CAMBRIDGE, MA--(Marketwired - November 17, 2016) - Pegasystems Inc. (NASDAQ: PEGA), the software company empowering customer engagement at the world's leading enterprises, today announced that its Pega® Collections software solution has been recognized as a "best-in-class" solution for enterprise support in a CEB TowerGroup analyst report evaluating loan collections systems in retail banking.
The report, Loan Collections Systems (1), evaluated Pegasystems and 13 other vendors for key attributes that "track, execute, store, and analyze information when collecting delinquent loan payments from consumers and help retail banks manage third-party and consumer-facing portals that operate with collections functionally." Pega Collections was given a "best-in-class" ranking in the enterprise support category, which measures the tactical fit and strategic alignment of the software within the enterprise.
In the report, analysts observed: "Pega Collections creates a cohesive collections experience starting with collections department processing and extending out to customer communication channels." The report goes on to say, "Pega Collections has a critical foundational capability: financial institutions can build business, operational, financial, and customer engagement objectives into the system and automate the most expensive labor-based processes, reduce errors, and improve collections operations metrics."
Pega Collections guides collection agents during each customer interaction toward the optimal outcome for that specific customer while maintaining regulatory compliance. Powered by real-time analytics, the solution analyzes customer value and the likelihood the customer will be willing and able to pay their debt, helping banks optimize the collections process while delivering the best options for customers. With Pega, banks can achieve the best possible outcome in the most complex and challenging scenarios.
Quotes & Commentary:
"For financial services organizations, collections can require highly sensitive and often complicated customer interactions. The right software can help minimize losses and retain customers, while remaining compliant and controlling costs," said Mitch Mitchell, industry principal, lending, Pegasystems. "This recognition from CEB TowerGroup analysts reinforces how we are streamlining and humanizing collections processes with elevated intelligence and efficiency that ensures banks can maintain trustworthy customer relationships."
Background: Pega Collections Systems
Survey: Moments of Truth in Banking
Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega's applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega's Global 3000 customers include many of the world's most sophisticated and successful enterprises. Pega's applications, available in the cloud or on-premises, are built on its unified Pega® 7 platform, which uses visual tools to easily extend and change applications to meet clients' strategic business needs. Pega's clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at http://www.pega.com.
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CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated "best in class." CEB TowerGroup research publications consist of the opinions of CEB TowerGroup's analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
- CEB, "Loan Collections Systems," 2016