Pega Client Lifecycle

Management for Financial

Services
PRODUCT OVERVIEW GUIDE
Version 8.4
 © 2020
Pegasystems Inc., Cambridge, MA
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Pega Client Lifecycle Management for Financial Services

Document: Product Overview Guide

Software Version: 8.4

Updated: March 2020

[2]
[3]
CONTENTS
Pega Client Lifecycle Management for Financial Services Features........................................................... 7
Manager Tools ................................................................................................................................................. 8
Operational structure landing page ........................................................................................................ 8
Product Matrix ..................................................................................................................................... 8
Comprehensive audit trail and data tracking .................................................................................... 8
Reporting and analytics ....................................................................................................................... 9
Role-based access ................................................................................................................................ 9
Service level management .................................................................................................................. 9
Event-driven architecture .................................................................................................................... 9
Customer Risk Assessment ...................................................................................................................... 9
Risk Override ........................................................................................................................................ 9
Case navigation .................................................................................................................................. 10
Party categorization, AML CDD profiling and operationalization ................................................... 10
Customer Master Profile ........................................................................................................................ 10
Systems and environment .................................................................................................................................. 10
Business rules .................................................................................................................................... 10
Case management ............................................................................................................................. 11
Visual workflow .................................................................................................................................. 11
Legacy system integration................................................................................................................. 11
Pega live data ........................................................................................................................................... 11
Situational Layer Cake ............................................................................................................................ 12
Multiple language packs* .................................................................................................................. 12
Deployment options ...................................................................................................................................... 12
Cloud Choice and Pega Cloud ................................................................................................................ 12

Pega Client Lifecycle Management customer journeys and workflows ................................................ 13

Example Customer Journeys ......................................................................................................................... 13
Example 1: Onboard Customer – New parent entity ......................................................................... 13
Example 2: Maintain Business relationship – Add Product or location ......................................... 14
Example 3: Customer Review – Customer periodic review............................................................. 14
Standard case types ...................................................................................................................................... 15
Case Designer overview of main onboarding case ..................................................................................... 17
Built-in stages and customized steps within them ...................................................................................... 17
Capture stage – Retail Banking .............................................................................................................. 19
Define customer journey ............................................................................................................ 19
Pre-onboarding questionnaire (Web Self-Service channel only) .............................................. 19

[4]
 Select products .................................................................................................................................. 19
eAuthentication (Web Self-Service channel only) ......................................................................... 19
Complete customer details .............................................................................................................. 19
Personalize ................................................................................................................................... 19
Incorporate third party data ............................................................................................................ 19
Collect documents (if required) .................................................................................................. 19
Review submission ...................................................................................................................... 19
Confirmation ................................................................................................................................ 19
Enrich stage - Retail Banking .................................................................................................................. 20
Back office review ........................................................................................................................ 20
Produce welcome pack ............................................................................................................... 20
Business approval cases .................................................................................................................. 20
Customer synchronization .......................................................................................................... 20
Capture stage – Corporate and Investment Banking ......................................................................... 20
Define customer journey ............................................................................................................ 20
Collect basic customer information............................................................................................ 20
Add products ................................................................................................................................ 20
Related parties ............................................................................................................................. 21
Review required documents ............................................................................................................ 21
Business case ............................................................................................................................... 21
Resolve duplicates ....................................................................................................................... 21
Approve and prioritize ................................................................................................................. 21
Stakeholder notifications ............................................................................................................ 21
Enrich stage – Corporate and Investment Banking ............................................................................ 21
Incorporate third-party data ....................................................................................................... 21
Produce welcome pack ............................................................................................................... 22
eScreening.......................................................................................................................................... 22
Enrich data for due diligence ...................................................................................................... 22
Monitor document collection...................................................................................................... 22
Business approval cases .................................................................................................................. 23
Customer synchronization .......................................................................................................... 23
Due diligence stage ................................................................................................................................. 23
Pega Know Your Customer due diligence cases ........................................................................ 23
Regulatory due diligence cases................................................................................................... 23

[5]
 Tax due diligence cases ............................................................................................................... 23
Credit due diligence cases ........................................................................................................... 24
Legal due diligence cases ............................................................................................................ 24
Fulfillment stage ...................................................................................................................................... 24
Abandon Journey stage ..................................................................................................................... 24

Roles, portals, and dashboards in Pega Client Lifecycle Management .................................................. 25

