Know Your Customer (KYC)
Fenergo KYC is an out-of-the-box, rules-driven solution for all Know Your Customer policy requirements to support regulatory needs across multiple jurisdictions and business lines
Fenergo’s Know Your Customer (KYC) is a single, integrated technology platform that efficiently manages all KYC policies and regulatory compliance requirements from initial take-on right through the entire client lifecycle, including regular, ad-hoc and event-triggered reviews, as well as data and documentation refreshes.
Based upon a sophisticated Regulatory Rules Engine, Fenergo KYC provides a global KYC policy that offers a standardized and consistent approach to KYC, which, in turn, can be customized to suit local Customer Due Diligence (CDD) requirements.
The Fenergo solution uses dynamic decision tree intelligence to determine the regulatory journey of the client including all the regulations, KYC questionnaires, classifications and risk assessments that need to be adhered to and performed. Furthermore, it also determines all of the client and counterparty data and documentation that is required to support the KYC and regulatory compliance obligations.
With Fenergo KYC, you can
- Implement a rules-driven, risk-based approach to KYC compliance that efficiently focuses resources on higher risk clients;
- Achieve compliance with evolving AML/CTF legislation and ensure a timely and efficient client onboarding;
- Automate risk-scoring processes throughout the lifetime of the client, minimizing overall risk to your institution;
- Understand the true nature and purpose of the account being set up, investigate sources of wealth and define Ultimate Beneficial Ownership;
- Gain a clear view of the size of risk presented to your institution from a financial, regulatory and reputational perspective;
- Lower the cost of ownership with a flexible solution that can be adapted to respond to a changing regulatory environment.
The solution is available as a standalone module or can be fully integrated with the Fenergo Client Lifecycle Management solution.
CLIENTS WHO TRUSTOUR SOFTWARE SOLUTIONS
“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 with 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