Investigation Image by Tumisu from PixabayPegasystems Inc. has launched the Pega Financial Crime and Alerts Investigation Management Accelerator. This new solution is a scalable, unified, end-to-end accelerator. This enables financial institutions to better orchestrate and automate the intake, automation and management of any investigation. The solution supports investigations of all incidents, including fraud, sanctions, AML, and transactional issues.

Pegasystems has built the new solution on its intelligent automation platform and existing capabilities around case management. It has also embedded its generative AI-powered capabilities to further enhance the platform.

Financial institutions can struggle to aggregate client risks at the entity level across their business. The challenge is that silos, whether by business lines or regions, often inhibit the detection of risks. Furthermore, where risks are identified and investigated, teams often duplicate efforts. As they are each unaware of concerns in other areas of the business. As firms struggle with false positives and the growing sophistication of criminals that take advantage of these silos, this new solution aims to assist.

The Pegasystems solution ensures that there is a central point of knowledge for all investigations. This means that not only is the business aware of any crossover between investigations, but teams from different entities can collaborate and process the investigation to a conclusion faster.

Jason Grasso, financial services solutions global leader, Pega
Jason Grasso, financial services solutions global leader, Pega

Jason Grasso, financial services solutions global leader, Pega, commented, “With financial crime alerts growing exponentially in complexity and in volume due to global events, financial institutions need a better way to consolidate and streamline their investigation processes to manage risk and cost. The launch of Pega Financial Crime and Alerts Investigation Management helps financial institutions better orchestrate, automate, and triage investigations end to end, providing their teams with a 360-degree customer view and driving better investigative outcomes.”

What does Pega FCAIM do?

The new solution can help investigation teams perform several tasks.

It provides a holistic approach to alert management. It will optimize investigative risk decisioning and maximize operational efficiency by consolidating alert intake from multiple detection sources, including AML, KYC, client due diligence, fraud, sanctions, and transaction monitoring, onto a single case management platform.

Transform the triage process with a smart approach to alerts. Layering intelligent automation, artificial intelligence, and machine learning onto existing business processes and investigative workflows. The solution classifies and prioritizes a high volume of alerts while integrating with best-of-breed AI/ML providers. It can also improve secondary alert scoring. Each alert is checked for a duplicate. Then either flagged as redundant or used to enrich an existing alert by merging. The platform enriches the alert with other information, then identifies the best team to manage the case using skill-based routing.

It will bring together internal and external data to automate investigative research processes. This feature enables investigators to focus on outcomes rather than repetitive manual tasks. Investigators are guided step by step through the process. Ensuring that they are carried out in a compliant and comprehensive way.

The automation built into the solution helps enrich the information within every investigation. By collating data in an automated way and eliminating manual work. The system helps with reporting tasks, such as the generation of Suspicious Activity Reports (SAR). This is where the generative AI capabilities of Pega enable the solution to collate and summarise information to create a draft report, saving time for investigators.

The solution responds to change rapidly and ensures compliance by enforcing best practices, regulatory requirements, principles, and internal policies consistently across systems, geographies, and lines of business. Ultimately, it will help deliver an agile client risk management, one that is seamlessly adaptive to both outcome-based (OBA) and risk-based (RBA) approaches.

The system is also highly configurable and has pre-built templates for investigations. Enabling a rapid time to value and the ability to modify templates to meet their exact requirement. The solution is also integrated with third-party existing alert monitoring and detection systems. As well as Pega’s Know Your Customer and Client Lifecycle Management solutions.


The new solution increases automation, collaboration and flexibility for financial institutions. Pegasystems also believes that it can make a significant benefit across key metrics.

It notes the solution delivers:

  • 78% exceptions resolved via STP
  • -70% in average number of touches
  • +30% same-day resolution rate
  • +50% operational efficiency, with increasing volumes
  • -75% time for FinCrime investigations

The solution is available to download now from the Pega Marketplace

Enterprise Times: What does this mean

Pega has developed a wide range of solutions for the Financial Services industry. These include lending, customer service, onboarding and KYC, Bank operations, Payment exceptions and customer next best action. The Pega Financial Crime and Alerts Investigation Management Accelerator adds another to that list. This is one that meets an increasingly important need.

In a recently published eBook, “Holistic Fraud and FinCrime Management: Now is the Time”, the authors note the benefits of a unified approach for alert management and the management of investigations. Fraud is a huge problem, with the IMF estimating that the money laundered globally in one year is 2 – 5% of global GDP, of which 1 – 2 % only is seized. As banks have found, even inadvertently, being part of the laundering process can have serious consequences.

This new solution will aim to mitigate the risk, shortening the time and efficiency of detecting illegal activity within the organisation.


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