Pega Smart Investigate Agentic Automation and payments
The Payments division is a carefully structured organization comprising front, middle, and back-office teams, that provides essential services including cash management, liquidity management, and foreign exchange currency trading. This topic explores how Pega Smart Investigate™ Agentic Automation (SIAA) addresses the challenges in wholesale banking operations.
Pega Smart Investigate Agentic Automation
SIAA is an industry-leading solution for payment exception management, designed to streamline payment investigations and processes. The advantages offered by SIAA are:
- Comprehensive Swift support
- Automated work allocation to dedicated specialists
- Intelligent workflow automation
SIAA maintains up-to-date compatibility with Swift messaging changes (and has for over 40 years), significantly reducing the cost of ownership by eliminating the need for dedicated teams to manage these updates. This makes SIAA the only exceptions and investigations platform in the market that stays ahead of industry developments and makes all required Swift E&I handling messages available well ahead of mandatory adoption dates. The solution connects seamlessly with transaction data systems of record, enabling back-office specialists to efficiently resolve payment exceptions. Smart Investigate Agentic Automation efficiently handles both inbound and outbound communications, managing Swift messages, emails, faxes, and financial adjustments.
Additionally, SIAA automates both the creation and resolution of payment exception cases, and improves straight-through processing rates, achieving efficiency rates from 30% to as high as 94%.
Exception types handled by SIAA include:
- Request to stop/recall a payment
- Payment adjustments and interest/compensation management
- Payment tracing/creditor claims non-receipt
- Requests for information where more information is required to apply a payment or resolve a sanctions or regulatory blocks
- Reconciliation exceptions
- Management of correspondent bank charge claims
The end-to-end process management features of SIAA, combined with lower ownership costs compared to building in-house solutions, make it an attractive option for financial service providers looking to modernize their operations and drive out inefficiencies. Modernization is becoming particularly relevant as the industry prepares for Swift messaging changes toward ISO 20022 or API connectivity, SIAA offers banks a reliable path toward digital transformation while maintaining operational excellence.
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