31 January 2018 – New York, London and Dublin – Arachnys and Fenergo today announced a joint partnership. Arachnys, the market-leading provider of cloud-based investigation management technology, partners with Fenergo, the leading provider of Client Lifecycle Management solutions for investment, corporate and private banks.
This partnership will provide seamless inclusion of Arachnys’s due diligence research and management solution within Fenergo’s end-to-end onboarding workflow, to add global screening and KYC data collection capability, ensure a seamless and integrated audit trail for external information, enable automated periodic review, and accelerate onboarding and compliance for new business.
Arachnys’s expertise in search, audit trail, and reporting will support Fenergo’s regulatory rules and risk scoring engine to offer financial institutions the most comprehensive solution for KYC and CLM.
Ed Sander, President of Arachnys, said:
“We are delighted to partner with Fenergo to improve the visibility and tracking of due diligence processes across the customer risk lifecycle, eliminating the need to work across multiple systems. The harmony between Fenergo’s rules engine and Arachnys’s search, audit trail and reporting technologies will convert compliance into an accelerator for top line revenue.”
Marc Murphy, Fenergo’s CEO, commenting on the Arachnys partnership, stated:
“As Fenergo continues to expand and serve our client community, comprised of a global regulatory collective of 20,000+ risk and compliance experts, strategic partnerships with firms like Arachnys are key. Their use of robotics for investigative processes is cutting edge. Our community is seeking to deploy new technologies for automating regulatory compliance. Integrating our CLM suite with Arachnys’ cloud-based investigative management capabilities will enhance risk mitigation across our collective customer base.”
Arachnys significantly simplifies the process of conducting robust investigation management by automating and calibrating manual data collection and risk screening into clear, auditable investigative processes.
By applying robotic process automation Arachnys reduces duplication of effort, ensures procedural and process compliance in all geographies and for all populations of customers, and provides richly detailed reports, metrics and insights, ensuring CDD, KYC, EDD & AML processes are applied correctly.
Fenergo is the leading provider of Client Lifecycle Management software solutions for Corporate & Institutional, Business & Commercial and Private banks. Its solutions help institutions to efficiently manage the end-to-end regulatory onboarding and entity data management processes. The intelligent rules-driven solution ensures compliance with multiple regulatory frameworks and supports the collection, centralization and sharing of client and counterparty data and documentation across the institution. By expediting compliance and improving operational efficiencies, Fenergo’s solutions can onboard clients faster, improve time to revenue and enhance the overall client experience. Fenergo’s recent accolades include: Chartis RiskTech100™ (fourth consecutive year, rising 25 places in 2017); Top Performer in RegTech Performance (Banking Technology / MarketFintech, 2017 and 2016); Best Compliance Product (Sell-Side Technology Awards 2016), FinTech Forward Company to Watch (American Banker, 2015), Chartis RiskTech100® (2016 and 2015) and Best Enterprise Data Management Initiative (Inside Reference Data, 2014).
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