Fenergo, the provider of AI-powered solutions for Know Your Customer (KYC), Anti-money laundering (AML) transaction monitoring and Client Lifecycle Management (CLM), has announced several key updates including being recognized by Chartis for KYC and being acknowledged for its AI-enhanced digital customer onboarding solutions.
In addition to industry recognition for its Regtech and Risktech solutions, Fenergo continues to expand operations with the recent appointment of financial crime professional Michael Shepard to its Growth Advisory Board.
As explained in a blog post, Sheperd will now be expected to leverage his industry expertise to support Fenergo’s U.S. business expansion efforts, improve global AML and financial crime compliance strategies and provide strategic guidance to support growth.
Marc Murphy, CEO of Fenergo said that they are focused on expanding business operations in the fast-evolving US market.
As covered, Fenergo is the provider of AI-powered Client Lifecycle Management (CLM), know your customer (KYC) and anti-money laundering (AML) transaction monitoring solutions that digitally improve how FIs, asset management and fintech firms and corporates onboard and manage clients throughout their client lifecycle.
Its software “digitally orchestrates” every client journey from initial Know your Customer (KYC) and client onboarding, “automating regulatory compliance and enabling continuous monitoring” throughout the client lifecycle (transaction monitoring, perpetual KYC), all the way to client offboarding.
Fenergo claims that it is recognized for its “in-depth” financial services and regulatory expertise and rules engine which ensures financial institutions are future-proofed against evolving Environmental, Social and Governance (ESG), KYC, AML, tax and prudential regulations across over 120 different jurisdictions.
As covered last month, Landesbank Baden-Württemberg (LBBW), Germany’s largest state bank, has selected Fenergo, the provider of solutions for know your customer (KYC), client lifecycle management (CLM) and transaction monitoring to provide a new cloud-based client onboarding system to enhance its compliance processes.
Fenergo will support LBBW’s business in Europe (excluding Germany), the United Kingdom and Asia and thus about 1,500 institutional as well as corporate clients.
With total assets of €324 billion, LBBW is Germany’s largest Landesbank. The bank selected Fenergo to enhance automation of its compliance processes and “increase operational efficiencies.”
This will strengthen the bank’s reputation and competitiveness as part of its global expansion efforts.