Client Lifecycle management roles ............................................................................................................... 25
Client lifecycle management portals ............................................................................................................ 26
Relationship manager dashboard .................................................................................................... 26
Branch Portal (Express onboarding for Retail Banking) ..................................................................... 27
Web Self-Service (Express onboarding for Retail Banking) ............................................................. 28
Case search ........................................................................................................................................ 28
Case overview .................................................................................................................................... 29
Customer summaries ........................................................................................................................ 30
Customer search ................................................................................................................................ 31

Primary data entities ........................................................................................................................................ 33

Further reading............................................................................................................................................. 35

[6]
Pega Client Lifecycle Management for
Financial Services Features
The application provides a rich set of features designed to enhance the customer experience,
improve user productivity and increase customer satisfaction. This section describes key
capabilities and features of the application that you can use as-is, or extend to meet your business
needs.
This Pega® Client Lifecycle Management for Financial Services Product Overview describes the default
features and benefits, cases, data model, and various preconfigured roles and portals available in
Pega Client Lifecycle Management for Financial Services.
The Pega Client Lifecycle Management for Financial Services solution consists of a layer of
common components that are applicable for onboarding activities across all market segments of
the Financial Services industry. These common components form journeys for different types of
customers, such as individuals or organizations. Pega has customized the application to meet the
specific needs of both Corporate and Investment Banking and Retail Banking markets segments.
Retail Banking may be referred to as Consumer Banking or Personal Banking, depending on the
geographic region in which they operate. The Pega Client Lifecycle Management for Financial
Services solution currently supports specialized customer journeys for Corporate and Investment
Banking (CIB) and Retail Banking segments. The following diagram illustrates how the features of
the Pega applications that Pega bundles together into Pega Client Lifecycle Management for
Financial Services interact to provide organizations with a robust set of rules, analytics, and
planning tools to streamline onboarding for financial services institutions.

Pega Client Lifecycle Management for Financial Services - Product Overview 7

Manager Tools
Operational structure landing page
Pega Client Lifecycle Management for Financial Services provides an easy-to-use tool to define the
operational taxonomy of financial services institutions. Configuring the taxonomy enables you to
build a full operational chart with the necessary access groups, work queues, and departments to
drive, route, and manage work.

Product Matrix
A matrix of available products and pertinent related information is used to offer products. The
availability of products on offer is governed by both the user’s location in the operational structure
and the type of customer to be onboarded (such as Organization, Individual, or Fund).

Comprehensive audit trail and data tracking

Pega Client Lifecycle Management for Financial Services automatically tracks operator actions
during their work. Case narratives and case histories provide clear insight into which actions were
taken as part of the customer journey. When configured, any item of data can be tracked,

Pega Client Lifecycle Management for Financial Services - Product Overview 8

including important metadata around source of change, time, and where appropriate manual
comments. A data auditing tool allows exploration of the history of any piece of data being
tracked, available directly from the summary screen for the customer.

Reporting and analytics

Pega Client Lifecycle Management for Financial Services includes a wide variety of standard
reports and graphs that provide real-time information about processes, work, assignments, and
historical data that customers use to analyze their users’ performance. Powerful, drill-down
analysis capabilities enable you to travel from a summary view of your entire operation down to
the details of a single onboarding case.

Role-based access
Managers can control access to the application, specific features, and data elements, using a
combination of configurable roles and privileges. Authorized users can easily configure dialogs,
coaching tips, and expert skills for service requests. These system tools are immediately available
to users as allowed by their permissions.

Service level management

To help you meet important performance objectives, the application provides sophisticated
facilities for managing value-based service level agreements (SLA). You can assign and monitor
work, ensuring that tasks are completed according to both business priority and customer value.

Event-driven architecture
Provided through Pega Foundation for Financial Services, the Event Driven Architecture facilitates
the creation, detection, consumption and reaction to events. Example events are an expiry
identification document, the need for periodic due diligence review or a customer data change
that may be material or not. All these events can be detected, and the system can carry out the
necessary customer journeys to allow ongoing compliance.

Customer Risk Assessment

Provided through the Pega Foundation for Financial Services, the Customer Risk Assessment is a
declarative network that tracks a wide range of data elements that impact the customer risk. One
or more elements are linked to a single risk factors such as Product, Country, or Related Parties.
These lower level risk factors roll up to a single overall risk for the customer.

Risk Override
As part of the risk model provided, users can override the automated overall customer risk. The
manually overridden risk will now be used to drive any risk-based activities instead of the
automated risk.

