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Know Your Customer (KYC)

Know Your Customer - KYC

A single out-of-the box, rules-driven platform for all KYC and regulatory compliance requirements.

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Fenergo’s Know Your Customer (KYC) is a single, integrated platform that efficiently manages all KYC and regulatory compliance requirements from initial take-on right through the entire client lifecycle, including regular, ad-hoc and event-triggered reviews, as well as data and documentation refreshes.

Based upon a sophisticated Regulatory Rules Engine, the Fenergo solution uses dynamic decision tree intelligence to determine the regulatory journey of the client including all the regulations, KYC questionnaires, classifications and risk assessments that need to be adhered to and performed. Furthermore, it also determines all of the client and counterparty data and documentation that is required to support the KYC and regulatory compliance obligations.

Measure Risk, Manage Compliance

It is specifically designed to accurately measure and monitor the risk exposure presented by clients, and minimize this risk by ensuring continued compliance throughout the client lifecycle.

A Risk-Based Approach to Lifecycle Compliance

The solution adopts a risk-based approach to Regulatory Onboarding and Client Lifecycle Management by assigning a risk-rating based on the data provided. This risk score dictates the level of due diligence the legal entity will have to undergo – either a standard level of due diligence (CDD), an enhanced level of due diligence (EDD) for a higher-risk entity and ongoing due diligence (ODD) as risk changes over time

Focus Resources on Higher Risk Entities

The rules-driven risk-scoring capabilities of Fenergo KYC enable financial institutions to focus scarce resources on performing KYC reviews for higher-risk legal entities. Its advanced Capacity Management module provides the ability to smooth out demand for reviews throughout the year based on client risk ratings and the availability of compliance review resources.

Improve Operational Efficiencies, Reduce Cost of Compliance

Through its optimized workflow automation, the Fenergo KYC solution ensures the systemized enforcement of data, document gathering and compliance requirements across the bank, promoting an institution-wide, single client view.

The solution is available as a standalone module or can be fully integrated with the Fenergo Client Lifecycle Management solution.

Useful resources

Whitepapers

Know Your Customers, Know Your Data

Meeting challenges around regulation through creating flexible data governance frameworks. This paper is based on recommendations made by the industry experts who participated in the webinar “Overcoming KYC & Regulatory Challenges in Client Data Issues”, hosted by Fenergo.

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BrochuresDownload

Customer Due Diligence / Know Your Customer

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Case StudiesDownload

An Internal KYC Shared Services Model For A Global Bank

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