Pegasystems Inc. · NASDAQ:PEGA
Pegasystems — PegaWorld iNspire 2024
18 slides from Pegasystems's conference presentation, Aug 28, 2024
Slide 1: Wells Fargo Streamlines The Estate Settlement Process in This Moment of Truth
Wells Fargo Streamlines The Estate Settlement Process in This Moment of Truth Sangeeta Doss Head of Estate Care Center, Wells Fargo Bank, N.A. © 2024 Pegasystems Inc.
Slide 2: Agenda
Agenda Wells Fargo Overview Why This Moment of Truth (Estate Settlement) Is So Important Wells Fargo Estate Care Center – Who We Are and What We Do How Pega’s Intelligent Automation Supports The Process We’re Still Evolving Q&A 2
Slide 3: Wells Fargo Overview
Wells Fargo Overview ~$1.9 trillion in assets $19.1 billion of net income in 2023 Over 4,000 branches Fourth in assets among all U.S. banks as of 12/31/2023 3
Slide 4: Why focus on Estate Care?
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Slide 5: Improved Client Experiences Drive Meaningful Increases in Lifetime Value
Improved Client Experiences Drive Meaningful Increases in Lifetime Value Through Retention, Higher Balances, and Broader Product Use Customer Lifetime Value (LTV) 1.8x 1.5x 1.7x Detractors Passives Promoters Detractors Passives Promoters Detractors Passives Promoters Mass Affluent High Net Worth • I
Slide 6: Wealth and Age are Correlated: Wealth Clients are Older
Wealth and Age are Correlated: Wealth Clients are Older (68 Average), and Have Higher Average Balances Than Younger Clients Average Wealth Client Household Balances vs Age Total Wealth Client Household Balances vs Age (WIM HH $250K-$10MM) (WIM HH $250K-$10MM) $1,500,000 3.5 1,400,000 1,300,000 3.0 1
Slide 7: Process Complexity and Unfamiliarity Can Lead to Customer Dissatisfaction
The Complexity of the Process, Along With the Fact That Clients are Unfamiliar with Estate Work, Can Lead to Customer Dissatisfaction Clients Don’t Know Where to Start or What to Expect Themes Of Customer Dissatisfaction Include… Did my loved Confusion about the process, including Do I have to go ac
Slide 8: Wells Fargo Estate Care Center (ECC): Who We Are and What We Do
Wells Fargo Estate Care Center (ECC) Who We Are and What We Do
Slide 9: ECC Helps the Family Members and Representatives of WF Customers
ECC Helps the Family Members and Representatives of WF Customers Who Have Passed Away Estate Care Center| Wells Fargo We’re here to help when a loved one passes away Responsibilities Include: • End-to-end support for executors, successors, or family members of deceased customers. • Handling of compl
Slide 10: The ECC Process has Been Evolving Over the Past Few Years
High Risk Process Moderate Risk The ECC Process has Been Evolving Over the Past Few Years Low Risk Process Assessment, Authentication, and Stages Entry/Intake Authorization Maintain and settle accounts Multiple product, ownership, state rules Process account Establish Perform Establish disposition f
Slide 11: How Pega enables the ECC process
How Pega enables the ECC process
Slide 12: Customer Centric
Customer Centric • The ECC application allows the business to view and service the customer’s entire relationship with Wells Fargo • Case structure: – Parent case: Deceased customer – Product case: Type of accounts (e.g., Deposits, Credit Cards, Brokerage) – Account case: Each individual accounts ow
Slide 13: Automated Case Open and Customer Profile Maintenance
Automated Case Open and Customer Profile Notification of Death Received Maintenance The ECC application is integrated with the Customer Profile system of record to ensure the deceased customer’s WF profile is aligned with the ECC Pega Enterprise Estate Customer Case Profile Opened Updated 13
Slide 14: Authentication and Authorization of Estate Representatives
Authentication and Authentication/Call Authorization of Estate Details Representatives • Case Agents use Pega for authentication of all callers and Estate Representatives • Required documentation is Document determined and communicated Requirements • Documents are collected via mail, branch, email,
Slide 15: Account Maintenance, Research and Escalation, Quality Checks
Account Maintenance Research and Escalation Quality Checks • Quality workflows are built • Upon notification of death, • Estate management is into the process to ensure Pega automatically completes complex, additional Legal correct distribution of assets critical processes: guidance or research is a
Slide 16: We're still evolving and building capabilities
We’re still evolving and building capabilities
Slide 17: What's Next?
What’s Next? Additional More Document Portal Product Automation Rules Engine Enhancements Integrations 17
Slide 18: PegaWorld iNspire
PegaWorldiNspire