Pega Client Lifecycle Management for Financial Services offers sophisticated handling of document gathering. Throughout most customer journeys, it is commonly necessary to provide supporting documentation that can proof, for example, the identity of an individual or the formation of an organization.

Functional components

The documentary requirements applicable to each specific journey is determined by the system based on the assessment of different drivers like jurisdictions, product types, customer, and related party roles or risk. The system determines which documents are required in each specific scenario and adjusts the requirements as the data change during journey lifecycle.

The functionality is structured in four main functional components:

Requirements definition

The first step to use the functionality is having the rules that drives the documentary requirements defined in the system. This is usually performed in design time using the Requirements Portal or by developers using Dev Studio.

Synchronization engine

This component is in charge of keeping up to date the documentary requirements specific to a given case. It is automatically executed by the system in multiple points of the application, including the synchronization with the Master Profile. It is under this module that the system determines which requirements and parties should be considered, and create requirement cases accordingly.

Requirements case

This case type is the vehicle for the satisfaction of a specific requirement – for example, a proof of identify. It starts with the collection of the required documents and then progresses through different data capture and verification stages until the requirement can be considered satisfied.

Supporting assets

There are few supporting essential to facilitate the operations. That is the case, for example, of the requirements gadget embedded in the case summary screens and that gives access to the requirement cases, or the list of requirements satisfied by a given customer under the Customer 360 view.

Architecture and rulesets

The solution has been implemented in two different layers, both made available in Pega Client Lifecycle Management for Financial Services through the inclusion of Pega FS as a build-on application.

Pega Requirements

This layer contains an industry agnostic version of the module. It is shipped as an independent application rule (PegaRequirements), which is included as a built-on application in Pega FS.

Pega Requirements FS

This second later implements specific customizations for Financial Services. It is shipped as a ruleset (PegaFSRequirements) included in PegaFS application.

Although Pega Requirements can be used as base to implement the functionality in other industries, the module cannot be considered fully functional without the Financial Services layer on top. It despites the distribution of rules across the two layers, the functionality described in this guide can only be enabled with the two layers in the stack.

Generation 1G vs 2G

The Requirements module was developed in the early versions of Pega Client Lifecycle Management for Financial Services. Although it came with some basic functionality that covered most of the immediate needs of the customer, there were some important aspects that were not considered in the preliminary version of the module. This version of the module is known as 1^st Generation (1G).

In 8.5 version, Pega Foundation for Financial Services introduces a new version of the functionality to overcome some of the most important limitations. The module is refactored to enable financial institutions to take the document management process to the next level. This new version of the module is known as 2^nd Generation (2G) or Requirements Next Generation (RNG).

The parallel existence of these two versions of the functionality affects to customers in different ways depending on where they are in their journey with Pega Client Lifecycle Management for Financial Services.

Fresh install

Financial institutions installing Pega Client Lifecycle Management for Financial Services for the first time automatically adopt the latest version of the functionality (2G) without having to do any specific configuration.

Upgrade

Financial institutions upgrading from previous versions of the product must perform some manual tasks to activate the new functionality. In the meanwhile, before those tasks are completed, the legacy version of the application (1G) will be used. See Upgrading from previous versions for more details.

For more information about how to move from 1G into 2G, see Upgrading from 1G to 2G.