Intelligent Automation in Capital Markets - An independent report by Celent featuring FenergoDownload Report for free
This independent report by Celent looks at Fenergo and other vendors and their role in helping capital markets firms achieve a smarter middle and back office.
Intelligent Automation in Capital Markets, by Celent Senior Analyst, Arin Ray, provides a detailed overview of solutions available to capital market firms seeking to improve operational efficiencies in the middle and back office. The report addresses the critical need for improved levels of automation and straight-through processing in this area.
The report covers key research questions including:
- What factors are driving the need for smarter automation in capital markets?
- What are the use cases of intelligent automation in middle and back office?
- Who are the leading providers of intelligent automation solutions?
Fenergo - Automating Onboarding and Client Lifecycle Management
Fenergo has created a suite of robotics and artificial intelligence solutions designed to digitalize various client lifecycle management processes. Fenergo RPA is a rules-driven process and helps in different ways:
- Client data capture: Fenergo bots automate the client data entry process and initial verification, passing relevant client records to client services if data gaps prevail. Fenergo Data Integration Manager automatically consumes data and documents from multiple vendors and utilities speeding up the time for account setup and client or product onboarding. Fenergo has full RPA capabilities for upstream and downstream data integrations.
- Regulatory client classification and evidencing: Fenergo’s rules engine and AML solutions deploy RPA to assign categories to client data (e.g., client type, jurisdiction, relationships, associations), providing the basic rules and requirements for determining client classifications for several regulations (e.g., AML, KYC, FATCA, CRS, Margin Requirements, MiFID II, etc.). The rules engine outlines all data and documentation required to evidence the compliance process based on the relevant regulatory framework.
- AML and risk rating: Fenergo assists banks in assessing client risks by assigning key risk ratings and weighing the overall threat to the business. Fenergo provides data-driven solutions leveraging AI to assist in evidence-based decision-making related to client profiling, AML alert types, PEPs and sanctions, leaving higher risk alerts and clients for expert professionals to check.
- Document processing: Fenergo AI bots aid the digitalization of client documentation, using machine learning algorithm to classify and extract relevant data from emails and documents with provision for users to complete final review.
- Workforce management: Captured statistics for workforce management offer insights to determine areas for automation and provide a foundation to build a regulatory knowledge base.
- Hierarchy Manager: In early 2019, Fenergo will launch a Hierarchy Manager solution which will deliver enhanced performance, data capture, visualization, and interactions across the client.
Celent is a research, advisory, and consulting firm focused on the application of information technology within the global financial services. Their analysts create independent coverage and in-depth research on Banking Insurance, Securities & Investments, Risk and Wealth Management.
With a presence in 17 countries, and main offices in the US, the UK and Japan, Celent reports have become a trusted source of information for the capital market.
CLIENT ONBOARDING THE FENERGO WAY
Discover how financial institutions can onboard clients quicker and more efficiently by centralizing client data and documentation and comply with a range of regulatory compliance obligations on a single platform.Watch now
CLIENTS WHO TRUSTOUR SOFTWARE SOLUTIONS
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
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
Fenergo’s Regulatory Onboarding solution provides us with an additional level of flexibility and enhances our ability to prioritize our compliance initiatives.