A BROKERAGE FIRM AUTOMATED AND SPED UP ITS ACCOUNT PROCESSING WITH PEGA

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CLIENT

 

The client is one of the world’s largest brokerage and banking companies, which serves 7.9 million client brokerage accounts and has US$1.65 trillion in assets. Given its vast operations, the client needed a way to streamline its processes and optimize its services.

BUSINESS CHALLENGE

 

The client faced a few challenges and needed a system that could:

• Manage highly-complex workflows for various products

• Increase productivity for the cumbersome manual process of opening and maintaining new accounts

• Manage the acquisition of another organization and integration of its enterprise software platform with client’s systems

• Provide a clear migration path from legacy systems

• Drive innovative process optimization

SOLUTION

 

To meet the client’s needs, we:

• Implemented multi-line, complex, processes on multiple products in a common Pega platform

• Developed dynamic workflows and prioritized them based on user roles

• Implemented a high-end, vendor configurable, layout based on user roles

• Provided an external content management system to store high volumes of documents

• Integrated with complex systems to expose/consume around 30 services

• Implemented advanced report generation features where privilege had been given to the user to customize and generate reports

• Implemented Pega’s best practices to ‘build for change’

BENEFITS

With the Pega platform, the client could now:

• Roll out new products while maintaining business continuity with enhanced workflow software without re-training the back-end users

• Improve service level agreements as Pega allows tracking of the work-in-progress, whereas the legacy system did not

• Benefit from inbuilt features like exporting and reporting through the Pega interface on the work that was created with the legacy system

• Automate the entire manual process of opening accounts

• Reduce any errors in the process to a minimum and maintain an accurate history of any change to the workflow