Leading risk technology analyst firm scores Pega highest out of 18 competing solutions
Pegasystems Inc. (NASDAQ: PEGA), the software company empowering customer engagement at the world’s leading enterprises, has announced that leading risk technology analyst firm Chartis Research has named Pega as the top category leader in Know Your Customer (KYC) systems in its latest RiskTech Quadrant® report.
Chartis ranked Pega® KYC and Pega® CLM the highest out of 18 competing vendor solutions based on completeness of offering and market potential across 14 criteria. Chartis describes category leaders as “combining deep domain knowledge in various risk topics with deep technology assets and capabilities” that address the needs both large and small clients. In particular, Chartis noted Pega ranked highly in “KYC risk scores, its capabilities for enriching customers’ profiles, its support for additional due diligence, and its Customer Lifecycle Management (CLM) capabilities.”
Pega KYC and Pega CLM are the only globally scalable applications for large complex financial institutions to manage end-to-end CLM and KYC from institutional onboarding to retail banking. The applications provide industry-leading inherit robotics, remediation, rules, case management, and a smart target operating model that can be deployed in as little as three months while speeding time to revenue with new and existing clients. Pega provides deep in-house industry KYC and customer due diligence (CDD) regulatory and onboarding expertise coupled with best-in-class partnerships and regulatory rules engine, which stay up to date on the latest changes to regulations such as AML, FATCA, CRS, MiFID II, Dodd-Frank, and EMIR. Pega’s global team of experts have deployed onboarding and KYC solutions for more than 10 years at more than 25 of the world’s largest financial institutions.
To read the Chartis Vendor Highlights report based on the Financial Crime Risk Management Systems: Market Update 2017 report, visit http://www.pega.com/risktech-chartis-2017
Quotes & Commentary:
“Financial institutions are facing increasing pressure to efficiently and effectively onboard customers in the face of increasing anti-money laundering regulations specific to location, product, and line of business,” said Sid Dash, Research Director, Chartis. “Our analysis found Pega KYC to be a category leader that can help banks manage these critical issues with advanced KYC and CLM capabilities backed by deep industry expertise.”
“As the web of complex KYC regulations continues to grow, Pega has helped many of the world’s most complex global financial institutions streamline regulatory compliance while providing multi-jurisdictional, multi-product onboarding on a global scale,” said ReetuKhosla, head of risk, compliance, and onboarding, financial services,Pegasystems. “This recognition from Chartis reinforces our market leadership position driven by our unique ability to provide smart customer lifecycle management and KYC technology that can be rapidly implemented to drive front to back office transformation.”