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Pegasystems Enhances Pega CLM and Pega KYC
Pega Client Lifecycle Management and Pega Know Your Customer streamline expensive and time consuming onboarding processes while improving customer engagement.
Posted Sep 13, 2016
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Pegasystems has enhanced its Pega Client Lifecycle Management (CLM) and Pega Know Your Customer (KYC) applications for managing both corporate and personal banking customer journeys.

By extending the Pega CLM capabilities to personal banking channels, banks can drive customer onboarding and offboarding with a single master view of the client and all related parties, re-using data as they engage across the organization, from buy side and sell side to wealth and personal banking.

New capabilities for both corporate and personal banking clients include the following:

  • More efficient fund onboarding: Pega's CLM capabilities for corporate and investment banking have been extended to include bulk fund onboarding. Banks can instantly upload fund details when onboarding fund managers and add the related products for all or a subset of the funds. This automatically creates cases and related cases and dependencies, applying the right due diligence rules, dependencies, and processes.
  • Integration with data providers: Pega has partnered with leading service providers such as Thomson Reuters, OutsideIQ, Equifax, NominoData, and Dunn & Bradstreet to develop and deliver APIs for leading sanctions, politically exposed persons (PEPs), high-risk customer screening, and adverse media services. Additional partnerships with Kyckr and DTCC (Avox, Omgeo) will complement existing integrations with leading KYC utilities such as kyc.com and Clarient. These integrations can be fully used across personal banking and Pega's KYC application.
  • Expanded and updated KYC rules: Pega CLM offers full integration with the Pega KYC regulatory rules application. By partnering with regulatory advisor and global law firm DLA Piper, Pega KYC provides automated updates to more than 3,500 prebuilt due diligence requirements and more than 3,000 preconfigured logic rules for regulations.
  • Improved customer experience: Pega CLM provides new omnichannel capabilities . Banks can guide clients through pre-defined, intent-led digital journeys with complete transparency across all channels, including mobile, online self-service, and branch.

"With new cross-border regulatory requirements emerging that increasingly impact global onboarding, it's imperative banks put their customers at the center of their business to stem rising compliance costs and complexity across jurisdictions and channels," said Reetu Khosla, senior director of risk, compliance, and onboarding for financial services at Pegasystems, in a statement. "With these enhancements to Pega CLM, we are extending our decade-long experience powering onboarding and KYC for the world's largest corporate and retail banks. This will enable the world's top financial institutions to rapidly implement Pega's industry-leading applications with industry best practice functionality across multiple lines of business and channels."


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