Pega Adds Robotic Automation to Banks' Onboarding and Customer Processes
Pegasystems has integrated its Pega Robotic Automation with Pega Client Lifecycle Management (CLM) and Pega Know Your Customer (KYC) to help banks speed client onboarding processes, reduce operational costs, and accelerate time to market.
Pega CLM and Pega KYC streamline client adoption, new product and jurisdiction onboarding, and KYC, to legal, fulfillment, and offboarding on a single solution. Now Pega CLM and Pega KYC deliver even more efficiency gains with Pega Robotic Automation by offloading many of the high-volume, low-complexity onboarding and KYC tasks.
Additional benefits include the following:
- Collecting and normalizing data from external third-party data providers (screening engines, data providers, utilities) and internal system;
- Streamlining user tasks from front to back office by eliminating manual data entry and data gathering across sales, compliance, and operations in multiple systems; and
- Combining robotic automation with Pega CLM's optimized target operating model.
Pega Robotic Automation enables businesses to optimize workflows by both humans and robots across the enterprise from a centralized and globally scalable end-to-end solution.The technology was made possible through, Pega's acquisition of OpenSpan in 2016.
"With a complex web of regulations to manage, financial institutions can benefit significantly from robotic automation. This helps banks to not only meet aggressive remediation deadlines of millions of accounts but also streamline time to transact for what has traditionally been a manual and siloed process," said Reetu Khosla, senior director of risk, compliance, and onboarding for financial services at Pegasystems, in a statement. "Pega now makes it possible for banks to drive rapid return through robotic automation embedded into our industry-leading CLM and KYC applications for the first time."
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