Fenergo has launched its FinCrime Operating System (OS), which is described as an evolution of its existing solutions to become the single unifying platform across the Client Lifecycle.
It leverages trusted Agentic AI to empower financial institutions “to overcome spiraling operational costs and rising compliance demands enhanced by geopolitical tension and regulatory flux.”
Fenergo FinCrime OS, powered by an Agentic AI layer, “unifies all client lifecycle events -onboarding, KYC, screening, identity and verification (ID&V) and transaction monitoring – on a single platform.”
The initial six autonomous AI agents execute tasks “quickly, accurately, and with full auditability.”
These agents enable firms to automate tasks, “gain real-time insights, and maintain full control and governance.”
The Citco Group of Companies is among several global financial institutions participating in “an early adopter program.”
Fenergo’s “intelligent” platform delivers the following outcomes:
- Enhanced client and user experience: building on an end-to-end unified view of the client lifecycle, the Fenergo FinCrime OS delivers a seamless, digital-first client and user experience. With streamlined onboarding and KYC review, smooth transaction monitoring alert workflows, minimized duplication and smooth customer outreach.
- Reduced operational costs: Fenergo FinCrime OS allows automation across previously siloed systems and manual tasks, eliminating time wasted on low-risk and labor-intensive tasks, reducing operational costs by up to 93%, allowing staff to focus on higher value-add activities.
- Stronger risk mitigation: FinCrime OS’ Command Centre enables FIs to review all FinCrime events across the institution. Agentic AI driven insights detect hidden risks and allow for better operationalization of policy while reducing regulatory risk.
- Sound AI governance and control: built in line with global AI acts and regulatory guidelines, and in close collaboration with leading Financial Institutions, Fenergo’s Agentic AI is the most trusted in the industry. A dedicated AI Governance view allows FIs to configure, govern and control agentic collaboration. Every agentic action is logged, explainable and available for human review, ensuring adherence to governance procedures and building trust in AI.
Fenergo’s initial six AI agents streamline periodic KYC reviews “by autonomously handling tasks like data reconciliation, document classification, and risk screening.”
This reduces manual effort and backlog, “enabling proactive, intelligent workflows and allowing compliance teams to focus on high-risk exceptions.”
Reducing periodic review timeframes by up to 45%, FinCrime OS “not only ensures regulatory adherence but also drives operational efficiency and improved client experiences.”
The Six AI Agents available include:
- Data Sourcing Agent – Sources data from one or more third-party data provider, compares against entity data and auto-completes tasks
- Screening Agent – Runs screening checks against third-party integrations, auto-resolves hits and returns results to providers
- Document Agent – Extracts, classifies and links documents using AI to automate document-management processes
- Significance Agent – Performs a check against data changes to determine significance to define next action
- Autocompletion Agent – Automates the completion of tasks based on pre-defined rules, policy and configured guardrails
- Insights Agent – Fenergo’s co-pilot, allowing users to interact with all operational, policy and entity data through natural language and harness real-time insights on process efficiency, operations and risk.
Built into the FinCrime OS, the Command Centre is “a role-based daily landing page.”
It delivers personalized, real-time dashboards and data analytics, allowing users to observe “all agent activity and maintain complete governance and control over entity data in line with global AI regulations.”
The Command Centre also interacts with Insights Agent, Fenergo’s co-pilot for delivering “insights and task and journey progress tracking.”
Marc Murphy, CEO, Fenergo, commented:
“Across the financial services industry compliance has become increasingly complex, costly and unsustainable. Fenergo’s vision is to drive unprecedented change by transforming compliance from a reactive cost-center into a strategic competitive advantage. By re-imagining client lifecycle management through the lens of financial crime operations with intelligence and automation at its core, Fenergo’s FinCrime OS will ultimately empower financial institutions to handle more clients, with fewer errors while streamlining operations. Compliance as a strategic engine for growth is our north star and FinCrime OS is a leap forward in realizing that vision.”