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Pega

Looking for Automation In your Billing Inquiries Here is a Quick Solution !

Published at: October 7, 2020

Billing and payment issues act as a top driver of inquiries to customer service centers. Some issues repeat repetitively and are easier to resolve like customer profile changes or subscription cancellations. However, some inquiries are much harder to understand and handle such as an unexpected charge or first bill. Often, the greatest challenge is resolving the customer’s billing inquiries in an automated manner. 

Undeniably, poor billing practices can drive away customers. According to a research, billing issues are so widespread that as many as 77% of customers have experienced some form of a billing problem, with two-thirds stating they would consider, or definitely switch providers, when one arises. It clearly indicates poor billing practice isn’t an issue businesses can just sweep under the carpet. 

Billing Inquiry Microjourney:

A Microjourney is a single process that promptly allows business outcomes for multiple stakeholders across channels. 

World leading low code automation software Pega’s Customer Service plays a vital role in understanding the Billing inquiry Microjourney to resolve customers’ inquiries. It helps customer service representatives (CSRs) answer the most common issues customers have when calling in about their bill. CSRs can use billing inquiries to efficiently compare changes line by line for any two billing periods. 

Billing inquiry Microjournery gives important features such as previews of the next bill, explanation of taxes, summaries of billing changes, contextual information on hover, and indicators for one-time charges. All these features help you to resolve billing questions in an automated and quick way. 

How Billing inquiry Microjourney in Pega Customer Service Helps Business?

25 Customer Service Scenarios (And How to Handle Them) | Formilla Blog
  • The Billing inquiry case helps CSRs save time by bringing together all key customer billing details on a single screen. 
  • Billing inquiry is a popular call type for communication companies and approximately represents about 50% of total call volume. 
  • Companies can reduce call center AHT by using billing inquiries to overcome the friction CSRs encounter in supporting customers on billing inquiry calls.

Billing Inquiry Microjourney is available in web self-service channels

With Billing Inquiry Microjourney web self-service, customers can open a payment inquiry when they get a notification of a particular payment transaction. That notification holds the complete details of payment received by the bank. They can review the notification and identify missing data if any.  When the customer uses the bank’s self-service channel to request a payment inquiry, the probable inquiry reason is prefilled.

Crochet Technologies

If you want to resolve billing inquiries quickly in your business, you must consider the Pega Customer Service to resolve Billing Inquiry Microjourney. To implement this service successfully we at Crochet Technologies can help you. We are a Global Information Technology (IT) Services and Solutions company and offer end-to-end services from business consulting, development, design, and managed support in Pega space. 

Crochet has worked with many leading banks and financial firms. Our hands on tech teams are experts to understand the specific requirements of a business and serve them in the most relevant solutions.

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Pega

Pega Smart Investigate – A Leading Solution For Banks, Insurance & Financial Institutions

Published at: September 25, 2020

What is the Pega Smart Investigate?

Pega Smart Investigate is an automated solution to manage the complex investigation cases for Banks and financial industries. The manual work processes and disjointed business systems make an adverse impact on real-time resolution for investigations across payments, Nostro and treasury operations. This ends up with time-consuming and error-prone operations that increase costs and risk, and jeopardize the customer experience and profitability. Pega Smart Investigate addresses these challenges and conducts efficient investigation.

With the help of this solution, wholesale banks, corporate, correspondent and institutional clients can drastically enhance profit in their business and build stronger relationships with customers.

Different Implementations Of Pega Smart Investigate:

Pega Smart Investigate For Transactions:

With the help of Pega Smart Investigate for transactions, wholesale banks and small to large scale financial institutes can automate, streamline, and improve investigation and exception processing with more flexibility. They can observe significant reduction in the manual costs and errors by making the process automatic.

What Does Pega Smart Investigate For Transactions Offer?

Pega smart investigate application based on business-friendly rules offers great benefits to the banking and financial institutes, for example:

  • Radically improve operational performance
  • Drive a great rise in productivity
  • Minimize the processing costs
  • Reduce the risk of inconsistent adherence to company policies
  • Act as single processing solution across departments at large financial institutes

Pega Smart Investigate For Payment

Pega Smart Investigate for Payments installation and configuration experience, implements an industry-leading solution for the clearing house’s Real-Time Payments exceptions and investigations. Additionally, it allows financial institutions to automate investigate and service, and retain customers across all channels, on every device.

What Does Pega Smart Investigate For Payments Offer?

With the help of Pega Smart Investigate For Payment application offers:

  • Automate the process of producing reports & balancing analysis
  • Enhance customer satisfaction scores
  • Reduce duplicate processing costs
  • Improve STP for SWIFT investigations

PegaBANKING Smart Monitor

investigation copy - American Experiment

In addition to that, Pega announced the release of a new application ‘PegaBANKING Smart Monitor to advance operational insight and control across the banking and financial institutes. This application improves the business intelligence capabilities of Pega Quality & Exception Manager to develop a banking application that can perfectly match the unique requirement of operational managers.

What does PegaBANKING Smart Monitor offer?

PegaBANKING Smart Monitor delivers the following leverages to banks:

  • Proactive monitoring and reporting of exceptions to eliminate transaction errors and compliance concerns
  • Enable process improvement to improve productivity
  • A real-time view of exceptions across contemporary and legacy departmental exception handling systems.

Crochet Technologies

Crochet Technologies is a Global Information Technology (IT) Services and Solutions company. With the silver partnership of Pega, Crochet helps organizations in streamlining and automating business processes actively.  Crochet offers end-to-end services from business consulting, development, design, and managed support in Pega space. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we are supporting banks and financial institutes in automating different processes that can help them in driving great results in business.

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General

“ITS A YES” To Pega Low Code Development Platform

Published at: August 28, 2020

Until now, enterprises had to code from scratch or purchase a packaged app and then customize it as per unique business requirements. This in turn ends up with a greater cost and time-consuming development process.

With Pega Low Code Development platform you can create a standard in your business application and drastically cut down the cost of traditional app development and other related operational expenses.

What is Pega Low-Code App Development Platform:

This platform is a low-code factory approach that enables developers to develop enterprise apps with low or zero coding stress. Business users, developers, and IT can collaborate, build, and deliver brilliant applications from one comprehensive environment. It provides leverage to organizations to build apps quicker and smarter. It additionally speeds up the customization process of app development and support to the most complex enterprise use cases.

Key Features Of Pega Low Code Platform:

  • Enhance productivity in one agile environment
  • Cosmos design system
  • Higher quality application
  • Quick and powerful integration
  • Earlier business value realization
  • Greater Transparency & visibility
  • Greater Agility
  • Case management & BPM for regular flawless operations

Critical Challenges Fixed By Pega Low Code Platform:

In most general cases, the low-code application development software supports two types of users

  1. Business/power users who remain in search of the software that makes it simple to design & build simple applications.

This group of users faces the following challenges:

  • Not fluent in a programming language
  • An accurate translation of business requirements into functional capabilities
  • Ability to respond faster to changing product, market, or campaign requirements
  • Limited knowledge of governance, control, and policy management 
  1. IT departments who need software that assists develop more complex processes and integrations while support to automate the app development process. 

This group of users faces the challenges:

  • Modification of legacy systems
  • Collaboration with stakeholders timely
  • Enterprise-wide governance
  • Software toolkits that limit collaboration
  • Project overload/restrictions on IT staff availability

Pega low-code app development platform provides a simplified, graphical UI commonly supported from limited functions and basic apps to complex enterprise app development. On the other hand, Pega low-code app factory strategy leverages visual tools that let business experts build the applications faster and without writing code. It offers governance frameworks to leverage, reuse, and collaborate with IT in order to assure quality, security, and sustainability. 

Benefits Of Using Pega Low Code Platform:

  • Helps organizations to build agile applications quickly
  • Reduce 1/10 app development cost
  • Speed up x10 times the app development process
  • Enhance productivity to build more apps in less time
  • Better customer experience
  • Efficient risk management & governance
  • Faster digital transformation
  • Give end-to-end developer experience

Success Stories:

An American leading  scientific research organization Air Force Research Laboratory has built a powerful platform with the help of Pega Low Code capabilities that help them to improve data quality for empowered decision-making.

Siemens AG is a German multinational conglomerate company that has created a new Global Master Data Management solution with the support of the Pega Low Code. This solution helps them in reducing 65% of customer onboarding time and automating data validated at initial data entry points. 

With Pega’s low-code platform, Optum, a part of UnitedHealth Group, was able to move the lead business architect to the business side. It drastically enhances the delivery due to subject matter expertise. By connecting data across the enterprise, Optum also designed a chargeback model to track spending down to a clinician-level with Pega assistance.

Crochet Technologies

Crochet Technologies is a Global Information Technology (IT) Services and Solutions company. With the silver partnership of Pega, Crochet helps organizations in streamlining and automating business processes.  Crochet offers end-to-end services from business consulting, development, design, and managed support in Pega space. With Crochet’s deep business acumen, world-class project delivery and leadership capabilities, we are supporting companies in building the most powerful application quicker and with low code capabilities. These applications help them to drive powerful outcomes in business.

Categories
General

American Bank FINED by Regulator for Lapses in Digital Transformation

Published at: August 25, 2020

Digital Transformation is the use of new, fast and frequently changing digital technology utilizing process, people and automation to solve business problems. It is about transforming processes that were non digital or manual to digital processes to enhance business performance through DATA. However, often digital transformation when not implemented correctly could lead to potential disruption in business and result in playing puppets in the claws of the Regulator.

This is exactly what happened on August 6, 2020 when the Regulator Office of the Comptroller of the Currency (OCC) fined an American Bank with multi-million dollars as penalty for failure to implement cyber security and digital transformation efficiently before migrating their IT to the cloud environment.

Data in excess of 100 MN individuals in the US & almost 6 MN individuals in Canada was exposed to a security breach by an unauthorised access as admitted by the Bank. Millions of American Dollars & the ugly encounter with the regulator for violating strict data privacy laws led to the organisations reputation at stake, all which could have been avoided.

There are innumerous automation product softwares available just a click away at the disposal of the organisational leaders. These software not only mitigate the risks by identifying, assessing, monitoring and generating threats alerts but also provides suggestions to further tighten and improvise policies, processes, and controls.

 

Crochet Technologies (www.crochetech.com)  is a reputed partner with PEGA & APPIAN BPM Softwares who believes in creating “Cloud First” mentalities. They have unmatched capabilities and claim more than 50 years of combined BPM experience. With their thorough understanding of the regulatory process, it’s not a surprise to see most of their clients in the Banking & Financial Services Industry trusting them with their BPM needs. Having historical heritage partnerships with Pegasystems who has great engineering expertise, Crochet has immense consulting experience helping oransationsations evaluate their cloud needs and then recommend best practises to migrate in a Cloud based environment to meet their digital transformation goals. Carefully managing the process risk capabilities, mitigating regulatory operational risks & implementing best practices timely makes them different from the crowd in the Cloud.