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Case Study

Straight through processing of risk assessment and due diligence process for customer onboarding using PEGA

Client Background

A global multi-national banking and financial services company with an extensive presence across the UK, Europe, Africa, the Middle East, and Asia/APAC. They provide a wide range of services, including Consumer, Corporate, Institutional Banking, and Treasury services.

Client Need

  • Automating the Risk Assessment (RA) process to improve efficiency.
  • Dealing with multiple RA processes and technology platforms operating independently in different countries.
  • Coping with frequent changes in government regulations, resulting in delays and confusion during the onboarding process.
  • Addressing issues of duplication, inaccuracies, and confusion within the existing workflow.

Our Solution

  • Conducted an in-depth analysis of the existing business processes to identify areas for improvement and automation.
  • Focused on reducing the overall onboarding time and minimizing application changes required for customers in different countries.
  • Empowered business users to apply rules and validations according to government regulations without IT involvement.
  • Proposed a Pega BPM/Case Management-based workflow solution for automating the Risk Assessment process.
  • Implemented the Pega situational layer cake (SLC) architecture to align the Risk Assessment process with specific country-level requirements.
  • Developed an integration layer using Customer Decision Hub (CDH) to consolidate multiple credit rating systems (FATCA, NORKOM) for analyzing customer Risk Assessment levels.
  • Created a recommendation engine to facilitate the onboarding or rejection of new customers based on their creditworthiness.

Tools & Technologies

Pega DPA, Pega CDH, PRPC, Pega On-boarding, KYC Solution, Java/JEE, Spring Framework

Key Benefits

  • 90% reduction in customer response time, from days to hours.
  • 99% decrease in errors resulting from manual data entry.
  • 40% reduction in the overall customer onboarding process time.
  • Empowering business users to make application changes without the need for redeployment, increasing agility and efficiency.
Case Study KeyPoints

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