Why put Fenergo on your radar?
Ovum’s report provides an overview of how Fenergo’s platform addresses the increasing challenge that today’s financial institutions encounter with ensuring platforms work alongside other systems to embed client compliance processes into digital banking or front-office/CRM applications.
Executive concern about regulatory fines and reputation damage is driving significant investment and overheads in client operations to meet regulatory requirements. However, this has often come at the expense of the client experience, with processes dominated more by onerous compliance demands than those from clients.
Key Areas of Strength:
- Fenergo offers an end-to-end platform for managing client-related compliance requirements throughout the client lifecycle.
- This can strongly improve the client experience, supporting digital transformation while ensuring regulatory compliance is achieved
- The platform has rich client data management capabilities to support the multi-faceted needs of the CIB sector, with regulatory rules across areas such as derivatives, KYC/AML, and tax
- The company has expanded to support the client compliance operations across commercial banking, retail banking, business banking, wealth, and asset management sectors
Fenergo provides a domain-rich orchestration platform that can support assisted and unassisted channels for higher levels of automation and stronger client experiences while delivering compliance control. The platform complements customer relationship management (CRM) and digital banking systems and should be evaluated as part of digital transformation programs, given that compliance process very much forms part of the client experience. Here, its strength is on the CIB side where it has historically focused, but the solution is also applicable for the FS sector because it has already done most of the “heavy lifting” given the complexities of this area.