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New version of market-leading solution further simplifies time-consuming process and supports more payment types

CAMBRIDGE, Mass., December 11, 2024--(BUSINESS WIRE)--Pegasystems Inc. (NASDAQ: PEGA), the Enterprise Transformation Company™, today introduced the next generation version of its market-leading Pega Smart Dispute™ offering, including new generative AI and automation features that helps banks accelerate resolution of disputes and fraud claims for any type of payment. With the new Pega Smart Dispute Enterprise Edition, banks can now resolve complex disputes and claims even faster across a wider range of payment types, all through a single, powerful, and time-tested Pega solution.

Banks worldwide are facing a massive surge in chargeback requests, which are costly and time-consuming to process. Research firm Datos Insights found customers disputed $11 billion worth of charges in the U.S. last year alone, with this figure expected to rise 40% by 2026. The adoption of alternative payment methods beyond Visa and Mastercard has surged in recent years with significant growth in mobile wallet payments, peer-to-peer payments, buy now pay later (BNPL), and real/near-real time payment systems. Banks must navigate this ever-growing array of global and regional payment types while working across a complex web of evolving chargeback policies, often across siloed systems.

Any payment type, unified under one solution
Trusted for decades by dozens of the top global banks to handle card payment disputes, Pega Smart Dispute Enterprise Edition can now process any possible payment type more efficiently and effectively with gen AI and expanded automation capabilities.

By tapping into Pega GenAI Blueprint™ – the workflow design platform launched earlier this year – users can extend Pega Smart Dispute Enterprise Edition to support new payment types in just seconds using natural language prompts. This means banks can easily support emerging, regional, or niche payment types as quickly as they come to market. Pega leverages its 20 years of extensive chargeback experience and the power of gen AI to automate new payment workflow creation. This complements existing out-of-the-box support for more established payment types, such as Visa, Mastercard, American Express, Zelle, and others, all under one centralized disputes platform.

Even more automation & guidance
In addition, Pega has added a suite of AI agents that infuse even more automation and guidance through every step, including:

• Intelligent guidance: Pega GenAI Coach™ gives employees an always-on mentor within Pega Smart Dispute Enterprise Edition to help optimize their work and overcome roadblocks.

• Fast and accurate data retrieval: Pega Knowledge Buddy™ gives employees quick and accurate answers to dispute processing questions using Retrieval Augmented Generation-based gen AI.

• Other gen-AI agent assistance: Additional gen AI agents help employees process disputes smarter and faster, including instant summaries of customer calls via Pega Voice AI™ or instant summaries of client claims and dispute histories with Pega GenAI™.