Pega Client Lifecycle Management for Financial Services - Product Overview 9

 Note: The Automated risk will still be calculated in parallel in the event that you want to revert
back to the automatically calculated risk.

The automated risk can be manually overridden from the Case Summary or by using a local action
when working on the case.

Case navigation
A bank onboarding a customer can update core driver data when the case is already in due
diligence so that the system can handle data corrections later in the process.

This enables a customer to select a local action to update core driver data while the main case is in
the Due diligence stage. The case will then navigate back to the Enrich stage in which the desired
data is updated. The case can then return to the Due diligence stage, leading to a recalculation of
the appropriate due diligence activities.

Party categorization, AML CDD profiling and operationalization

Every party in the system is categorized as either a contracting or a related party. Specific logic is
then applied in an ongoing fashion to determine an AML CDD profile across the levels of Exempt,
Simplified, Full or Enhanced due diligence. Combined with eScreening results and the current
customer risk assessment, the orchestration engine will automatically ensure that the appropriate
level of due diligence is carried out. This logic is fully configurable for the institution’s business
needs.

Customer Master Profile

Provided through the Pega Foundation for Financial Services, the Customer Master Profile
represents the local copy of all core data that directly drives the customer journeys. This includes
but is not limited to customer risk profiling, compliance elements (Pega Know Your Customer for
Financial Services profile information), jurisdictional elements, product related and relevant
related parties. The complete Customer related data will reside in the Financial Institution systems
of record, likely to be external to the application, but the systems needs to rely on a local copy of
the driving data to function without depending completely on those external systems of record.

Parallel product fulfillment

When onboarding a customer whose business spans multiple jurisdictions and products, the
corresponding work is complex and can take place across many global groups. One jurisdiction
may require a simple and short due diligence process, while another takes much longer. Parallel
product fulfillment enables each jurisdiction to proceed to local fulfillment once the due diligence
applicable for that jurisdiction is complete. It enables a sibling fulfillment case to be spun off for
each jurisdiction upon completion of all due diligence activities for that jurisdiction.

Pega Client Lifecycle Management for Financial Services - Product Overview 10

Group entity onboarding
In the corporate and investment banking (CIB) business there are instances where a group of
clients being onboarded share some of the elements of onboarding journeys, such as operational
data or KYC items.
The Group onboarding functionality enables organizations to auto-populate common data among
the group entities and share common group documents. More specifically, the functionality
enables you to:
• Auto-propagate data and documents that are known to be common for all entities, including
products, related parties, and documents.
• Select one entity from the group to use as a source of KYC data for specific KYC data fields. The
system uses a preconfigured auto-propagation of data for defined data fields in the Capture
and Enrich stages in the onboarding journey. The data auto-propagated from the source entity
can subsequently be used by the other entity onboarding request. The scope of fields subject
to auto-propagation depends on the type of group and relationship among entities.

Supporting evidence
In addition to requesting documents to supplement responses to KYC questionnaires in the context
of a Pega Client Lifecycle Management for Financial Services case, users can now request and attach
other documentary evidence file types such as screen shots or data from other cases.

Systems and environment

Business rules
Pega’s Business Process Management (BPM) streamlines your operations so you can reduce costs
and improve business agility. Pega is recognized by leading analyst firms as the most

Pega Client Lifecycle Management for Financial Services - Product Overview 10

comprehensive and unified BPM platform. Rules and processes automatically resolve work
wherever possible.

Case management
Pega’s industry-leading case management helps you simplify and automate work. Case
management helps you keep your promise to your customers, connecting all the people and
systems required to resolve each customer inquiry. It tracks related information, automates and
assigns outstanding tasks, and connects front- and back-office activity, for end-to-end resolution.

Visual workflow
Pega’s Directly Capture Objectives (DCO) visual tools capture every aspect of how work gets done,
including processes, user interface and rule creation, and integration. You can easily configure
workflows using Pega’s process modeler by dragging and dropping from a library of smart shapes.
You can quickly add new service requests, which automatically creates the infrastructure that Pega
Customer Lifecycle Management requires. You can translate business requirements into finished
applications without manual programming, reducing implementation time and bridging the gap
between technical and business resources.

