JPMorgan Chase has renewed its licence for Massachusetts-based Pegasystems' cheques exceptions processing product and funds transfer software.
The software is currently used across JPMorgan's Treasury and Securities Services and Chase Financial Services divisions. The bank also uses the technology to support service delivery in its lockbox, electronic funds transfer services and foreign exchange businesses.
Pegasystems' funds transfer software supports both foreign and domestic operations and enalbes the bank to automate investigations and exceptions processing.
The bank also uses PegaCheck Smart Adjust, a rules-based, image-enabled system that automates cheque exceptions processing. The system features pre-packaged business processes that handle nearly all error types. The vendor says the product can help banks streamline implementation, increase productivity and respond to changing business conditions.
JPMorgan Chase has been using Pegasystems software for more than 18 years.