Pegasystems, Inc., the software company powering the digital enterprise with Better Business Software®, today announced that The Master Trust Bank of Japan, Ltd (MTBJ), headquartered in Hamamatsu-cho, Minato-ku, Tokyo, has rolled out a new custodial account management system built on Pegasystems’ Build for Change® platform. The new application, launched in just six months, is designed to manage risk and increase operational efficiency in the account management process.
MTBJ leverages a diverse network of overseas custodians to perform administrative operations of off-shore securities. Custodial account management refers to operations where MTBJ opens and closes accounts with overseas custodians on behalf of customers. The new solution was designed to allow MTBJ to respond more quickly to changing business environments. By providing visualization of business operations and clarity of rules, the bank expects to reduce administration risks and increase the efficiency of organizational operations. This custodial account management system is the beginning of a digital transformation for MTBJ, which plans to introduce further process reforms using Pegasystems technology in the coming years.
Custodial account management is an extremely complicated process requiring more than 50 steps along with the transfer of many different types of documentation. The new Pegasystems solution facilitated collaboration between the business and IT teams to define processes and rule requirements, including the sharing of screen images to take advantage of non-coding development. This enhanced communication between IT and the business enabled this new system to be launched within six months.
Quotes & Commentary
“We are proud to be working with The Master Trust Bank of Japan on their digital transformation journey,” said Nobuhiko Watanabe, Managing Director at Pegasystems Japan K.K. “The Master Trust Bank of Japan’s vision for their new custodial account management system will enable them to provide a better experience for their customers, while also simplifying the bank’s operations to drive greater overall efficiency for their account management process.”
About The Master Trust Bank of Japan Ltd
The Master Trust Bank of Japan, Ltd is a trust bank established under joint capital investments from Mitsubishi UFJ Trust and Banking Corporation, Nippon Life Insurance Company, Meiji Yasuda Life Insurance Company, and The Norinchukin Trust and Banking. It specializes in asset management and performs custody and administration of securities. With JPY 365 trillion of assets under management, as of March 31, 2014, the bank prides itself on being the largest of its kind in Japan.
Pegasystems Build for Change® Platform (pega.com) is the heart of Better Business Software®. It delivers business agility and empowers leading organizations to rapidly close execution gaps and seize new opportunities. Pegasystems leverages its recognized leadership in Business Process Management (BPM), Multi-Channel Customer Relationship Management (CRM), Business Rules, and Adaptive Analytics to uniquely give its clients the power to engage customers, simplify operations and Build For Change®.
All trademarks are the property of their respective owners.
The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.