Pegasystems Launches Smart Adjust 4.1

Wednesday 15 September 2004 16:43 CET | News

Pegasystems has released PegaBANKING Smart Adjust 4.1, the retail banking industrys leading cross-payment platform for automating payment exception handling.

Addressing exceptions in check, ACH, debit card, ATM and other areas, Smart Adjust 4.1 allows customers to manage payment exceptions with a single solution, dramatically lowering the cost of handling non-standard transactions of any payment type. New features include the ability to process substitute checks and automate handling of ACH disputes. Smart Adjust 4.1 has been built to help banks comply with the new Check Clearing for the 21st Century Act (or Check 21) regulations, by providing the capabilities necessary to handle substitute checks - as well as paper checks, check images, ACH and other electronic payment types. By handling disputes, errors, and issues across all types of payments, Smart Adjust helps financial institutions and service bureaus streamline their operations and deploy a single solution to address payment issues. Built on Pegasystems’ newest version of its industry-leading, Java-based BPM platform, Smart Adjust is built for change and can be easily adapted to suit evolving business needs and industry practices. Smart Adjust 4.1 is Pegasystems’ latest version of its retail payment exception solution and utilises Pegasystems’ proven success in automating exceptions handling for leading banks for the past 15 years. Smart Adjust 4.1s new functionality includes: - Support for substitute checks in all research and adjustment processes. Smart Adjust allows retail banks to seamlessly manage paper checks, images and substitute checks for customer inquiry, customer dispute and inter-bank adjustment purposes. - ACH return automation, a new capability that eases the costs and risks of exponentially escalating ACH volumes by intelligently researching and responding to customer disputes of ACH transactions. Smart Adjust provides end-to-end automation of case initiation, accounting, correspondence, document management, regulatory compliance management and inter-bank communication for such disputes. - Pre-packaged integration with Pegasystems enterprise exception monitoring application, for proactive monitoring and reporting capabilities across multiple departments.This complements the pre-existing integration that Smart Adjust offers with Pegasystems components for image retrieval and viewing, and transaction data storage and research.

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Categories: Payments & Commerce | Payments General
Countries: World
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