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.
CLIENTS WHO TRUSTOUR SOFTWARE SOLUTIONS
“We chose Fenergo’s solutions because they will enable us to meet the increasing complex regulatory frameworks with an efficient and client-centric onboarding experience.”
John Healy Managing Director, Head of Capital Markets Operations SunTrust Robinson Humphrey
“Fenergo’s Regulatory Onboarding solution provides us with an additional level of flexibility and enhances our ability to prioritize our compliance initiatives.”
Erica Benjamin Managing Director for Client Onboarding BMO Capital Markets
“We chose Fenergo to support regulatory onboarding across our Global Banking and Markets division. We wanted a solution that would support an efficient onboarding experience for all of our customers.”