Pega partners with Moody's to enhance financial services compliance

Pegasystems Inc. (NASDAQ: PEGA) announced a collaboration with Moody's Corporation (NYSE: MCO) to integrate entity verification data into customer lifecycle management and Know Your Customer processes for financial services organizations.

The partnership allows Pega Client Lifecycle Management clients to access Moody's entity verification data directly within the platform. According to the companies, this integration could reduce client onboarding time by up to 30% and decrease data entry errors by as much as 40%.

The collaboration combines Pega's workflow automation with Moody's real-time entity data, providing access to commercial registers and financial authorities from more than 200 countries. The system includes information on over 600 million global companies and a comprehensive risk database.

"Partnering with Pega means banks and other financial institutions can embed Moody's deep insights on entity ownership into their dynamic CLM and KYC frameworks," said Ana Meauta, managing director of channel sales partnerships at Moody's.

Marc Andrews, global managing director of industry markets at Pega, stated the integration "provides our clients even more efficiency in our CLM and KYC offerings" and enables "seamlessly enriched data insights and streamlined processes for more robust compliance."

Pega's customer lifecycle management system is used by global financial institutions to streamline client onboarding, due diligence, maintenance, and offboarding processes across multiple jurisdictions and business lines.

The information is based on a press release from Pegasystems. The estimated benefits are indicative only and actual results may vary depending on implementation and organizational context, according to the company.

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