Legacy system integration

Pega Live Data simplifies the use of data in business processes by delivering the right data, in the
right place, at the right time. It manages data requests behind the scenes so that data flows to the
right process steps. It is easy to change and adapt for new data sources and new applications,
across thousands of users.
In addition, Pega has a comprehensive suite of technology-level adapters that allow Pega
applications to fit seamlessly into an enterprise ecosystem. Pega supports transport or protocol-
level adaptors with form-based integration options, so that no custom code is required to connect
to an external system.

Pega live data

Integrations with your existing systems of record are a key part of any Customer Relationship
Management implementation. Pega customers can choose to use Pega as the system of record or
orchestrate their data from multiple sources for delivery through the Customer Service
application. In the case of the second option, Pega Live Data simplifies the use of data in business
processes by delivering the right data, in the right place, at the right time. It manages data
requests behind the scenes so that data flows to the right process steps. It is easy to change and
adapt for new data sources and new applications, across thousands of users.
In addition, Pega has a comprehensive suite of technology-level adapters that allow Pega
applications to fit seamlessly into an enterprise ecosystem. Pega supports transport or protocol-
level adaptors with form-based integration options, so that no custom code is required to connect
to an external system.

Pega Client Lifecycle Management for Financial Services - Product Overview 11

Situational Layer Cake
With Pega’s Situational Layer Cake, you can automatically tailor applications to the business
context in which they operate. Variation of scale is all handled in one version of the application,
using a coherent, layered architecture. Pega efficiently delivers repeatable, differentiated solutions
by re-using common policies and procedures in multiple business units, channels, geographies,
and customer segments.

Multiple language packs*

Language packs support localization of applications through use of translated field values for
buttons, prompts, and labels.

Deployment options
Cloud Choice and Pega Cloud
Pega Foundation for Financial Services is available on Pega Cloud as well as other configurations
(either third-party cloud or managed private cloud etc.) through Pega hosting partners.
Pega Cloud provides industry-leading infrastructure, enterprise-grade services, and operational
excellence. Realize a faster time-to-value for your Pega investments and take advantage of the
complete range of Pega Cloud services, from development and testing sandbox environments to
fully managed production environments. You can even migrate applications from the cloud to your
data centers as needed. On-premise deployment Pega supports a range of on-premise deployment
options, including several supported database, application and web server deployment options.
See https://pdn.pega.com/documents/platform-support-guide for details.
*Optional feature. Additional license fees may apply.

Pega Client Lifecycle Management for Financial Services - Product Overview 12

Pega Client Lifecycle Management customer
journeys and workflows
This section describes the standard customer journeys (also referred to as case types) that are included
with Pega Client Lifecycle Management for FS and are available for selection within the New Application
wizard when you create your application. Depending on your organization's needs, you may include all or
a subset of these case types in your application.

Example Customer Journeys

The examples shown here represent some of the key features of Pega Client Lifecycle Management for
Financial Services

Example 1: Onboard Customer – New parent entity

The image below shows the case summary of a new onboarding customer journey in the due diligence
stage. A clear summary of progress and status of the overall journey is available including details on tasks
being executed across the business in different groups.

Pega Client Lifecycle Management for Financial Services - Product Overview 13

Example 2: Maintain Business relationship – Add Product or location
The image below shows how an active customer can be onboarded with additional products. All data
captured in the original onboarding, including relevant due diligence information, will be reused if still
valid.

Example 3: Customer Review – Customer periodic review

The image below shows the initial confirmation screen in a Customer periodic review customer journey. A
set review date has passed for this customer and the customer journey has been automatically created
using event-driven architecture. A detailed review of the core customer data and due diligence will now
take place.

Pega Client Lifecycle Management for Financial Services - Product Overview 14

Standard case types
Customer Journeys Description

Onboard Customer – Onboards a new parent organization

New parent entity

Onboard Customer – Adds a new subsidiary to an existing organization

New subsidiary entity

Onboard Customer – Onboards a new organization as a fund manager including onboarding of

New fund manager funds

Onboard Customer – Onboards a new individual

New individual

Maintain Business Adds a new product or location to an existing organization

relationship – Add
Product or location

Maintain Business Adds a Fund to an existing Fund manager business relationship

relationship – Add Fund

Pega Client Lifecycle Management for Financial Services - Product Overview 15

Customer Journeys Description

Maintain existing Allows updates to general customer data to trigger any required additional
customer – Maintain due diligence activities
general customer data

Onboard new business Onboards an existing organization as a Fund manager including onboarding
relationship – New fund of funds
manager

Offboard existing Exits products or locations for an existing customer.

