapt to rapid change and transform for tomorrow. For more information, please visit www.pega.com. Press Contact: All trademarks are the property of their respective owners.
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