Fenergo’s global growth and market acceleration in financial technology is recognised with FinTech award
5th November 2018, Dublin – Fenergo today announced that it won the Deloitte Technology Fast 50 FinTech Award in association with Silicon Valley Bank, a ranking of the 50 fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over four years.
Fenergo CLM delivers a standardized global Know Your Customer (KYC) policy and procedure. The robust, out-of-the-box regulatory framework spans Anti-Money Laundering (AML), KYC and other KYC classifications (such as MiFID II, FATCA, CRS, Dodd-Frank, EMIR, Canadian Derivatives, Margin Requirements, The Volcker Rule / Loi de Separation Bancaire, QDD/Hire Act (871M), Sec 15a6*, GDPR*) etc. Client and counterparty data and documentation are centralized, facilitating global regulatory rules and increasing the transparency of information across the KYC process, creating a single view of the client. This enables available client information to be reused, reducing the need for superfluous client outreaches.
Marc Murphy, CEO, Fenergo, commented,
“We are very pleased to be recognised by Deloitte for the FinTech award category. With increasing regulatory change and the pressure to digitise the end-customer experience, we are seeing accelerated demand for our award-winning Client Lifecycle Management (CLM) solution amongst financial institutions. This award is testament to our efforts in meeting this demand, enabling our customers to gain a competitive advantage in a highly disruptive marketplace.”
Fenergo has experienced rapid growth year on year since 2014. Revenues grew 967% from €6 million in the year ending March 2014 to revenue of €58 million for the year ending March 2018.
The awards, now in their 19th year, rank Ireland’s fastest growing technology companies and recognise indigenous technology companies that have demonstrated exceptional growth in turnover in the last four years.
Announcing the winners at the Deloitte Technology Fast 50 programme, David Shanahan, Partner, Deloitte, said,
“Congratulations to our 2018 Deloitte Technology Fast 50 companies. Through these awards, we recognise Irish technology companies that are at the cutting edge, using technology for progress, to address the challenges that we all face and to create opportunities, both for themselves and for those that use their products. We know that these companies are operating in an uncertain international marketplace. And yet they are prospering against this backdrop – in fact, it was particularly evident this year that the vast majority of revenues for the ranking companies are coming from export markets. This demonstrates the impact Irish indigenous tech companies are having in global markets.”
Details of the full Deloitte Technology Fast 50 ranking list are available to download at www.fast50.ie.
Fenergo is the No. 1 provider of Client Lifecycle Management (CLM) software solutions for financial institutions, counting 26 of the top 50 financial institutions in the world as clients. Its award-winning CLM suite transforms how sell-side banks and buy-side firms manage clients - from initial onboarding to KYC/AML and regulatory compliance, to client data management and ongoing lifecycle KYC reviews and refreshes. Fenergo CLM empowers financial institutions to deliver a faster, more efficient and compliant client experience and achieve a single client view across channels, products, business lines and jurisdictions.
Its rules-driven solution ensures compliance with multiple global and local regulatory frameworks including AML, KYC, Tax (CRS, FATCA, 871M), OTC Derivatives (EMIR, Dodd-Frank, MiFID II, Margin Requirements) and data privacy rules (GDPR). It supports the collection, centralization and sharing of client and counterparty data and documentation across the institution and deploys an API-first approach to advanced integration with a host of external KYC, AML and entity data providers, KYC and industry utilities. The solution is underpinned by next generation Artificial Intelligence, Robotics Process Automation and Machine Learning technologies, using advanced OCR and NLP capabilities to extract information, expedite compliance and improve operational efficiencies.