New Pega Accelerator Helps Financial Institutions Streamline Financial Crimes Investigations
Pega's world-class intelligent automation and generative AI helps financial institutions more efficiently orchestrate rising number of cases
CAMBRIDGE, Mass., Oct. 11, 2023 /PRNewswire/ -- Pegasystems Inc. (NASDAQ: PEGA), the low-code platform provider empowering the world's leading enterprises to Build for Change®, today announced the Pega Financial Crime and Alerts Investigation Management Accelerator, a new solution that helps financial institutions manage the rising number of risk alerts and more efficiently orchestrate investigations. By leveraging Pega's proven intelligent automation and case management capabilities along with its groundbreaking generative AI-powered capabilities, financial institutions can break through operational silos and speed investigations for what is traditionally a time-intensive and manual process.
Financial crimes – such as fraud, money laundering, structuring, and sanctions violations –are rapidly rising, putting increasing strain on financial institutions' risk teams to investigate each potential incident. While detection and monitoring systems have matured, financial institutions still struggle to manage the increasing volume of these alerts and investigations, which have been further exacerbated by global economic sanctions. Compounding this problem, risk teams from different departments often work in silos and use different monitoring and case management tools, making it difficult to get a consolidated picture of all risks related to each customer. This can lead to inefficient and duplicative processes, unnecessary manual work, and inconsistent outcomes.
The Pega Financial Crime and Alerts Investigation Management Accelerator provides financial institutions with a unified solution to manage alerts and drive investigations for all types of risk detection systems across all departments, jurisdictions, and lines of business. The accelerator provides a holistic, transparent, and actionable view of each customer's risk profile in a single application, helping drive more collaboration for even the largest and most complex financial institutions. And with Pega's leading intelligent automation and AI, financial institutions can streamline their investigatins, resulting in faster resolutions, lower costs, and better outcomes for their customers.
Available today for download on Pega Marketplace, Pega Financial Crime and Alerts Investigation Management Accelerator provides any financial institution the following key features and benefits:
Pega's low-code platform for AI-powered decisioning and workflow automation is trusted by the majority of the world's largest financial institutions. For more than 30 years, Pega has provided global financial institutions with case management, workflow automation, and customer risk solutions across KYC, AML, alert management, fraud, account opening, and client lifecycle management. Pega supports all types of financial institutions with pre-defined industry best practices across jurisdictions and lines of business.
For more information about Pega Financial Crime and Alerts Investigation Management Accelerator, please visit www.pega.com/industries/financial-services/financial-crimes
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SOURCE Pegasystems Inc.