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CBA attributes success to Pegasystems

The Commonwealth Bank of Australia has attributed part of its success so far to Pegasystems, which has helped reduce the bank’s burden of working on trivial business processes and instead has allowed it to focus its attention on servicing its increasingly demanding customers. Speaking at the opening of the Pegasystem’s new office in Sydney, the bank’s CIO Michael Harte said as the company faces the current technology disruption, it was important they got the business process framework right, which has since enabled it to refocus and repurpose how they do work. He said as a financial service company goes to market, to ensure it remains relevant and is able to increase the intimacy of the interaction it has with the same personality or legacy, it can be really difficult. But what Pega, and the likes of other IT corporations, offer is to reduce that burden on carrying that legacy and allow the recapitalization of the existing systems by redesigning processes so they can engage with the customer more readily. According to Pegasystems founder and CEO Alan Trefler, adopting its process models is about engaging, simplifying and changing the way businesses operate, particularly by taking a new model approach to software. He said the company’s focus is to eliminate an irony that exists in computer technology, and to digitise a lot of business processes and procedures that remain paper-based decades after they could have been digitised.

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