Pegasystems Inc. has integrated cutting-edge agentic AI functionality in the latest version of Pega Client Lifecycle Management™ (CLM) and claims to offer the most comprehensive solution for automating the client onboard process and accompanying regulatory requirements to market today. The new offering is targeted at financial services firms operating in today’s complex and shifting regulatory landscape and will employ GenAI automation for Know Your Customer (KYC), due diligence, and risk processes globally.
Compliance and onboarding operations remain some of the most labor-intensive business and operational processes within banking and finance domains. According to research, financial institutions allocate considerable man-hours to performing KYC and anti-money laundering operations, while overall expenditure on global compliance rises dramatically. Even then, traditional methods often find it difficult to provide corresponding speed, precision, and flexibility to keep up with regulatory and customer demands.
This latest offering from Pega CLM solves these problems by placing predictable and reliable intelligent agents across the entire client life cycle. This solution will soon make due diligence faster and more efficient by combining all GenAI-powered document routing capabilities, agentic screenings, outreach, and entity verification into one integrated system. This will help clients make their operations cheaper and their onboarding processes smoother.
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Pega CLM brings with it many improvements that are meant to modernize the way compliance activities are carried out. Automating document verification and smart screening shortens the processing and review time, while AI-powered verification eliminates errors and compliance shortcomings. Predictive AI agents also allow compliance analysts to make more confident and standardized decisions with immediate context-driven insights. On the other hand, self-service processes also enable customers to perform self-service processing without involving employees.
These are complemented by new abilities such as coaching agents enhanced by Pega Coach, knowledge agents using Pega Knowledge Buddy™, and agentic screening that automatically searches various data sources and automatically creates Requests for Information. Document processing using GenAI is able to validate data in seconds, and real-time Moody’s entity validation automatically synchronizes global updates associated with cases. GenAI insights and summaries automatically provide immediate risk and compliance status information of customers. Pega‘s agentic AI foundation is used to build the CLM solution, which is more focused on bringing greater transparency, governance, and human-to-AI collaboration to CLM. Pega CLM is able to transform the reactive expense of compliance into a proactive competitive advantage because it is able to orchestrate the correct type of intelligence at the correct instant.
