Expanded AI-powered automation helps banks resolve payment exceptions faster while reducing operational costs

Pegasystems Inc. (NASDAQ: PEGA), The Enterprise Transformation Company™, today announced a new edition of Pega Smart Investigate™, including expanded automation and generative AI capabilities to help banks process payment exceptions and investigations faster and more efficiently. With a dramatically improved user interface, the new Pega Smart Investigate Enterprise Edition enables end-to-end process automation and supports the latest ISO 20022 standards to help financial institutions tackle the growing volume of payment exceptions while reducing operational costs and improving client satisfaction.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241211951272/en/

This screenshot of Pega Smart Investigate Enterprise Edition shows how bank employees can leverage Pega GenAI Coach to receive guidance on how to accelerate payment exceptions and investigations. (Graphic: Business Wire)

Banks around the world are racing to meet the goal set by the G20 to process cross-border payments in under an hour by 2027. But with the increasing volume of global sanctions and ever-changing payment standards, many banks struggle due to outdated systems, manual and siloed processes, and already strained resources. Banks need ways to automate more of these costly payment exceptions and investigations to meet the increasing expectations from clients.

With an updated modular architecture, Pega Smart Investigate Enterprise Edition adds extensive automation capabilities through the entire payment investigation lifecycle. This significantly reduces manual work and brings complex cases to resolution much faster. As the leading ISO 20022 compliant solution with MT and ISO interoperability, Pega Smart Investigate Enterprise Edition builds on its decades of market leadership to quickly orchestrate and automate exceptions for even the most complex cross-border payment scenarios.

Available today, Pega Smart Investigate Enterprise Edition includes several key new innovations such as:

  • Expanded automation and improved workflows
    • Advanced end-to-end process automation enables straight-through processing, including automatic generation of new cases and retrieval of existing payments data, which helps speed resolutions, improve client satisfaction, and reduce total costs.
    • Intelligent workflow design with Pega GenAI Blueprint™ enables banks to quickly create new resolution processes or handle new payment and message types. New workflows can be generated by simply describing the desired process using natural language and leverages Pega’s decades of best practices.
    • Frictionless access to client-facing channels, now integrated with market-leading Pega Customer Service™, provides automated email handling and front office integrations.
  • Advanced AI agents for guidance and summaries
    • Ongoing process optimization and guidance with Pega GenAI Coach™ provides real-time advice to employees throughout the process lifecycle.
    • Instant access to documentation and best practices with Pega Knowledge Buddy™ uses gen AI to find information for employees fast.
    • Automatic AI-generated case summaries provides quick insights and overviews to any case.
    • Instant summaries of complex and technical Swift messages into layman’s language provides better clarity and ease comprehension for operations staff, customer service, and relationship managers while providing greater transparency across the organization and to clients.
  • Improved architecture and UI
    • Modular investigation workflows allows for greater flexibility and efficiency of complex processes across multiple jurisdictions while making the solution easier for IT to configure, extend, and maintain.
    • Continued close partnership with Swift provides out-of-the-box support for the latest Swift messaging standards, including formats such as ISO, FIN/MT, swift gpi, and CBPR+.
    • A more responsive user interface provides a more modern look and feel.

Pega Smart Investigate Enterprise Edition builds on Pega's 40-year leadership in cross-border payments exceptions management. Used by 90% of the world's largest cross-border payment processors, Pega Smart Investigate is the only solution fully supporting ISO 20022 standards while maintaining compatibility with existing payment formats. This ensures banks can modernize their operations while maintaining business continuity.

EvonSys, a valued Pega partner with deep expertise in commercial payments, played a pivotal role in shaping this solution by contributing their industry knowledge and implementation experience.

Pega Smart Investigate Enterprise Edition is available today. Some AI features may require additional licenses. For more information, visit here.

Quotes & Commentary: "This new version of Pega Smart Investigate represents a significant leap forward in payment exception handling," said Ryan White, director, product management, Pega. "By combining advanced automation with generative AI capabilities, we're helping banks transform what has traditionally been a complex, manual process into a streamlined, intelligent workflow that can dramatically reduce resolution times and improve the client experience."

“Our technology partners’ efforts in piloting and implementing new ISO 20022 standards for cross-border payment investigations, alongside integration with Swift’s new Case Management solution, represent meaningful progress in reshaping the exceptions and investigations (E&I) landscape,” said Shirish Wadivkar, head of transaction management, Swift. “Pega’s involvement in this year’s pilot and broader customer adoption reflects a strong commitment to enhancing efficiency and driving innovation in cross-border payments.”

“As leaders in commercial payments transformation, we were thrilled to collaborate on delivering this next-generation payment investigations solution,” said Andy Elliott, vice president, product strategy, EvonSys. ”This innovative approach, powered by Pega's advanced automation and AI, will redefine how banks tackle payment investigations, driving operational efficiency and delivering exceptional value to the market.”

Supporting Resources:

  • More information: Pega Smart Investigate background
  • Data Sheet: Pega Smart Investigate

About Pegasystems Pega is The Enterprise Transformation Company that helps organizations Build for Change® with enterprise AI decisioning and workflow automation. Many of the world’s most influential businesses rely on our platform to solve their most pressing challenges, from personalizing engagement to automating service to streamlining operations. Since 1983, we’ve built our scalable and flexible architecture to help enterprises meet today’s client demands while continuously transforming for tomorrow. For more information on Pega (NASDAQ: PEGA), visit www.pega.com

All trademarks are the property of their respective owners.

Press: Sean Audet Pegasystems sean.audet@pega.com

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