Sword FircoSoft Announces closer work relationship with Pegasystems for Shared Client
Press Release
Paris – November 4th 2009– Sword FircoSoft, the leading global provider of watchlist filtering solutions, today announced that it has developed a powerful, joint proposition with Pegasystems Inc., (NASDAQ: PEGA), the leader in Business Process Management (BPM) software solutions. The proposition has been designed to deliver significant benefits in the face of mandatory and regulatory Financial Crime Management changes.
Pegasystems and Sword FircoSoft signed the agreement to work together by providing best in breed technology for shared customer accounts. This formal agreement responds to an already proven capability with shared client in the banking sector. This closer working relationship brings a new offering to the market and new possibilities for other organisations in need of an integrated financial crimes case management and watchlist filtering solution.
“Sword FircoSoft typically generates thousands of sanctions alerts each day, which are passed on to Pegasystems who provide the case management around those alerts,” says Reetu Khosla, director of financial crime solutions, Pegasystems. “By managing the process in this way, we’re able to build efficiency and control into the case management process, enhance the internal control and ensure compliance.”
The agreement is designed to allow financial institutions the ability to integrate the alerts in a central rules driven financial crime management solution adhering to rigorous compliance and regulatory scrutiny, all in a timely manner for their customers.
John Nash, Alliance Manager of Sword FircoSoft says: “This agreement now allows us together to provide an end-to-end solution for a holistic sanctions alert programme, we’re delighted at the possibilities that this will bring for the future.”
About Pegasystems
Pegasystems (NASDAQ: PEGA), the leader in Business Process Management, provides software to drive revenue growth, productivity and agility for the world's most sophisticated organisations. Customers use our award-winning SmartBPM® suite to improve customer service, reach new markets and boost operational effectiveness. Our patented SmartBPM technology makes enterprise applications easy to build and change by directly capturing business objectives and eliminating manual programming. SmartBPM unifies business rules and processes into composite applications that leverage existing systems -- empowering businesspeople and IT staff to Build for Change®, deliver value quickly and outperform their competitors.
Pegasystems’ suite is complemented by best-practice frameworks designed for leaders in financial services, insurance, healthcare, government, life sciences, communications, manufacturing and other industries. Headquartered in Cambridge, MA, Pegasystems has offices in North America, Europe and Asia. Visit us at www.pega.com.
About Sword FircoSoft
Over 335 financial institutions in more than 55 countries (representing over 650 sites) are already benefiting from the #1 watch list filtering solution* provided by Sword FircoSoft.
Sword FircoSoft, provider of multi-alphabet ready filtering solutions, also offers best-in-class straight through processing and business intelligence solutions.
* ranking by Celent since 2003