Driving Innovation in Finance: Pega Infinity vs. Java EE Solutions

Driving Innovation in Finance: Pega Infinity vs. Java EE Solutions

Dinesh Karanam

15 February 2024

• Facebook
• Twitter
• Linkedin

In the swiftly evolving landscape of Financial Services, organizations in Banking, Capital Markets, and Insurance are grappling with multifaceted challenges where the efficiency and speed of application development are paramount. These industries are under constant pressure to streamline complex processes, ensure rapid deployment of services, maintain strict regulatory compliance, and provide a seamless customer experience. The latest whitepaper from Capgemini, focusing on the productivity comparison between Pega Infinity'23 and traditional custom development in Java, brings to light solutions that address these pressing issues.

Customer Problems in Financial Services:

• Efficiency in Process Design and Workflow Automation: Financial institutions face the daunting task of designing and deploying complex financial products and services rapidly. The industry demands solutions that streamline the entire lifecycle ensuring that products meet market needs quickly while adhering to stringent compliance standards. The ability to adapt these workflows efficiently in response to regulatory changes or market dynamics is also crucial.
• Innovative UI/UX for Superior Customer Engagement: In the digital age, customer expectations for online banking and insurance services are higher than ever. Financial institutions must provide innovative, intuitive, and engaging user interfaces and experiences. This involves not just aesthetic appeal but also ensuring that digital platforms are responsive, accessible, and personalized, catering to the diverse needs and preferences of users.
• Cost Optimization and Strategic Resource Allocation: With the pressure to innovate and stay competitive, financial institutions are also focused on optimizing costs and strategically allocating resources. This involves reducing the total cost of ownership (TCO) across development, maintenance, and training, without compromising on service quality or compliance. Achieving this balance requires solutions that are not only efficient and effective but also scalable and easy to manage in the long term.
• Seamless Integration of Cutting-Edge Technologies: The financial sector is increasingly looking towards cutting-edge technologies like AI, machine learning, and predictive analytics to drive decision-making, personalize services, and enhance operational efficiency. Integrating these technologies seamlessly into existing systems, however, poses a significant challenge. Institutions need platforms that can not only accommodate these technologies but also leverage them to the fullest, transforming data into actionable insights and competitive advantages.

Evolution in Process Automation

Process automation has experienced a profound revolution, reshaping the landscape of application development. The emergence of low-code/no-code platforms, coupled with the infusion of generative AI, has fundamentally changed the game. These advancements have made application development more accessible and significantly faster, breaking down barriers and catalyzing innovation. At the forefront of this transformative wave are Pega Infinity'23 and Java Enterprise Edition. Both platforms, supercharged by the capabilities of generative AI, stand as beacons of this evolution, delivering levels of productivity and innovative potential that were once unimaginable.

Dissecting the Paradigms

The whitepaper provides an in-depth analysis, juxtaposing two distinct technological frameworks that are redefining the realm of application development:

Low-Code Platforms with Pega Infinity'23 Pega Infinity'23 emerges as a paradigm of efficiency and user-centric design. It boasts an array of intuitive visual interfaces that simplify the design process, a comprehensive suite of pre-built components that accelerates development, and the cutting-edge Pega GenAI™ that reshapes the development landscape. The incorporation of generative AI elevates the platform's capabilities, offering features like automated code generation and dynamic adaptability to process changes, thereby multiplying productivity and offering unparalleled flexibility in application development.

Advanced Cloud Development with Java EE (JEE) and Microservices On the other end of the spectrum lies the more traditional, yet profoundly robust, route of Advanced Cloud Development using Java EE (JEE) and Microservices. It's an ideal choice for scenarios demanding highly customized and sophisticated application solutions. The approach, while offering an unparalleled level of flexibility and control, necessitates a more substantial investment in time and resources. It's particularly suited for projects where the intricacy of the application's functionalities and the need for tailor-made solutions outweigh the imperative for rapid development.

Key Findings and Strategic Insights

The study presents a meticulous analysis, fortified with compelling metrics, that underscores the revolutionary impact of Pega Infinity'23 in the process automation sector. These insights reveal not just incremental improvements but substantial leaps in development efficiency, strategic impact, adaptability, and cost efficiency:

Development Efficiency: Pega's productivity has surged by 33% compared to previous benchmarks against JEE, with a 75% efficiency increase in workflow automation and an impressive productivity factor of 8.9. Pega's development pace is six times quicker than traditional Java, with a productivity factor of 9.5. The introduction of Pega Constellation and GenAI™ enhances user engagement by dynamically adapting UI elements to user behaviors, ensuring a seamless and intuitive user experience

Strategic Impact and Cost Efficiency: Pega offers a rapid development environment with a productivity factor 7.8 times higher than custom builds and showcases strength in automating complex business processes. Pega GenAI™ simplifies AI feature implementation and streamlines the testing phase with automated data generation.

Unmatched Adaptability and Innovation: Pega offers a rapid development environment with a productivity factor 7.8 times higher than custom builds and showcases strength in automating complex business processes. Pega GenAI™ simplifies AI feature implementation and streamlines the testing phase with automated data generation.

Pega GenAITM - A Game Changer

Pega GenAI™, integrated with Pega Infinity'23, signifies a revolutionary shift in application development. It infuses AI-driven efficiencies into every aspect of application creation and management, simplifying complex tasks, automating routines, and providing intelligent insights. It enhances the robustness and reliability of the final product, streamlines integration, and ensures precision and accuracy by making data-driven decisions.

Navigating the Future of Process Automation

This whitepaper serves as a visionary guide in the process automation landscape, dissecting the capabilities of Pega Infinity'23 and JEE Microservices. It provides invaluable insights for decision-makers and developers, anticipating future trends and offering knowledge for informed decision-making. The whitepaper invites readers to embrace the transformative potential of these platforms in process automation implementations.

Embrace the Revolution in Process Automation

Discover the findings that delineate the capabilities and advantages of Pega Infinity'23 and JEE Microservices. By engaging with the content of this whitepaper, you position yourself at the forefront of the process automation revolution, ready to harness the advanced features, enhanced productivity, and strategic insights offered by Pega Infinity'23 and JEE Microservices.

Senior Director, Business Processes and Augmented Services Leader for North America, Financial Services

Contact with us