Regulatory Rules Engine
Fenergo Regulatory Rules Engine brings together - in one repository – all the embedded content, intelligence and rules required to support best practice compliance with global AML and KYC, tax global entity, classification and OTC derivatives-based regulations.REQUEST A DEMO
The ever-evolving regulatory landscape is forcing financial institutions to solve multiple regulations and compliance rules simultaneously. Each of these regulations dictate a different set of data, documentation and regulatory classification requirements, putting increased pressure on already stretched compliance, data management and onboarding teams.
Fenergo Regulatory Rules Engine provides an out-of-the-box repository of rules, which can be easily configured by financial institutions to future-proof against evolving regulatory and operational requirements. The Rules Engine supports the regulations required for investment, corporate and private banks to be compliant, including:
KYC and AML Regulations e.g. Patriot Act, 3rd and 4th EU Anti Money Laundering Directive, FINRA Rules etc.;
Tax Regulations e.g. Common Reporting Standards, FATCA, UK CDOT and associated inter-governmental agreements;
Global OTC Derivative Regulations e.g. Dodd Frank (US), EMIR (EU), as well as emerging OTC derivatives rules in APAC (ASIC, HKMA, MAS) and Canada.
Market Reform Rules e.g. MiFID II
Based on a few key data points (legal entity type, jurisdiction, legal entity role, booking entity and products), the Fenergo Regulatory Rules Engine dictates
- the data that needs to be captured;
- the documentation that needs to be collected;
- the KYC questions that need to be answered;
- all the regulations that need to be supported;
- the risk assessment that needs to be undertaken;
- the classifications that needs to be completed.
By understanding the data and documentation needs upfront for all clients, financial institutions can ensure a faster onboarding process, with fewer requests for information from clients.
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.