customer – Exit
products of locations

Offboard existing Offboards an existing customer entirely including all products or locations
customer – Offboard
existing customer

Customer Review – A periodic review of the customer’s due diligence based on the “next review
Customer periodic date”
review

Customer Review - A review of the customer’s due diligence based on a non-material change in
Customer amendment their information

Customer Review – A review of the customer’s due diligence based on a material change in their
Customer material information
change

Standalone due Conducts a standalone due diligence review for a customer already in the
diligence - Conduct due system.
diligence

Pega Client Lifecycle Management for Financial Services - Product Overview 16

Case Designer overview of main onboarding case

Built-in stages and customized steps within them

The following section reviews the currently-provided available stages, processes, and the potential cases
that may be generated as part of the delivery of these customer journeys.
These bases assets are specialized for the Retail Banking and Corporate Investment market segments:
• Capture stage – Retail Banking
• Enrich stage - Retail Banking
• Capture stage – Corporate and Investment Banking
• Enrich stage – Corporate and Investment Banking

Pega Client Lifecycle Management for Financial Services - Product Overview 17

Review the sections that are most relevant to your industry.

Pega Client Lifecycle Management for Financial Services - Product Overview 18

Capture stage – Retail Banking

Define customer journey

After entering a customer name, the Pega Client Lifecycle Management for Financial Services application
returns a list of existing customers or a customer that is in the process of onboarding; appropriate
customer journeys are then presented.
Pre-onboarding questionnaire (Web Self-Service channel only)
After the customer answers a simple set of questions, the Pega Client Lifecycle Management for Financial
Services application will determine if onboarding can continue via the self-service channel or whether the
potential customer must visit a branch.
Select products
The user sees a list of appropriate products with relevant information to choose from.

eAuthentication (Web Self-Service channel only)

This is an optional step whereby a customer’s identification for example, Passport or national ID) and face
is scanned with a camera for comparison purposes. Any data that can be captured from the document is
used to automatically fill in fields on the form.
Complete customer details
Enter the minimum data about the customer required to proceed the account opening application.
Personalize
The user enters account personalization details such as a PIN, password for online banking, and
statement preferences.
Incorporate third party data
The customer’s core details are automatically submitted to a third-party service to attempt to verify
identity, review credit, flag for potential fraud, and review the OFAC database. The varying results enable
more straightforward processing. The user is prompted to collect documentary evidence or for further
back office review.
Collect documents (if required)
The user provides documents as required to progress the onboarding process. They can provide files
from the local file system or make use of a camera/photo role from a mobile device.
Review submission
The user is presented with a set of final terms and conditions related to the chosen products and related
services.
Confirmation
The user is presented with a message confirming their next action in the onboarding process.

Pega Client Lifecycle Management for Financial Services - Product Overview 19

Enrich stage - Retail Banking
Back office review
In certain cases, the third-party eKYC customer validation process requires further review. A back-office
user is presented with all the necessary information to accept, reject, or escalate the request.
Produce welcome pack
Using data captured and standard templates, the application generates a welcome pack of appropriate
documents, attached to the case, and is sent by email to the customer.
Business approval cases
Pega Client Lifecycle Management for Financial Services generates a set of business approval cases and
routes them to the relevant regional business sponsor for processing and an approval process
appropriate to the products chosen.
Customer synchronization
Following successful approvals from the business sponsors, all the core data captured during the first
two stages of the customer journey is appropriately persisted into the systems of record. A sample
database comes built into the Pega Client Lifecycle Management for Financial Services application to
represent this process.

Capture stage – Corporate and Investment Banking

During a customer meeting a relationship manager collects the minimum data required to initiate the
relevant onboarding journey. This is typically carried out on a tablet. The relationship manager tasks are
detailed for each step of the capture stage:
Define customer journey
Pega Client Lifecycle Management for Financial Services can search a list of existing customers or a
customer that is in the process of onboarding; appropriate customer journeys are then presented.
Collect basic customer information
Entering basic information about the customer initiates the appropriate onboarding journey:
• Entity type
• High-level industry classifications
• Country of incorporation address
• Primary point of contact details

Add products
Selecting the Jurisdiction and/or Booking Entity presents a list of products available to onboard the
customer. This product list is driven by the operator’s alignment to the Financial Institution’s operational
structure and, as appropriate, supports selections of multiple products across multiple jurisdictions.

Pega Client Lifecycle Management for Financial Services - Product Overview 20

Related parties
While normally collected during the Enrich stage, related party data can also be added using the Manage
related parties local action. See Enrich Data for Due Diligence for further details.

