NEW YORK--(BUSINESS WIRE)--Luxoft Holding, Inc (NYSE:LXFT), a leading provider of software development services and innovative IT solutions to a global client base, will be demonstrating its end-to-end Pega integration capabilities at PegaWorld 2017, Pegasystems’ annual global conference that brings together business and technical visionaries from the world’s leading companies. The demonstrations will focus on two industries: financial services and automotive.
Luxoft plans to showcase its custom demonstration of Pega® Robotic Process Automation (RPA) with Pega® KYC. Pega KYC integrates data sources from ComplyAdvantage (a provider of data) for financial institutions to rapidly onboard new customers while addressing global regulatory requirements such as Anti-Money Laundering (AML), Office of Foreign Asset Control (OFAC) sanctions, Adverse Media, and Politically Exposed Person (PEP) checks. Combined with the power of RPA, financial institutions can further automate many of the high-volume, low-complexity repetitive manual tasks in onboarding and KYC remediation processes that require considerable time and money.
“We will be demonstrating how a compliance analyst rapidly onboards a new customer as the system quickly combs the relevant surveillance domains such as ComplyAdvantage to find risks and meet regulatory requirements,” said Naresh Kirpalani, Luxoft’s Global Practice Director for Business Process Management (BPM). “Rather than having to open five or more applications and cut-and-paste data from screen to screen, the Know Your Customer (KYC) tasks are completed in short time by leveraging Pega Robotic Process Automation (RPA). Pega’s RPA solution allows banks and financial institutions to onboard new customers rapidly while ensuring consistency. Additionally, given that Pega RPA transactions are system generated, they are recorded and traceable for analysis and review.”
“Financial institutions face increased regulatory scrutiny in their global AML programs and expanding regulations across jurisdictions, while at the same time find themselves under pressure to stay competitive, cut costs, and increase efficiency and transparency,” said Reetu Khosla, Head of Client Lifecycle Management & KYC, Pegasystems. “Pega KYC is the only application in the market unified with robotics automation capabilities, which allows banks to rapidly meet remediation and regulatory requirements while driving faster onboarding and mitigating risk.”
In addition to financial services, Luxoft is also demonstrating their automotive platform, AllView II. This will be used to showcase how various premium software-defined features can be enabled on-demand using Pega® Platform to verify driver’s entitlement to requested features and orchestrate provisioning upon approval. It is expected that in the future AllView II also would support proactive service and monetization options leveraging Pega Platform.
Luxoft focuses on connected car uses-cases, as the automotive industry transitions from legacy, product-focused business models to increasingly services-oriented offerings, leveraging their deep connection with car owners to provide advanced mobility services. Pega Platform serves as future proof, back-end platform that enables billing, driver management, service management, and pay-as-you go insurance options for the connected car.
“We are very excited to showcase a demonstration which brings together Luxoft’s vision of connected cars and the power of Pega Platform,” said Yuri Elkin, Managing Director and Head of Luxoft Digital. “We believe that in the future many more vehicles will be connected and will be a part of an ‘on demand’ economy. We envision our framework as an innovative means for our automotive customers to gain a competitive head start in the retail car industry or large fleet sector.”
The demonstrations are available to view at Luxoft’s booth #24. Click here for more information on PegaWorld 2017.
Luxoft Holding, Inc (NYSE:LXFT) is a leading provider of software development services and innovative IT solutions to a global client base consisting primarily of large multinational corporations. Luxoft's software development services consist of core and mission critical custom software development and support, product engineering and testing, and technology consulting. Luxoft's solutions are based on its proprietary products and platforms that directly impact its clients' business outcomes and efficiently deliver continuous innovation. The Company develops its solutions and delivers its services from 34 cities with dedicated delivery centers worldwide. It has over 12,700 employees across 39 cities in 19 countries in North America, Mexico, Western and Eastern Europe, Asia Pacific, and South Africa. Luxoft is incorporated in Tortola, British Virgin Islands, has its operating headquarters office in Zug, Switzerland and is listed on the New York Stock Exchange. For more information, please visit http://www.luxoft.com.
This news release of Luxoft Holding, Inc (“Luxoft”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include information about possible or assumed future results of our business and financial condition, as well as the results of operations, liquidity, plans and objectives. In some cases, you can identify forward-looking statements by terminology such as “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “expect,” “predict,” “potential,” or the negative of these terms or other similar expressions. These statements are subject to, without limitation, the risk factors discussed under the heading “Risk Factors” in Luxoft’s Annual Report on Form 20-F for the year ended March 31, 2016 and other documents filed with or furnished to the Securities and Exchange Commission by Luxoft. Except as required by law, Luxoft undertakes no obligation to publicly update any forward-looking statements for any reason after the date of this news release whether as a result of new information, future events or otherwise.
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