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Pegasystems Helps Financial Services Institutions Transform Customer Service

By Carolyn J Dawson
TMCnet Contributor

A significant upgrade to Pegasystems’ (News - Alert) customer relationship management or CRM offerings for financial services has been announced. Significant operational cost efficiencies are driven by Pega's CPM for Treasury, Securities and Transaction Banking solution. At the same time, superior customer service is consistently provided across all products and geographies. Pegasystems is the top company in Business Process Management or BPM and software for customer centricity.

A comprehensive, customer-centric view across products, regions and channels is delivered by the solution. The solution can therefore predict and adapt to customers' needs. A banking platform of the future is therefore given to the financial institutions. Service requests to sophisticated self-service capabilities are supported by the solution’s strong case management capabilities. Apart from strengthening relationships with clients, financial service organizations are able to maximize their share of wallet with service-generated revenue.

The important factors for corporations in deciding where to place their business are ease of access to service and information across channels. This trend is being embraced by the most successful banks. Business with one or more banks has been reduced by nearly 50 percent of corporate respondents who took part in a joint survey by Finextra Research and Pega in 2010. The reasons for reduction in business included inconsistent customer service and lack of appropriate self-service tools. Switching banks for better customer service related to on-boarding was being considered by nearly 70 percent of the respondents.

In a release, Adi Bachar-Reske, marketing director for the Financial Services Industry at Pegasystems said, “There are an ever-increasing number of global corporations that want more value from their banking relationships, and they are growing impatient when their needs aren't met. But many banks are still trying to get by today with inflexible legacy system assets that impede their ability to execute effectively.”

According to Bachar-Reske, in order to provide the banking platform of the future it is mandatory to have advanced BPM, CRM and Case Management technologies. The high-quality customer service capabilities demanded by many financial services corporations can be therefore provided.