Accurate Software, a supplier of operational risk management solutions and Pegasystems Inc, experts in business process automation and customer service announced they have signed an agreement to form an alliance to help enhance customer service with an integrated reconciliation and investigations processing solution for global financial services organisations. Under the terms of the agreement, the companies will participate in co-marketing and sales efforts.
The alliance combines Accurate’s real-time reconciliation solution with Pegasystems’ integrated investigations suite to create a bi-directional, fully integrated solution. The solution connects customer service activity with back office processes, a valuable capability from two of the industries best-of-breed financial services vendors.
The strategic alliance will help enable financial institutions to benefit from the depth of automation in Pegasystems’ integrated investigations software coupled with the speed and accuracy of the Accurate reconciliation solution. Together, the combined offering will enable customers to help improve the straight through processing efficiency across both the reconciliation process and the management of investigations, to enhance customer service. The combined solution will also be utilised in the industry’s drive towards T+1 by helping to reduce the time to handle both the reconciliation of transactions and the time to resolve the investigations.
“There are several well-developed reconciliation packages on the market, but it was the rich functionality and scalability of Accurate’s offering which set it apart from the rest. Its generic, rules based matching engine makes Accurate’s offering suitable for multiple types of reconciliation and its speed and functionality means it can be utilised in financial institutions of various sizes,” said Keith Hawker, Vice President of Strategic Partnerships, Pegasystems. “By adding Accurate’s functionality and scalability to our integrated investigations solution, we will be able to offer financial services organisations the opportunity to help reduce risk in high volume, high value transactions whilst at the same time assisting in the enhancement of overall customer service quality.”
Philip Hall, Joint Managing Director, Accurate Software commented: “Pegasystems is highly respected in the financial services industry and has an established presence in many financial organisations. This is an exciting opportunity for us to work together to deliver a key competitive advantage for our clients.”