Nordea to Automate Investigations, Enhance Processes

Selects business process management software from Pegasystems

Cambridge, MA — October 29, 2004 — Nordea, the leading Nordic financial services group, said today it has chosen business process management (BPM) software from Pegasystems Inc.

The initial phase of the program will roll out PegaBANKING Smart Investigate to four of Nordea's payment processing areas: Helsinki, Copenhagen, Oslo and Stockholm. Additional projects within global operational services, such as Treasury and Custody, will also be reviewed, with the goal of further enhancing operational processes across the entire organization.

PegaBANKING Smart Investigate, which Pegasystems recently made available on its PegaRULES Process Commander V4 platform, automates inquiry and exception processing activities across numerous wholesale banking departments, including payments, foreign exchange and Nostro reconciliations. It handles the receipt and processing of incoming messages, sends outbound correspondence in SWIFT and other formats, searches for related transactions, and processes compensation claims and adjustments.