Rabobank has installed an integrated payments investigation and customer relationship management (CRM) solution from Massachusetts-based Pegasystems, throughout its operations in the Netherlands.
The solution uses rules-driven workflows to automate investigations in the bank's cross-border and foreign payment transactions, reducing the time and resources required to process exceptions.
One of the key features that attracted Rabobank to the Pegasystems solution was its ability to track each stage of a payment transaction and pinpoint where the discrepancy has occurred. The solution will enable the bank to reduce the number of compensation claims against it and to generate claims against correspondents more effectively, says the company.
Jaap van Caspel, VP, international payment services, Rabobank, says: "We now have a seamless investigations process, improved customer service, and reduced operational risk."
Pegasystems replaced the bank's existing payments investigations system in just 12 weeks. The next phases of the project will focus on developing the functionality of the software to achieve further automation, including the automatic processing of all Swift messages.