Review required documents

The review of the initially required documents (based on the currently captured customer data) is
available using the local action Review required documents . This list of required documents can grow
significantly, as additional data is captured during the Enrich stage.
Business case
The business case information captured from this relationship includes expected service date,
investment objectives, investment outlook, and expected value of the business to the Financial
Institution.
Resolve duplicates
Core information captured in the onboarding initiation is compared with potential duplicate matches for
customers already on the system. The user is presented with a list of potential duplicate matches. They
either continue if desired or pick the duplicate match and abandon the journey before a duplicate record
is created.
Approve and prioritize
A preconfigured scorecard generates an initial priority assessment for the onboarding journey based on
a subset of the data captured by the relationship manager during the Business Case task. This step
forwards the necessary details in the assessment to the appropriate manager for review. The Pega Client
Lifecycle Management for Financial Services application enables the relationship manager or approvers
to override the initial priority assessment as well as define the route for the journey, so it enters the
Enrich stage as necessary.
Stakeholder notifications
Key stakeholders automatically receive email notifications, appropriately updating them with current
status and step completion. Pega email correspondence templates allow you to configure, style, and
brand emails to meet your corporate standards.

Enrich stage – Corporate and Investment Banking

The appropriate Sales Support teams enrich the case with the necessary data to create Know Your
Customer, Legal, and Credit due diligence work.
Incorporate third-party data
To enhance the data collection process during the Enrich stage, Pega Client Lifecycle Management for
Financial Services allows you to easily configure allowing third party services such as AVOX and Markit

Pega Client Lifecycle Management for Financial Services - Product Overview 21

(KYC.com) to automatically retrieve documentation and information. After you complete the
configuration for the desired entity, all documents can be retrieved and optionally attached to the parent
case for future processing. For individuals, Pega Client Lifecycle Management for Financial Services
automatically provides options for four business services: eIDVerification, eFraudCheck, eCreditProfile
and eScreening. By default, Pega Client Lifecycle Management for Financial Services configures these as
connected to Equifax, but the connection to similar service providers can be updated to meet your
specifications or requirements.
Produce welcome pack
This placeholder step represents the generation of a welcome pack for the customer being onboarded to
meet your specifications or requirements.
eScreening
The eScreening business service enables third-party providers of screening services to be utilized.
Equifax's service can highlight any matches to the US government's Office of Foreign Asset Control (OFAC)
database. Refinitv's World Check API uses data to screen for heightened risk individuals and entities
globally, and to uncover hidden risks in business relationships and human networks. A separate
eScreening case is spun off for parallel handling from the main parent case.
Enrich data for due diligence
Sales Support can build on the customer data captured during initiation of the onboarding journey. The
wide range of required enrichment data is split into nine logical categories to aid processing.
One particular area of data enrichment is related parties. To drive the necessary due diligence processes,
the Sales Support staff can relate individuals and organizations to the customer being onboarded. They
select existing parties or create a new one and select it. They then assign a related party from the
available categories, any of which can have custom attributes to drive later business processes.
For example, when an organization is classified as a beneficial owner, the user is prompted to collect
ownership percentage data. Ownership above a certain percentage designates that party as controlling
and will automatically generate additional Pega Know Your Customer for Financial Services due diligence
specific for this organization. The automatic assessment of whether the party is controlling or not can
also be overridden by the user with the appropriate justification.
Where appropriate, data captured in the Enrich stage will be automatically mapped to the answer in the
corresponding due diligence questions during the Due Diligence stage. The Pega Client Lifecycle
Management for Financial Services application presents customer data undergoing maintenance
journeys, including those for brand new customers or locations for your organization. The Credit and
Legal data categories are currently placeholders which are scheduled to be enhanced in future Pega
Client Lifecycle Management for Financial Services versions.

Monitor document collection

Filter and group collected documents that progress the onboarding journey to present appropriate
information to the Sales Support team. Each document is handled separately in its own case. Documents

Pega Client Lifecycle Management for Financial Services - Product Overview 22

can be uploaded from the local file system or pulled from existing attachments on the main case. For
example, documents retrieved during the Incorporate Third Party data task.
Business approval cases
Pega Client Lifecycle Management for Financial Services generates a set of business approval cases and
routes to them to the relevant regional business sponsor for processing and an approval process
appropriate to the products chosen.
Customer synchronization
Following successful approvals from the Business Sponsors, all of the core data captured during the first
two stages of the customer journey is appropriately persisted into the systems of record. A sample
database comes built into the Pega Client Lifecycle Management for Financial Services application to
represent this process.

