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Pegasystems Helps Streamline Payment Investigations At Germanys Second Largest Private-Sector Bank

Monday 20 October 2003 15:09 CET | News

HVB Group, the second largest private-sector bank in Germany, is deploying a suite of Pegasystems applications that police the transfer of millions of euros changing hands internationally on a daily basis. The agreement was signed in the first quarter of 2003.

HVB Group has integrated Pegasystems software with its existing payments and reconciliation systems and other back-office systems. The new solution automatically routes payment exceptions - discrepancies that can arise in the complicated process of transferring large amounts of money internationally - into the Pegasystems application to help HVB Group resolve them more quickly and efficiently. Pegasystems rules-driven software helps to decrease the number of steps involved, to reduce manual re-keying of data, to automate reporting, and to help provide standardized message templates so that operators can respond to customers consistently. The software also helps reduce the time and expense involved in processing exceptions, and helps to reduce the number of faults that occur in payment transactions, while also helping to minimize operational risk. Pegasystems software automates a full range of investigations, including payments, compensation claims and reconcilement. The software creates records for reporting, allowing historical research for instruction detail, transaction messages and confirmation detail. It also includes Web self-service capabilities that extend the solution to branch offices, customers and partners. The software parses messages directly from SWIFT, the international financial communications system, strips out the relevant data, and creates an electronic case that an HVB Group employee can immediately begin processing. The file is integrated with the institutions databases and applications so it can directly access information relevant to a query or investigation.


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Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce