Pegasystems Inc. (NASDAQ: PEGA) has introduced Pega Smart Investigate Agentic Automation, a new edition of its payment exceptions and investigations solution. This offering integrates native support for the latest SWIFT ISO 20022 standards and embedded agentic AI, aiming to accelerate case resolution and reduce operational costs for financial institutions.
The new solution leverages Pega’s established expertise in payment processing, delivering the flexibility to implement agentic automation while maintaining rules-based workflows. It is designed to transform payment investigations by automating manual processes and increasing straight-through processing of exceptions.
Financial institutions are currently navigating a complex environment characterized by increasing payment exception volumes, heightened sanctions scrutiny, and evolving regulatory demands. Changes in global trade patterns and tariffs have led to spikes in cross-border payment volumes and shifts in routing. Despite the global payments market being projected to reach $3.3 trillion by 2031, many banks still rely on manual exception management processes, as noted by Boston Consulting Group.
Pega Smart Investigate Agentic Automation, available now, combines agentic automation with existing trusted workflows to streamline complex exception processes. This is intended to boost employee productivity, lower operational expenditures, and improve the overall client experience.
The new features include support for emerging payment types, which financial institutions can quickly integrate using the Pega Blueprint™ design agent by describing the process or uploading documentation. The solution also provides resolution guidance for SWIFT-based messages, including new MX formats, by generating activity summaries, opening cases, and offering guidance for complex scenarios. Additionally, Pega AI agents can process advanced email requests related to payment inquiries, problems, or changes without human intervention.
For orchestration, Pega Agentic Process Fabric™ can select appropriate workflows and agents based on requests, orchestrating multiple actions in parallel. The solution also supports interoperability with third-party agents, aligning with the emerging MCP and ACA agentic interoperability standard, allowing integration with existing investments and accelerating further automation efforts.
Pega’s strategy combines generative AI, AI agents, and deterministic rules-based processing. A three-tiered case architecture manages dispatch, orchestration, and resolution, promoting re-usability and reducing redundant work. The solution also maintains compliance with SWIFT standards, including early adoption support for SWIFT’s new case management service and the new camt.110 and camt.111 formats. Its comprehensive MT/MX message interoperability facilitates seamless communication with correspondent banks, irrespective of their SWIFT standard implementation.
Steve Morgan, industry market leader, financial services, Pega, commented on the current challenges, stating, “Global banks are facing a perfect storm of a surging volume of payment exceptions, increasing sanctions complexity, and unprecedented payment pattern changes – all while being asked to do more with less.” He added that Pega Smart Investigate Agentic Automation enhances the solution banks have relied on for decades with intelligent agents that emulate the capabilities of human investigators at scale, aiming to help financial institutions accelerate operations and deliver improved client service by augmenting human expertise with advanced AI agents.
The product is scheduled for demonstration at the Sibos financial services conference in Frankfurt, Germany, beginning September 29.
