Pega Smart Investigate Agentic Automation promises banks faster and cheaper handling of payment exceptions. These are cases in which payment is not or cannot be made. The updated version primarily adds extra generative AI capabilities to the existing offering. This should lead to better automated handling of cases requiring investigation.
Many banks still rely on manual processes to handle cases where payment has not been made. This is despite the growing complexity of the market. Recent tariff changes have caused operational challenges. There are sudden spikes in cross-border payments and new patterns in cash flows due to shifting trade flows between countries.
According to Boston Consulting Group, the global payments market will grow to $3.3 trillion by 2031. With stricter sanctions and controls and new regulations, payment exceptions continue to increase. This calls for a new solution. Or rather, not a new solution in this case, but an updated version of existing software, Pega Smart Investigate.
MCP support
An important aspect of Pega Smart Investigate Agentic Automation is its support for MCP (Model Context Protocol). This allows Pega processes to engage third-party agents and vice versa. It enables existing environments and systems to be integrated. The solution combines non-deterministic, generative AI with deterministic, rule-based intelligence. This has been in the Pega platform that banks have been using for decades.
SWIFT ISO 20022 and agentic AI
According to Pega, Pega Smart Investigate Agentic Automation stands out by offering native support for the latest SWIFT ISO 20022 standards. In addition, this new version includes agentic AI in the solution. This builds on the addition of generative AI in previous versions of the software. The solution uses Pega’s Agentic Process Fabric. It selects workflows and agents based on incoming requests.
Quickly set up workflows with Pega Blueprint
Ultimately, much of what is known as agentic AI is largely about optimising workflows. According to Pega, the Pega Blueprint design agent enables banks to quickly create these types of workflows for new payment types. They can do this by describing the process or uploading documentation.
For SWIFT-based messages, Pega Smart Investigate Agentic Automation automatically analyzes the intent of both traditional MT formats and new MX formats. It generates activity overviews and opens new cases. Furthermore, it offers solution guidelines for complex situations. All of this is intended to speed up the investigation of payment exceptions.
Also listen to our podcast with Pega CTO Don Schuerman:
Agentic AI is about much more than “sprinkling LLM fairy dust”