Regtech: Citco Group of Companies Selects Fenergo’s Platform for Onboarding, KYC

The Citco group of companies has moved to streamline the client onboarding and Know Your Customer (KYC) processes after agreeing to a deal with digital transformation business, Fenergo, “to integrate its client lifecycle management (CLM) platform across Citco.”

Citco, which claims to be one of the world’s largest Asset Servicing providers with $1.8 trillion in assets under administration (AUA), provides “a broad range of financial services for hedge funds, private equity, real estate funds, and more.”

The business selected Fenergo’s CLM software as a service (SaaS) platform so it can deliver frictionless end-to-end client journeys “through front-to-back office integrations with anti-money laundering (AML) screening providers and centralized document management.”

Fenergo, the provider of digital transformation, customer journey, and client lifecycle management (CLM) solutions, “offers a range of software and services designed to drive operational efficiencies.”

Fenergo’s CLM SaaS platform and regulatory rules coverage “in over 120 jurisdictions automate perpetual KYC, customer due diligence (CDD) and risk profiling.” It also provides compliance teams “with the ability to visualize complex entity data structures, and identify politically exposed persons (PEPs) and ultimate beneficial owners (UBOs), ensuring regulatory certainty.”

Albert van Nijen, Head of Client Lifecycle Management, Citco Fund Services (Curaçao) B.V., said:

“As an industry leader, we recognize the importance of continuing to take an innovative approach to increase our service standards in order to surpass clients’ expectations, while also satisfying increasing regulatory requirements. Fenergo’s CLM platform, their community approach to CDD, and their experience with digitalizing customer onboarding, will enable Citco to achieve these objectives whilst ensuring the business continues to meet all current and future KYC and CDD commitments”.

Stella Clarke, Chief Strategy & Marketing Officer, at Fenergo, said:

“Citco is ahead of the curve with its approach to innovation and we are delighted to support it on its path to digital transformation. We are focused on enabling Citco to transform its client experience and deliver even greater value to its clients with the delivery of our award-winning SaaS CLM solution.”


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