its SmartBPMâ¢ Solution, Smart Investigate, has been awarded the SWIFTNet
Ready Exceptions and Investigations 2005 label. As a result, Pegasystems
products that offer SWIFTNet E&I support will now carry the "SWIFTNet Ready"
label. These products enable substantial improvements in straight-through
processing (STP) for investigation handling.
While SWIFT estimates that only five per cent of investigations are
currently processed straight-through, they recently conducted a study which
indicated up to 60 per cent could be processed without manual intervention
through the use of SWIFT-certified solutions, such as Pegasystemsâ Smart
Investigate for Payments and SWIFTNet Exceptions and Investigations. The
impact of this dramatic increase in STP could be an annual benefit of up to
EUR 148 million industry-wide, according to SWIFT.
LÃ¡zaro Campos, head of banking industry division, SWIFT, said: "The SWIFT
certification is an important accomplishment, and we are pleased to certify
Pegasystems as compliant with the new SWIFTNet Exceptions and Investigations
message and business process standards. We believe new SWIFTNet-compliant
solutions will deliver real value to the global banking community by driving
STP to levels previously unattainable."
Pegasystems was selected as one of only four global vendors to demonstrate
the new SWIFTNet E&I solution at this yearâs Sibos exhibition in Copenhagen.
"We have years of experience providing tier 1 banks and others unparalleled
opportunities to add value to their investigations and other systems. We
are delighted to receive this recognition," commented David Wells,
Pegasystems vice-president and managing director, EMEA.