External data providers
Onboarding, maintaining, reviewing, and offboarding clients require varying levels of data. Any existing data can be automatically reused, but users must manually obtain it from other internal or external systems. These operational inefficiencies slow down the customer journeys and, therefore, time to revenue for the Financial Institution and their clients.
In the client risk and due diligence space, an increasing number of external data providers offer wide ranges of valuable data and services to speed up these processes. Multiple providers provide the same types of data and services but are chosen based on factors, such as geographic focus, specialized knowledge, and price.
Pega Client Lifecycle Management and KYC provides implementers with a common set of functional business services to obtain types of data and services from one or more external data providers. Where already integrated, existing providers can be used with little effort. New providers can also be added with less impact on the application.
The following sections describe how Pega Client Lifecycle Management and KYC implements access to external data providers, where and how they are used in the main CLM journeys, and how they can be configured in the system.
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