10 December 2014, Dublin, Ireland – Fenergo has today launched a series of five online videos featuring senior members of their management team discussing the issues that are keeping COOs and CEOs of investment banks awake at night – including regulatory compliance, centralizing client and counterparty data and onboarding technologies.
The Perfect Storm in Investment Banking
Marc Murphy, Fenergo CEO, describes the perfect storm taking place in the world of investment banks / capital market firms with new and evolving regulations putting increased pressure on compliance and data teams in financial institutions. The increased demands on compliance teams means that it now takes longer to onboard new clients, affecting the ability of the bank to generate revenues. Longer onboarding times is also having a negative impact on operational efficiencies and client experience, with client abandonment a serious threat to the current and future revenues of the bank.
Technology Underpinning Fenergo’s Solutions
Niall Twomey, Fenergo’s Chief Technology Officer, describes Fenergo’s Technology Architecture and Infrastructure that underpins its award-winning Client Lifecycle Management, Regulatory Onboarding and Client & Counterparty Data Management solutions. Niall goes on to explain the out-of-the-box functional components that comprise Fenergo’s technology stack and outlines what it is that makes Fenergo truly unique.
The Emerging Need for a Standalone Regulatory Rules Engine
Joe Dunphy, VP Product Management with Fenergo, talks about the emerging necessity for a standalone regulatory rules engine to support the compliance and entity data management processes. Many financial institutions that have invested heavily in BPM (business process management) technologies in the past are struggling to adapt to the new regulatory rules being introduced. This is forcing them to look to the market to procure point solutions to aid compliance with specific regulations. Joe states that a Regulatory Rules Engine can help protect past and current technology investments by integrating with existing BPM and compliance technologies to comply with newer and evolving regulations that are coming on stream (such as global and local KYC and AML regulations, FATCA, CRS, Dodd-Frank, EMIR, MiFID II, Canadian and APAC OTC derivative rules etc.).
Regulatory Onboarding and What It Means for Investment Banks
James Monaghan, Fenergo Pre-Sales, explains what Regulatory Onboarding means for investment banks and capital market firms. He goes on to describe how Fenergo’s Regulatory Onboarding solutions works and the benefits it can deliver including regulatory compliance, operational efficiencies, positive client onboarding experience and improved time to revenue.
The Importance of Centralizing Client & Counterparty Data
Finally, Andy Mantzios, Fenergo’s newly appointed VP Services for APAC, discusses why investment banks and capital market firms should centralize Client & Counterparty Data Management to achieve a single client view that will support institutional regulatory compliance and other revenue-generating activities (e.g. upsell and cross-sell activities).