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AML, KYC and Sanctions Fines for Global Financial Institutions Reach $5.6 Billion Mid-Year

Repercussions from high profile scandals and compliance failings hit US, Israeli, Nordic and German banks hardest.

Research & Reports
July 3, 2024
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Commercial banks tackle an evolving KYC landscape and streamlining operational risks, revealing technology automation gaps

Fenergo analysis reveals only 17% of commercial banks employ fully automated workflows for credit decisioning

Research & Reports
June 25, 2024
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Global financial institution AML and regulatory fines soar in 2023

Fenergo's annual findings on global financial institution enforcement actions reveal that the value of penalties imposed on firms surged 57% in 2023.

Research & Reports
January 10, 2024
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Fenergo KYC Trends Report: US Investment Banks Navigate Intensified Regulatory Reform, Struggle to Match Compliance Staffing for Robust KYC

US investment banks have less budget and workforce to devote to fighting financial crime and adhere to changing regulation, according to the 2023 KYC Banking Trends Report by Fenergo.

Research & Reports
November 15, 2023
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Fenergo KYC Trends Report: British banks grapple with more costly and lengthy KYC procedures

A global study of over 1,100 C-level executives across corporate and institutional banks found it cost on average $2,598 to complete a KYC review for a corporate client in 2023.

Research & Reports
November 15, 2023
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Fenergo Study: Emerging Risks in US Fintech Payments Since FedNow's Launch

AML talent shortages, inadequate transaction monitoring & deteriorating CX among fintech concerns with FedNow's rapid evolution.

Research & Reports
October 25, 2023
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Regulatory Penalties for Global Financial Institutions Drop by 88% in H1 2023

U.S. financial institutions continue to lead in fines, paying out 83% of the total penalty dollars, despite being cited for only 10% of the world’s regulatory violations.

Research & Reports
August 23, 2023
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Global Crypto AML & Regulatory Fines Surge in 2022

Fenergo's annual report found AML and related regulatory fines for crypto firms increased by 92% in 2022, while global financial institution fines fell.

Research & Reports
January 24, 2023
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Arduous client onboarding and KYC costing banks millions

The report KYC in 2022- A Final Frontier for Digital Transformation in Banking by Fenergo, provides in-dept analysis into the time and cost implications of regional and global banks spending valuable

Research & Reports
October 13, 2022
Infographic showing a $1.6 billion decline in global financial institution enforcement actions in the first half of 2022, with horizontal colored bars and a downward arrow symbol.

Global Financial Institution Penalties decline in H1 2022

Fenergo has released its half year annual findings on global financial institution enforcement actions which shows penalties have fallen by 25%.

Research & Reports
August 31, 2022
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Fenergo Reports Rapid Cloud Adoption in Financial Sector Digital Awakening

67% of all deployments of Fenergo’s CLM solution within financial institutions in 2020 will be on Fen-Cloud, as more financial institutions take advantage of cloud-based services.

Research & Reports
August 23, 2022
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AML, KYC & Sanctions Fines for Global Financial Institutions Top $36 Billion Since Financial Crisis

2019 brings an additional $10 billion in fines for non-compliance with AML, KYC and sanctions regulations as post-financial crisis impact bites.

Research & Reports
June 10, 2022

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