Pegasystems announced its Know Your Customer solution, built on the vendor's SmartBPM Suite, will enable insurance organizations to manage their client on-boarding processes and ensure compliance to complex global regulatory requirements.
By automating regulatory requirements that are specific to different global jurisdictions, customers and products, the new Pegasystems solution will enable organizations to achieve regulatory compliance, while also improving customer service levels by accelerating the on-boarding process by up to 70 percent.
The KYC solution provides a common platform, allowing for specialization by country, line of business, and product-specific KYC. The solution reduces manual processing, repetition of document requests, while managing risk dynamically, resulting in a significant reduction in operational risk while improving customer experience.
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