PEGA® KYC WITH FATCA FOR FINANCIAL SERVICES

PEGA® KYC WITH FATCA FOR FINANCIAL SERVICES
AGILE PLATFORM FOR FASTER, COMPLIANT ONBOARDING
F I NAN CIAL S E RVI CES
AT A GLANCE
KEY CHALLENGE
SIMPLIFY AND STREAMLINE COMPLIANCE FOR FASTER
TIME TO REVENUE
Manual processes, complex and
Pega® KYC with FATCA for Financial Services delivers a proven solution for streamlining
ever-changing regulations and
compliance during onboarding and maintenance. This unified platform automatically
repetitive due diligence requests are
enforces common best practices and regulations while dynamically supporting unique
driving longer onboarding times and time
regulations, policies and procedures by geography, line of business and product. Global
to revenue, greater costs, higher customer
institutions can easily automate the steps required to comply with multiple regulations
dissatisfaction and non-compliance.
that affect onboarding and time to revenue, including CIP, EDD, Suitability, MiFID and
FINRA requirements. With Pega, every onboarding experience can be compliant, faster
THE SOLUTION
Pega KYC with FATCA's unified platform
enforces regulatory requirements and
company best practices during onboarding.
Dynamic processes automatically apply
regulatory rules by country, line of business
and customer-focused.
Standardize and specialize compliance globally
Cut onboarding time and time to transact while enabling compliance using rulesdriven processes that dynamically apply the right regulation at the right time from
front-to back-office.
Engage your customers with optimized onboarding
and product to ensure compliance with
Deliver a personalized experience with a 360-degree view of each customer and
global and regional requirements. Built on
intelligent processes that guide staff through required activities based on customer,
Pega’s award-winning Build for Change®
product, geography, regulation and risk rating.
technology, Pega KYC with FATCA delivers
the highest level of agility to manage risk
and regulatory change.
Maintain compliance throughout the customer lifecycle
Facilitate ongoing compliance with end-to-end case management and automatic
re-reviews based on changes to customer profiles.
Accelerate response to regulatory change
Rapidly adapt to new regulations and risks with Pega’s patented Build for Change®
FAST ONBOARDING,
COMPLIANCE AND TIME
TO REVENUE
technology empowering business-level modification and extension.
A global FSI relies on Pega KYC with
FATCA to serve thousands of relationship
managers, customers and more than
100,000 due diligence profiles across
multiple lines of business and geographies.
The bank has decreased time for due
diligence and onboarding by 70 percent,
reduced manual processing by 60 percent
and achieved a 100 percent improvement
in compliance controls.
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PEGA® KYC WITH FATCA FOR FINANCIAL SERVICES
T H E P E GA DIFFER ENCE
Increase Compliance Consistency
Global reuse of current due diligence and KYC documentation
presents required versus existing due diligence, ensuring
A master customer profile delivers a 360-degree view of individuals
and entities across accounts, geographies, lines of business and
complex direct/indirect and parent/child relationships.
consistency while minimizing transaction time.
Automated case creation, routing, and rules simplify and
streamline front- to back-office processes.
A unified platform with automated SLAs and escalation
prioritizes and routes due diligence activities among multiple
Unified omni-channel environment makes it easy to
onboard multiple customers and initiate cases across
users for timely and accurate evaluation.
all channels and devices.
Rules-driven processes automate escalations and approvals
based on risks.
An easily configured, real-time reporting dashboard and robust
pre-defined reports on key operational risk metrics, including
Improve Risk Assessment
Quickly configured rules assign risk rating based on customer,
timeliness, volumes and trending deliver exceptional visibility,
transparency and control.
product and geography.
Automatically recalculated overall case and risk rating
A date- and time-stamped history provides a complete audit
identifies and drives additional KYC requirements throughout
trail of all of manual and automated steps taken during
the customer lifecycle.
evaluation, including related documentation and all system,
rule and workflow changes.
Rapidly Adapt to Changing Regulations
Familiar office tools enable rapid configuration and modification
Accelerate Onboarding and Time to Revenue
of rules, workflows, user interfaces and risk variables to support
Dynamic rules support specialization by country, line of
regulatory changes.
business and product for KYC, EDD, FATCA, MiFID, FINRA
Reusable and extensible case and folder structures maintain all
and other compliance requirements.
KYC information for an entity’s KYC profile.
Intent-led processes guide users, automatically adjusting the
Pega KYC with FATCA is easily extended to “Know Your Employee”,
steps based on customer, product, geography, regulatory
“Know Your Vendor” and “Know Your Broker” requirements.
requirements and risk rating.
End-to-end workflow automation with easy, quick integration to
enterprise and third-party systems eliminates manual processing
and repetitive document requests.
Global Business: Managing KYC/CIP/EDD Regulations
SPECIALIZED RULES BY GEOGRAPHY AND BUSINESS LINE
Business Rules Change
Regulations Change
Risks Change
Suitability
W E A LT H
SECURITIES
US
INVESTMENT
U K | FAT C A : 1 I G A
ASSET
MANAGEMENT
SINGAPORE
A P A C | FAT C A
E U R O P E | MiFID
DIFFERENCES
• 
• 
• 
• 
• 
Type of Customer
Product Type
Business Line
Customer Profile
Regulation
COMMON CDD/EDD POLICIES
| AML
AND PROCEDURES
G L O B A L C O R P O R AT E G O V E R N A N C E
COMMON PRACTICES
Pega KYC with FATCA
provides a complete solution
for integrating compliance
into customer onboarding
processes. The solution can
automate compliance for a
wide range of KYC-related
regulations, including EDD,
MiFID, and FINRA rules.
PEGA
2014 - 6 FS
For more information, please contact your Pegasystems representative, visit us on the Web at www.pega.com,
or email us at [email protected]. © Copyright 2014 Pegasystems. All rights reserved.

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