Due diligence stage

An automatic generation of relevant Pega Know Your Customer AML, Product regulatory, Tax, Legal, and
Credit due diligence cases occurs, based on the data captured across the first two stages of the customer
journey. The Pega Client Lifecycle Management for Financial Services application allows each of the two
journeys to be run in parallel, reducing the overall onboarding processing time.
Pega Know Your Customer due diligence cases
The Pega Client Lifecycle Management for Financial Services application derives its value from the deep
integration with the Pega Know Your Customer for Financial Services application. A wide variety of Pega
Know Your Customer for Financial Services driver data is applied using configurable business rules to
generate a full set of regulatory Due Diligence checks.
Every Pega Know Your Customer for Financial Services case has the following stages:
• Related party KYC: Generates additional cases for all relevant related parties. This generation
will iterate down through the related parties’ network based on configuration.
• Global KYC: Collects Global KYC data.
• KYC review: Reviews/completes authorizations for Global KYC collected data.
• Local due diligence: Generates separate cases for each jurisdiction, including Anti-Money
Laundering (AML) checks, checks required according to the local regulatory requirements, and
a Relationship Manager review.

Regulatory due diligence cases

Product based regulations such as IIROC, Dodd-Frank, FINRA, EMIR and MiFID are handled in a set of
specific Regional and Local due diligence cases
Tax due diligence cases
Using the KYC engine and regulatory rules, tax-specific cases for FATCA and CRS are available.

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Credit due diligence cases
Credit sensitive products can be screened and automatically passed through a Credit Due Diligence
process. The application generates placeholder cases with appropriate stages.
Legal due diligence cases
The Pega Client Lifecycle Management for Financial Services application carries out an automatic legal
due diligence process based on the nature of the product, relationship, and type of organization being
onboarded. The Pega Client Lifecycle Management for Financial Services application generates simple
placeholder cases with representative stages.

Fulfillment stage
Product Fulfillment cases are generated for each jurisdiction followed by wrap-up activities and final
stakeholder notification typically found in the type of organization in which the onboarding journey is
based. Such fulfillment cases must be completed before you can resolve the overall customer journey.

Abandon Journey stage

An Abandon Journey stage is available as a local action during the Capture and Enrich stages. It allows
any user to put in a request to abandon the journey. This journey option presents a list of preconfigured
reasons and the ability to provide background information for the request. Upon approval by the
necessary manager, the Pega Client Lifecycle Management for Financial Services application “rewinds”
any data changes made up until that point and enables you to appropriately resolve the case without
further liability.

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Roles, portals, and dashboards in Pega
Client Lifecycle Management
Pega Client Lifecycle Management supports key roles associated with your day-to-day use of the
application. The table below describes the key access roles provided with the application.

Client Lifecycle management roles

Pega Client Lifecycle Management for Financial Services supports key roles associated with Corporate
and Investment Banking onboarding processes. The following table describes the roles provided with the
application.

Role name Description

Relationship Manager Initiates onboarding journey with customer
Relationship Manager - Manager Approves and prioritizes new onboarding requests
Global KYC – Manager Manager in charge of team carrying out Global Know Your Customer work
Global KYC – User User carrying out data collection for Global Know Your Customer due diligence
Global KYC Review – Manager Manager in charge of team reviewing Global Know Your Customer work
Global KYC Review – User User carrying out reviews of Global Know Your Customer work
Local KYC Review - Manager Manager in charge of team carrying out Local Know Your Customer reviews
Local KYC Review - User User carrying out Local Know Your Customer review
Business Sponsorship - Manager Manager in charge of team carrying out Business Sponsor approvals
Business Sponsorship – User Business Sponsor responsible for approving onboarding journeys progressing to
due diligence
Credit Analysis – Manager Manager in charge of team carrying out Credit Analysis work
Credit Analysis – User User carrying out credit analysis work
Legal Documentation – Manager Manager in charge of team carrying out legal documentation work
Legal Documentation – User User carrying out legal documentation work
Sales Support - Manager Manager in charge of team carrying out Sales Support enrichment activities
Sales Support – User User carrying out enrichment activities
Fulfilment – Manager Manager in charge of team carrying out fulfillment tasks
Fulfilment – User User carrying out fulfilment tasks
IT Admin User responsible for overall system configuration
Branch User User in branch onboarding Retail Banking customers
Branch Back Office User User at branch completing back office onboarding activities for Retail Banking
customers
Web Self-Service User Prospect carrying out onboarding process via a web browser (Phone, tablet, or
desktop)

