Fenergo Client Lifecycle Management is an end-to-end platform that enables banks to transform how they manage clients – from initial onboarding, to KYC/AML compliance, to client data management & KYC reviews
Overview
Fenergo Client Lifecycle Management solution is an enterprise platform that enables financial institutions to manage new and existing client data, documentation, and regulatory requirements, ensuring full compliance with risk and regulatory obligations throughout the entire lifecycle of the client.
Fenergo’s lifecycle approach to client management means that our solution goes beyond initial onboarding and takes a lifetime view of the client, enabling the financial institution to perform data refreshes, ongoing due diligence and use the centralized data to support new regulatory obligations, as well as upsell and cross-sell opportunities.
Fenergo’s Client Lifecycle Management solution has been proven to help financial institutions to:
Onboard clients quicker and more efficiently (from 34 weeks down to under 6 weeks*)
Improve time to revenue by up to 30%;
Ensure compliance across multiple, cross-jurisdictional regulatory frameworks;
Improve efficiencies and achieve significant operational cost savings;
Improve efficiencies and achieve significant operational cost savings
Improve Time to Revenue
Expedite client onboarding and ensure best-practice compliance with our rich regulatory rules engine and sophisticated workflow capabilities.
Enhance Client Experience
Provide a more consistent, digital experience across all customer-facing channels powered by a seamless, 360-degree view of each client.
Solve Regulatory Obligations
Ensure compliance with a wide range of global and regional AML, KYC and Tax regulations across the entire length of the client lifecycle.
RESOURCES
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The Future of Blockchain Based KYC Utilities
Regulatory compliance remains onerous, being heavily dependent on the collection, processing and management of client and counterparty data, documentation and agreements to comply with local and global anti-money laundering (AML), KYC, regulatory and tax-compliance processes.
Fenergo’s lifecycle approach to client management means that our solution goes beyond initial onboarding and takes a lifetime view of the client, enabling the financial institution to perform data refreshes, ongoing due diligence and use the centralized data to support new regulatory obligations, as well as upsell and cross-sell opportunities.
GDPR introduces 10 new rights to data subjects. Chapter III of GDPR, Section 1 provides for some of the transparency requirements placed upon data controllers as they communicate with data subjects. It explicitly refers to several Articles 13 – 22 and 34.
13 Points of Clarification for FinCEN Final Rule (CDD)
This guidance provides much-needed clarifications on a number of fronts, including beneficial ownership thresholds, account definitions, risk-based monitoring, treatment of non-US listed entities and pre-existing customers.
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.
“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.”
Nicola Ray Smith
Managing Director, Global Capital Markets Scotiabank
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 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.
Helène Erftemeijer
Bank-wide responsibility for CDD, client master administration and regulations ABN AMRO
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
Bernard Gavgani
Global Head of CIB IT and Operations BNP Paribas
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