Fenergo Ranks No 1 in Regtech Report
Fenergo Client Lifecycle Management Also Claims Top Spots for Compliance, Risk & Due Diligence Universal Tools and Workflow and Process Tools Categories
22nd August 2017 – Dublin, Ireland – Fenergo, the leading provider of Client Lifecycle Management software solutions for financial institutions spanning Corporate & Institutional, Business & Commercial and Private Banking, has ranked in the top position in the 2017 RegTech Performance Report for the second consecutive year due to a stellar year of global sales.
Furthermore, Fenergo’s flagship product, Fenergo Client Lifecycle Management, has ranked in the top position once again for Compliance, Risk & Due Diligence Universal Tools and ranked for the first time for Workflow and Process Tools.
The company racked up a 551% increase in average sales since last year’s rankings were published. Last year, the company had proven a 673% increase in average sales from the previous year.
According to Marc Murphy, Fenergo CEO,
“We are delighted to have scored so highly once again in this year’s RegTech Best Performers. Over the last five years, Fenergo has gained huge market traction and global growth. In the last financial year, we have signed ten multi-million-dollar deals across North America, Europe and Asia Pacific, and have gone live with 25 projects. The demand for our solutions is global – every bank in the world is facing the same regulatory challenges. The compliance pressure is immense on banks. In addition, they are now being driven by a digital transformation agenda. Fuelled by an increasingly competitive marketplace, this is an opportunity for banks to transform front, middle and back office operations in an effort to deliver a more streamlined and efficient experience for clients. Fenergo is the partner of choice for these banks because of our proven track record in delivering truly transformational Client Lifecycle Management solutions and projects that enable banks to comply with an increasing number of regulatory obligations efficiently and effectively, and deliver an exceptional and increasingly digital service to clients throughout their lifetime.”
The report provides regulatory technology buyers with the required performance data on RegTech solution providers in order to make an informed purchasing decision. The ranking is based on a custom formula comprised of year established, number of total users and product go-to-market dates.
The second edition of the RegTech Performance Report focuses on solutions that are gaining market traction across the world, defining the types of institutions are deploying them and why. The report also explores the scope of solutions and the areas of compliance addressed by them.
Tina Snelling, CEO of Market FinTech and author of the report, said,
“The leaders in RegTech are the ones that truly understand financial services and see technology as an enabler. Fenergo has, once again, demonstrated a strong model of innovation; one that is helping regulated firms reduce costs and drive improved effectiveness and efficiencies”.
In April 2017, Fenergo announced the creation of 200 new roles to its global operations in response to the immediate and global demand for its RegTech and Client Lifecycle Management solutions.
To access a complimentary copy of the report, please visit www.marketfintech.com
For more information on Fenergo Client Lifecycle Management software, please visit www.fenergo.com.
- Ends –
For more information:
Fiona McLoughlin, VP Marketing, Fenergo
T: +353 1 901 3600
E: [email protected]
Danielle Simko, Associate Account Executive
T: +1 646-661-4223
E: [email protected]
About Fenergo (www.fenergo.com):
Fenergo is a leading provider of Client Lifecycle Management software solutions for investment, corporate and private banks. Its solutions help institutions to efficiently manage the end-to-end regulatory onboarding and entity data management processes. Its 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 overall client experience. Fenergo’s recent accolades include: Chartis RiskTech100™ (third 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).
CLIENTS WHO TRUSTOUR SOFTWARE SOLUTIONS
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
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 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
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
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 with ABN AMRO
The global regulatory challenge is one that continues to evolve and grow. It’s more of a journey than a destination. Therefore, it is important to find the right solutions partner to travel along that journey with you and provide the guidance needed to navigate the path ahead. We found such a partner in Fenergo