Client & KYC Remediation

Using advanced robotics & AI, Fenergo KYC Remediation efficiently manages the client data remediation and enrichment process to support AML, KYC, Tax, OTC derivative and Margin Requirements compliance.

Fenergo’s Client & KYC Remediation solution is a sophisticated case management technology platform that allows financial institutions to initiate an automated remediation workflow process to perfect and enrich existing client / counterparty profiles to support a wide range of compliance obligations.

The solution manages the remediation process from initial importation or integration of client and counterparty data (from external data providers to client data held in-house) all the way through to data / documentation collection and entity classification with both local and global regulations.

With Fenergo’s Client & KYC Remediation solution, financial institutions can:

1. Enhance overall risk management and ensure full compliance with all existing and imminent regulations.

In addition to supporting Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance efforts, Fenergo’s Client & KYC Remediation solution enables financial institutions to re-use this enriched client profile to support other compliance obligations such as FATCA and CRS under tax compliance requirements and Dodd-Frank, MiFID II, EMIR, Canadian and APAC OTC derivative regulations.

This represents a huge amount of time and effort for compliance and data management team, saving them from having to complete several remediation projects to support separate compliance streams. In addition, Fenergo’s rules-driven process increases overall risk management by reducing dependency on a personal knowledge-based process and introduces control points into the process stream.

2. Reduce the overall cost of compliance through automation and efficiencies.

By automating the remediation and data collection processes, financial institutions can reduce the cost and duration of remediation projects.

3. Improve revenue generation through upsell and cross-sell opportunities

With an enriched, up-to-date and accurate client / counterparty profile, financial institutions are empowered to re-use this information to support revenue generating campaigns through upsell and cross-sell opportunities.

Resources

Whitepaper

Regulatory Client Outreach & The Path to Compliance

In this paper, we explore the core operational and internal challenges that currently make the process of Regulatory Client Outreach a logistical nightmare for financial institutions. We also propose a best practice approach to regulatory client outreach by automating certain aspects of the client management process.

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brochure

Regulatory Client Outreach

Fenergo Regulatory Client Outreach enables financial institutions to automate the client outreach process necessitated by new or changing regulatory compliance obligations, ensuring a fully tracked, efficient and client-centric approach to collecting data and documentation.

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Blogs

  • Regulatory Client Outreach: 4 Best Practice Guidelines

    Just like taxes and death, regulation is becoming one of the certainties in life and has a long future ahead of it. This means that client outreach programs are becoming a staple in most financial institutions. The amount of regulatory client data that needs to be collected and kept up-to-date is bigger and more complex than current data gathering and client data management processes can handle, leading to manual, time-consuming and error-prone processes. Automation is sorely needed.

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  • The Path to Client Lifecycle Transformation is Paved with RegTech

    While regulatory compliance will remain at the forefront of banking operations, RegTech has enabled financial institutions to manage this and lead the charge towards a better, more efficient and client-centric way of doing business.

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