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Client lifecycle management portals
Each of the preconfigured roles has access to portals designed to present information and help drive
their decisions. The end-user portals are as follows:
Name Description
CLM Relationship Manager Initiate customer onboarding journeys, and review progress and approve related
requests
CLM Back Office Manager Review and manage the work of others in areas such as business approvals,
product fulfillment, legal and credit approvals
CLM Back Office Operator Carry out back office tasks such as business approvals, product fulfillment, legal
and credit approvals
CLM KYC Manager Used to review and manage the work of those in the area of Know Your
Customer
CLM KYC Operator Used to carry out all appropriate types of Know Your Customer
CLM Sales Support Manager Used to review and manage the work of those in Sales Support
CLM Sales Support Operator Used to carry out Sales Support work
Branch Portal (Retail Banking) Used by branch front office user in Retail Banking

The following section provides examples of functionality across the available end-user portals.

Relationship manager dashboard

The Relationship manager dashboard provides a clear indicator of onboarding journeys by stage and
urgency, overall status, and action list.

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Branch Portal (Express onboarding for Retail Banking)

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Web Self-Service (Express onboarding for Retail Banking)
The onboarding flow has guiding text and the UI is specialized for the customer’s web self-service
experience.

Case search
This function allows operators and managers to search for cases and filter the list by core fields.

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Case overview
Gives users a clear indication of the current stage, who owns the current task, the key participants, case
progress, and access to further information using the Customer summary in the case header.

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Customer summaries
The application consolidates relevant customer information into a composite view for customer of type
Individual, Organization, or Fund. This enables users to get the full picture of your customers. Customer
composites provide organization detail, Know Your Customer types, and open and recent onboarding
requests. You can initiate appropriate new onboarding journeys such as Add Product or Location from
here.

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Customer search
You can search for existing customers using a basic or advanced search and then access their customer
summary. Search across a single or all customer types with results across multiple tabs.

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Where licensed appropriately, you can use a series of third party data partners to retrieve details of a
perspective customer. The onboarding process will then start with all available data prefilled, thus
accelerating the enrichment process.

In addition to the end-user portals, there are two additional business configuration portals:

Name Description

Requirements Portal Configure names and validation around document collection

KYC Rules Manager Studio Configure all rules related to Know Your Customer

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Primary data entities
This section describes the data types that are used by Pega Client Lifecycle Management for Financial
Services, stored in external systems or, where appropriate, internally to the Pega system.

Name Description System of record (SOR)

Accounts Financial account information associated to an External

organization or individual that includes credit, debit,
deposit, loan, and investment accounts.

Account transactions Transactions occurring within credit, debit, loan, External

investment, and deposit accounts.

Contact A contact is a person that is a prospect or customer. Pega or External

For business selling, they are usually employees of
the organization to whom you are selling. For
Individual selling, they are the person interested in
making a personal purchase.

Customer An individual or organization that has purchased Pega or External

product or services and holds financial accounts with
the Financial Institution.

Individuals An individual person who can be a customer, contact, Pega or External

or prospect to the financial institution.

Households A group of individuals related and aggregated External

together so that the optimal advice, offers, and
actions are provided when household members are
interacting with the Financial Institution.

Organizations A group of individuals related and aggregated Pega or External

together so that the optimal advice, offers, and
actions are provided when household members are
interacting with the Financial Institution.
A business, holding company, or corporation that can
be a customer, contact, or prospect to the financial
institution. It can consist of one or more
organizations that can hold many accounts. Some
examples include: corporations, partnerships,
associations, funds, trusts, family offices, and
endowments.

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Name Description System of record (SOR)

Parties A legal organization, individual, or fund that can be a Pega or External

customer, contact, prospect to the financial.

Products Products being sold and serviced to prospects and External

customers as separate products or as part of
bundles. Includes the product’s pricing, eligibility,
and benefits.

Prospect An individual or organization that does not yet own Pega or External
products of the Financial Institution and thus is not
yet a customer.

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Further reading
For more information about Pega Client Lifecycle Management for FS, see
https://pdn.pega.com/products/pega-onboarding-financial-services.

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