Pegasystems Enhances Payment Processing with AI-Powered Solutions

Pegasystems Unveils AI-Powered Solutions for Banking Sector

Pegasystems Inc. (NASDAQ: PEGA), a leader in enterprise transformation, has announced significant upgrades to its banking solutions, aiming to revolutionize payment processing and dispute resolution. The company has introduced new editions of Pega Smart Investigate and Pega Smart Dispute, both leveraging advanced AI and automation capabilities 1

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Pega Smart Investigate: Streamlining Payment Exceptions

The new Pega Smart Investigate Enterprise Edition focuses on accelerating the resolution of payment exceptions and investigations. Key features include:

1. Expanded AI-powered automation for faster processing
2. Improved user interface for enhanced efficiency
3. End-to-end process automation
4. Support for the latest ISO 20022 standards

This solution is designed to help banks meet the G20's goal of processing cross-border payments in under an hour by 2027. It addresses challenges such as increasing global sanctions and evolving payment standards, which have strained many banks' resources 1

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Pega Smart Dispute: Tackling the Surge in Chargebacks

The next-generation Pega Smart Dispute Enterprise Edition addresses the growing problem of chargeback requests. Notable enhancements include:

1. Generative AI capabilities for creating workflows for new payment types
2. AI agents for automating various aspects of the dispute process
3. Support for a wide range of payment methods, including mobile wallets, peer-to-peer payments, and buy now pay later (BNPL) options

These improvements come at a crucial time, as research firm Datos Insights predicts a 40% increase in disputed charges in the U.S. by 2026, reaching a total of $15.4 billion 2

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AI-Driven Innovations

Both solutions incorporate Pega's GenAI Blueprint technology, allowing for rapid adaptation to new payment types and evolving industry standards. The AI-powered features include:

1. Automated creation of investigation narratives
2. Intelligent routing of cases to appropriate teams
3. Real-time fraud detection and risk assessment
4. Automated responses to common customer inquiries 1

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Industry Impact and Partnerships

Pegasystems' solutions are widely adopted in the banking sector, with 90% of the world's largest cross-border payment processors using Pega Smart Investigate. The company has collaborated with industry partners like EvonSys and integrated with Swift's new Case Management solution to enhance the efficiency of cross-border payments 1

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Ryan White, director of product management at Pega, emphasized the transformative potential of these upgrades: "By combining advanced automation with generative AI capabilities, we're helping banks transform what has traditionally been a complex, manual process into a streamlined, intelligent workflow that can dramatically reduce resolution times and improve the client experience" 1

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As banks face increasing pressure to process payments faster and more efficiently, Pegasystems' AI-powered solutions offer a promising path forward in modernizing financial operations and meeting evolving customer expectations in the digital age.