Encompass Corporation, a fast-growing provider of intelligently automated Know Your Customer (KYC) solutions, today announces a partnership with Pegasystems Inc. (PEGA), the software company empowering digital transformation at the world's leading...
Encompass Corporation, a fast-growing provider of intelligently automated Know Your Customer (KYC) solutions, today announces a partnership with Pegasystems Inc. (PEGA), the software company empowering digital transformation at the world's leading enterprises.
The partnership will enable mutual clients to seamlessly access Encompass data within Pega Know Your Customer™ (KYC) and Pega Client Lifecycle Management™ (CLM) applications to streamline customer onboarding and enhance the customer experience.
Automation from Encompass provides the same processes a human analyst performs but with greater accuracy, consistency, and speed. This has been proven to reduce the time spent on these critical KYC activities by 80 percent.
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● KYC Discovery - In line with an organization’s existing KYC policies, Encompass automatically unwraps corporate ownership structures, calculates Ultimate Beneficial Ownership and gathers relevant source documentation from corporate registers, stock exchanges, and regulatory listings to provide the full picture of a customer fast.
● Watchlist Screening - Using the ownership structure created during the discovery process, Encompass continues to follow the relevant KYC policy to screen individuals and entities for regulatory and reputational risk, such as Politically Exposed Persons (PEPs), sanctions and adverse media, using pre-selected, premium risk data.
● Adverse Media - With integrations to global premium news databases, Encompass can perform searches on unstructured adverse media using an organization’s specific keywords. Automation drives consistency across Adverse Media searches and focuses analysts on the most relevant results for improved insight into risk and productivity.
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Named the industry category leader in CLM and KYC applications year over year, most recently by leading independent industry risk technology analyst firm Chartis, Pega CLM and Pega KYC provide large complex financial institutions with pre-defined industry best practices, including over 30,000 KYC rules for multi-jurisdiction and multi-product onboarding. Pega provides a cross line-of-business solution - including corporate, institutional, wealth, and retail - and globally scalable CLM and KYC applications with inherent digital process automation, rules, process, case management, Artificial Intelligence (AI) and robotics. These industry-leading applications can be deployed in as little as three months to drive real outcomes from front to back office.
“We are excited about the benefits that Encompass can bring to Pega’s clients, both present and future, through this partnership,” said Nick Ford, Head of Partnerships at Encompass. “This partnership allows Pega customers to automate even more of the KYC process within Pega CLM. A typical corporate profile can be unwrapped, with a visual ownership chart and relevant parties screened, as well as supporting documentation from premium and primary sources collated, in just a few minutes.”
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''Financial institutions need to simplify the complexity of client onboarding while meeting growing regulatory requirements and mitigating risk,'' said Eric Musser, vice president, partner ecosystems, Pegasystems. ''By partnering with Encompass, we are enabling banks to further digitize client onboarding through smart data management, helping our clients drive efficiency through the automation of due diligence data within the client onboarding and KYC lifecycle.''
Once the integration is complete the connector to Encompass will be available via Pega Exchange/Marketplace, a curated list of components and applications to enhance Pega solutions.
Pega is a Business Procedure Management tool. It is advanced on Java as well as uses OOP also java concepts. In addition the big benefit is you don’t have to form the system from the graze like any conventional program design. It is flattering...
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A property in Pega specifies the pattern and visual displays,of data in our applications. Every property can be related to value and has a type, and mode. The property mode like Page List or Single Value specifies the arrangement, that is...
A property in Pega specifies the pattern and visual displays,of data in our applications. Every property can be related to value and has a type, and mode.
The property mode like Page List or Single Value specifies the arrangement, that is implemented to save the property value. The property type like Date or Text specifies, the pattern and acceptable characters in the property value.
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Properties of Property in Pega:
Pega 7 Property has one of eleven modes, organized in three sets. The General and Behavior tab designs change, based on the mode and the type of table field selected.
With the help of the ‘Property Mode’ option, we can select the mode. The Pega property mode finds how the system indicates, the property data. Among eleven modes, three are page based modes, three are string-based and the other five are modes executed with Java objects.
The presentation of the ‘General’ and ‘Behavior’ tabs rely on the mode selected.
Below the different modes of the property.
Single Value – Choose this, to make a Pega 7 property that has one text string value.
Value List – To make the Pega property that can hold an organized list, of single values.
Value Group – To make the Pega 7 property that can hold an unorganized set, of single values.
Page – To design a property that can hold an enclosed page as its value.
Page List – To design a property that can hold an organized list,of enclosed pages.
Page Group – To design a property that can hold an unorganized set,of enclosed pages.
Java Object – Choose this, to represent that it has a connection to an instance of a Java Object on the clipboard.
Java Object List – Represents that it can hold an array of connections, to instances of Java Objects.
Java Object Group – Represents that it can hold an unorganized set, of connections to instances of Java Objects.
Java Property – Choose this, to represent that it indicates, one property of a Java Class that specifies an external Java Object.
Java Property List- Choose this, to represent that it indicates an array property of a java class, that specifies an external java object.
Choosing Property Type:
The property type discovers the type of data that property values indicate, and can change the pattern and acceptable characters in the value.
Be careful while selecting the property type. Once we save a property, we cannot change its type except for a few special cases. Below the
Text – If we want the property to have text strings that can hold line feeds, carriage returns, and tabs, then choose text.
Identifier – If we want the property to have a text string which doesn't carry tab, double quote, carriage return or line break characters. Then choose an Identifier.
Password – To make the property to have a password, choose a password.
Integer – To make the property to have an integer, then choose Integer.
Double – To make the property to have a 64 – bit floating point value, choose Double.
Decimal – To make the Pega 7 property to have a decimal number, choose Decimal.
DateTime – Choose DateTime to make the property to have a Coordinated Universal Time value. Actually, the value is similar to Greenwich Mean Time, which is utilized for the synchronization of computers on the web.
Date – Choose the Date to make the property to have a calendar date. The data is saved as an eight-digit text value, in the YYYYMMDD pattern.
For instance, 20191223 indicates December 23, 2019. It is not necessary for users to enter Date values in this pattern, as different easy options patterns are available.
TimeOfDay – Use this, if you want to make the property to have a time of the day up to seconds, not related to a time zone.Inside, the TimeOfDay value is saved as six digits in HHMMSS format, In which every two digits are for the hour, minutes and seconds respectively.
TrueFalse – Choose this, to make the property to have values indicating false or true.
TextEncrypted – Choose text encrypted type, if we want to hide the value.
In this article, I have shared the property modes and Property types in Pega. Follow my articles, to get updates on Page modes in Pega 7.