Arachnys Partners with Pegasystems to Improve Client Lifecycle Management Process
Strategic partnership delivers end-to-end onboarding solution for corporate and investment banks
NEW YORK, NY / April 30, 2019 / Arachnys, the leader in Customer Risk Intelligence solutions for Know Your Customer (KYC), Anti Money Laundering (AML) and Enterprise Due Diligence (EDD), have entered into a technology partnership with Pegasystems Inc. (PEGA), the software company empowering digital transformation at the world’s leading enterprises. By unifying Pega KYC and Pega CLM with Arachnys’ Customer Risk Intelligence platform, financial institutions can further improve risk mitigation and efficiency in their overall onboarding and KYC processes.This partnership will enable customers of Pega and Arachnys to consume Arachnys content within Pega CLM and Pega KYC solutions. Clients can further streamline their due diligence processes and ensure all relevant data is in one place with a single view of the new customer, driving further digitization and efficiency.
”Today’s financial institutions strive to further simplify the complexity of client onboarding while meeting complex regulatory requirements and mitigating risk,” said Reetu Khosla, industry market leader, CLM & KYC banking technology, Pegasystems. ”By partnering with Arachnys, we are enabling banks to further digitize client onboarding through smart data management – our clients can drive efficiency through the automation of due diligence data within the client onboarding and KYC lifecycle.”
”We are thrilled to partner with Pegasystems and offer the market a seamless solution that accelerates the ability to validate and enhance customer, and UBO data, for rapid onboarding and revenue acquisition,” said Ed Sander, President of Arachnys. ”Increasingly, financial institutions are adopting cloud platforms that leverage advanced technologies, such as our joint offering with Pegasystems, to support business growth, while addressing evolving compliance needs.”
Named the industry category leader in CLM and KYC applications year over year, most recently by leading independent industry risk technology analyst firm Chartis, Pega CLM and Pega KYC provide large complex financial institutions with pre-defined industry best practices, including over 30,000 KYC rules for multi-jurisdiction and multi-product onboarding. Pega is the only vendor that provides a cross line-of-business solution – including corporate, institutional, wealth, and retail – and globally scalable CLM and KYC applications with inherent digital process automation, rules, process, case management, AI, and robotics. These industry-leading applications can be deployed in as little as three months to drive real outcomes from front to back office.
Arachnys is a leader in cloud solutions for assessing financial crime customer risk, ensuring compliance for new regulatory CDD, KYC and EDD requirements and accelerating topline revenue. Financial institutions around the world rely on Arachnys’ financial crime risk assessment platform, machine learning algorithms and data harnessing technology to standardize and improve efficiency of compliance processes, reduce onboarding costs and improve the customer experience. Three of the world’s top 10 financial institutions and four of the world’s top 10 accountancy companies utilize Arachnys solutions for their financial crime risk assessment needs. Celent, a leading financial services research and advisory firm, recently recognized Arachnys for its innovative Robotic Process Automation solution for KYC/EDD.
Arachnys is the registered trademark of Arachnys Information Services, headquartered in London with offices in New York. The Arachnys logos and product brands are trademarks/service marks of Arachnys. For more information please visit www.arachnys.com.
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David is a former investigator who has advised banks, law firms and leading multinationals on corruption, fraud, money-laundering and other risks. He is a regular speaker on the use of technology for collection, analysis and reporting in a KYC/AML context. He graduated from Oxford University.