KYC & Onboarding for Retail Banking

Transform & Streamline Customer Onboarding

Customers’ expectations are constantly growing and they demand a seamless digital experience. Banks not only need to complete their current digital transformation initiatives but also take them a step further by leveraging the latest, scalable technology which will future-proof them beyond current trends and customer expectations.

Additionally, banks are competing with new digital entrants who are positioned to offer streamlined, efficient onboarding and a wider variety of products.

With a primary focus on cash and lending products, retail banks must prioritize efficient account opening and accelerate lending timelines.

The KYC & onboarding process offers you the chance to create a valuable first impression with your customers. This needs to be efficient, secure and customer-centric.

Fenergo Customer Lifecycle Management (CLM) enables retail banks to automate and straight through process onboarding and KYC due diligence processes at scale. Leveraging integrations to market leading providers across open banking, entity screening and credit bureaus to straight-through process customer lifecycle events.

Redesign the Retail Banking Experience

Fenergo CLM leverages the latest in cloud technology including artificial intelligence and straight-through processing to create a flexible and modern banking experience, while ensuring consistent service quality during peak times or rapid growth phases.

Automation First Approach

Shifts the focus away from complex, repetitive work to create a more satisfying work environment for employees. Fewer mistakes leads to improved accuracy and reliability for customers.

Faster Time to Revenue

By reducing onboarding times and abandonment rates during account opening and lending, retail banks can achieve a much faster time to revenue.

Build Brand Reputation & Customer Loyalty

Faster, more secure digital onboarding enhances brand reputation and nurtures customer loyalty.

Unlock Revenue Opportunities

Enhanced brand reputation, greater customer insights and flexible product portfolios enables account growth opportunities and attracts new business with a greater competitive advantage.

Cost Reduction

Built on AWS Cloud, Fenergo clients experience substantial savings, while still being empowered with the latest features and technology. Fenergo’s no code configuration drastically reduces application, support and configuration costs.

Fenergo CLM for Retail Banks Features:

Automated Due Diligence Processes

Simplify and accelerate your KYC process using Fenergo’s automated due diligence solution. Automated AML screening, risk assessments, ID&V and data sourcing not only simplifies your due diligence process, but also provides robust compliance at speed and at scale.

Channel Agnostic Platform (API First)

Fenergo’s open API architecture enables retail banks to provide their customers with a consistently superior experience. Clients can choose to use the Fenergo UI or use simply use Fenergo to drive a channel UI of their choice.

Automated Customer Journeys

Fenergo CLM enables banks to provide automated, seamless and compliant digital account opening and lending services. Where needed, applications are expedited through straight-through processing capabilities, empowering retail banks to delight their customers during every stage of their relationship.

Digital Self Service Channels

Including digital identification and verification (ID&V), eSignature and an omni-channel approach to digitally source information from the customer.

Centralized Ecosystem

Utilizing Fenergo’s API-first architecture and integrating customer communication channels into Fenergo’s centralized CLM platform provides a secure, modernized ecosystem that avoids repetitive, time-consuming work.

With Fenergo CLM, bank teams are connected across multiple channels throughout the onboarding, and across the customer lifecycle, creating a single source of truth for your organization.

Enterprise-Wide, Single Customer View

Fenergo CLM delivers an enterprise-wide, single customer view that ensures clean, centralized customer data and documentation are maintained throughout the customer lifecycle journey. This central repository enables customers and bank employees the ability to work off one record and is available for consumption by other applications within the banking ecosystem.