In this paper, Fenergo outlines its unique approach to achieving an efficient and effective regulatory onboarding programme by adopting a horizontal approach to compliance management and a lifecycle approach to regulatory onboarding. This involves:
- marrying together the client and counterparty data management, compliance and client onboarding activities from across the institution and managing these in a cohesive, integrated manner on one platform solution.
- tearing down the siloed walls that exist between functional divisions and tapping into the value already held within the institution by enabling the re-usability of documentation and data held in various repositories across the bank.
- data cleansing, remediation and mapping of new data elements that support new regulatory classification structures. This will help to create higher quality data that, when entered into the Fenergo Compliance Engine, will ultimately determine the regulatory route a client / counterparty needs to travel in an effort to gain compliance with all relevant regulatory obligations.
- onboarding the client as efficiently and compliantly as possible to generate revenues immediately and, through the delivery of a high service level, encourage clients to onboard new, higher value products over time.
- the automation of continual data and documentation updates, which can trigger new compliance events (for sufficiently material changes) and the re-usability of data and documentation for faster onboarding for future cross-sell and upsell opportunities.
In this product whitepaper, Regulatory Onboarding – the Fenergo Way, we’ll describe in detail how our solutions and approach to regulatory onboarding is helping leading financial institutions across the world manage all their data, compliance and onboarding requirements on a single platform, reducing the cost of compliance and increasing the overall return on technology investment.
About the Author
Founder and CEO, Marc is responsible for Fenergo’s business operational strategy and corporate direction. Marc was recently named a Fintech 100 Most Influential Leader in recognition of the impact that Fenergo’s technology is having on the way financial institutions manage their compliance obligations and operational requirements.