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Account Opening

Digital Account Opening

Fenergo’s Account Opening solution enables Financial Institutions to digitally transform the end-to-end account opening experience, empowering Financial Institutions to delight clients during every stage of their relationship.

  • Connects front, middle and back-office teams
  • Future-proofs and automates financial crime and compliance processes
  • Increases operational efficiencies
  • Streamlines the product and client lifecycles.

Optimize Account Opening with Fenergo

Highly flexible and fully configurable, Fenergo’s Account Opening solution digitalizes and automates the account opening process for financial institutions, increasing operational efficiencies and enabling the quick onboarding and management of products. With a focus on compliance, the solution ensures safe product onboarding and mitigates operational risk through robust data and document management with full audit capabilities.

Unlock the Power of Fenergo Account Opening

Fenergo optimizes the Account Opening process through automation and digitalization, improving operational efficiencies and enhancing the client experience.


Achieve Greater Operational Efficiencies

By reducing offline, fragmented or duplicated processes and unifying client data, financial institutions can achieve faster account opening times and improved data accuracy.


Transform Client Experience

By significantly reducing account opening times, system hand-offs and duplicated data, teams are more organized around completing high value work for clients.


Reduce Total Cost Ownership

Reduce the cost of managing and maintaining the CLM technology infrastructure and “cost to change” budget with Fenergo SaaS.


Unlock Revenue Potential

With a more efficient and enhanced client experience, financial institutions can focus on transforming low-value clients into high-value clients.

Fenergo Account Opening delivers

Digitalized Product Lifecycle Processes

A dynamic, automated solution enabling financial institutions to easily capture, track and maintain a product’s lifecycle, including authorized signers and related parties, resulting in increased efficiencies, visibility and simplified compliance.

Optimized Journeys

Fenergo provides a sophisticated workflow and case management solution which orchestrates and automates tasks, offering seamless and compliant account opening. Front, middle and back-office teams are connected throughout, significantly reducing manual handovers between functions.

A Single Client View

An enterprise-wide, single client view that ensures clean, centralized and accurate data and documents throughout the product and client lifecycle. This enables compliance and onboarding teams’ access to the same information and records, minimizing and streamlining the client touchpoints.

Connecting & Digitalizing the Ecosystem

Fenergo is a SaaS-native application that includes next-level API connectivity which rapidly accelerates transformation projects, setting your firm on the path to becoming digital-first. It delivers an omni-channel account opening experience with advanced integrations to a rich array of data providers, screening providers and technology vendors, centralizing data and documents to create a seamless account opening process.


What is Account Opening?

Account opening is the process by which a customer or client creates a new account with a financial institution. This includes but is not limited to bank accounts, checking accounts, deposit accounts or savings accounts.

The account opening process is designed to ensure that the client’s information is accurate and up-to-date, and that the account is set up in accordance with regulatory requirements and the financial institution's policies and procedures.

What is involved in the Account Opening Process?

The account opening process can vary across organizations but typically consists of product selection, data and document collection, risk assessment, ID&V and related party management. Most financial institutions are moving to a digital-first approach, whereby clients can complete most of the process via online channels.

Who uses Account Opening Software?

Account opening software is typically used by financial institutions such as banks, neobanks, insurance companies, credit unions and investment firms among others. These organizations use account opening software to streamline and automate the account opening process, making it faster and more efficient for both clients and employees.

Does Account Opening Require KYC?

While Fenergo’s solutions can be purchased separately, financial institutions are required to do a level of KYC due diligence on their clients to assess the risk involved in entering in the agreement and to ensure the account is not being opened by a person or company linked to illegal activities.

Want to Know More About Account Opening?

See how Fenergo Account Opening will help your organization to digitally transform the end-to-end account opening experience.