Take advantage of Fen-Cloud, the Fenergo Cloud Managed Service, to improve Customer Experience, Productivity, Upgradability and Configurability for your Client Lifecycle Management Systems.
Historically, financial services have been slow to adopt cloud technology owing to a perceived lack of data security and control. Building and maintaining in-house systems was considered the safest way of protecting business-critical sensitive data and applications.
However, key drivers today are moving financial institutions towards cloud adoption, and, as the financial services industry has addressed many of these cloud concerns, banks are now beginning to enjoy the advantages of cloud-based services. Research by Fenergo found that 56% of global financial institutions are prioritizing cloud in the next 12 months and 57% have started implementation.
To address this shift, Fenergo has launched Fen-Cloud, a cloud managed service offering that hosts Fenergo’s Client Lifecycle Management solutions in the cloud. This offering allows financial institutions to quickly get their CLM solutions up and running, while still maintaining the flexibility of customer-specific configuration, interfaces, and processes.
Features of Fen-Cloud:
Industry Best Practice for Client Lifecycle Management
Fenergo’s Client Lifecycle Management software solutions are now available via Fen-Cloud Cloud Managed Service, a best-in-class solution, built in close partnership with our active client community in The Americas, APAC and EMEA.
Ensure Compliance by Design Throughout the Client Lifecycle
Fenergo offers a comprehensive, purpose-built, packaged solution for regulatory compliance across 70+ jurisdictions globally, spanning global and local rules and regulations around AML/ KYC, Tax (FATCA, CRS, 871M), OTC Derivative Rules, MIFID II rules and data privacy regulations such as GDPR and CCPA.
Secure, Fast, Flexible Deployment
Fen-Cloud is deployed on a virtual private cloud and leverages cloud best practice with a secure and compliant foundation, utilizing 3rd Party security tools and Cloud Native Security which aligns closely to customer security and compliance standards, including data level encryption at-rest and in-flight.
Best Practice Cloud Infrastructure
Fen-Cloud offers best practice cloud infrastructure encapsulating key features including Data Management, Contingency Management, Policies & Internal Governance, Identity & Access Management, Incident Management, Compliance & Monitoring Measures.
Fen-Cloud helps to reduce the IT Infrastructure total cost of ownership of ensuring uptime, maintaining hardware and networking equipment, or replacing old equipment.
Availability & Scalability
Fen-Cloud managed cloud service is customizable and can scale to fulfill the expanding requirements of your client lifecycle management solutions.
Accelerating Implementation Times
Fen-Cloud provides elasticity and scalability, so you can ramp up new initiatives quickly.
Support for Disaster Recovery
In the event of a catastrophe, your data will be secure and your business can resume with minimum interruption. Fen-Cloud provides a consolidated disaster recovery infrastructure, reducing costs and increasing manageability.
Banking on the Cloud for Client Lifecycle Management
Explore the world of cloud-centric banking and the benefits it can deliver to commercial, business, investment, corporate, private and retail banking and the key considerations when migrating from on-premise to cloud.
Our main ambition is to streamline the end-to-end client lifecycle management process – from onboarding to regulatory compliance to lifecycle reviews – for all of our jurisdictions and to standardize processes and procedures across different divisions. Fenergo will help us to achieve operational efficiencies and improve our customer experience, whilst maintaining the highest level of regulatory compliance across the globe
Emma Rey Gállego
Head of Customer Experience-Onboarding in CIB BBVA
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.
Managing Director, Head of Capital Markets Operations SunTrust
Fenergo’s Regulatory Onboarding solution provides us with an additional level of flexibility and enhances our ability to prioritize our compliance initiatives.
Managing Director for Client Onboarding BMO Capital Markets
We chose Fenergo for both their deep, out-of-the-box CLM functionality and their v8 technology that is a good fit with our own modernized technology landscape. I look forward to working with the Fenergo team and their wider client community to input into the continually evolving product and regulatory roadmaps
Global Head of CIB IT and Operations BNP Paribas
We selected Fenergo’s Client Lifecycle Management software to enable us to manage the CDD / KYC processes from client onboarding to client off-boarding and all the KYC / CDD compliance and lifecycle events (periodic and event-driven reviews) that occur in between. A core part of our business transformation program will involve creating an internal centralized KYC target operating model that will help us to simultaneously improve the client experience and reduce the cost impact of the regulatory KYC activities. Fenergo is the technology platform that will underpin this initiative.
bank-wide responsibility for CDD, client master administration and regulations with ABN AMRO