Two solution providers in regulatory compliance join forces to leverage complementary technologies.
Arachnys, the market-leading provider of cloud-based investigation management technology, partners with Fenergo, the leading provider of Client Lifecycle Management solutions for investment, corporate and private banks.
This partnership will provide seamless inclusion of Arachnys’s due diligence research and management solution within Fenergo’s end-to-end onboarding workflow, to add global screening and KYC data collection capability, ensure a seamless and integrated audit trail for external information, enable automated periodic review, and accelerate onboarding and compliance for new business.
Arachnys’s expertise in search, audit trail, and reporting will support Fenergo’s regulatory rules and risk scoring engine to offer financial institutions the most comprehensive solution for KYC and CLM.
Ed Sander, President of Arachnys, said: “We are delighted to partner with Fenergo to improve the visibility and tracking of due diligence processes across the customer risk lifecycle, eliminating the need to work across multiple systems. The harmony between Fenergo’s rules engine and Arachnys’s search, audit trail and reporting technologies will convert compliance into an accelerator for top line revenue.”
Marc Murphy, Fenergo’s CEO, commenting on the Arachnys partnership, stated:
“As Fenergo continues to expand and serve our client community, comprised of a global regulatory collective of 20,000+ risk and compliance experts, strategic partnerships with firms like Arachnys are key. Their use of robotics for investigative processes is cutting edge. Our community is seeking to deploy new technologies for automating regulatory compliance. Integrating our CLM suite with Arachnys’ cloud-based investigative management capabilities will enhance risk mitigation across our collective customer base.”
About: Fenergo is a leading provider of Client Lifecycle Management, AML/KYC Compliance and Client Data Management solutions for investment, corporate, commercial and private banks.
Every financial institution in the world is facing what we call a “perfect storm” i.e. spiralling levels of regulation which is putting additional pressure on banks to collect more data and documentation from clients, increasing the cost of compliance and seriously impacting operational efficiencies and client experience.
Fenergo’s software solutions enable financial institutions to solve the challenges of the “perfect storm” by streamlining the end-to-end Client Lifecycle Management processes (from regulatory onboarding, data integration, client and counterparty data management, client lifecycle reviews and remediation all the way to client offboarding etc.). Our solutions are proven to improve compliance, operational efficiencies, time to revenue and client experience.
Headquartered in Dublin, Ireland, Fenergo has offices in North America (Boston and New York), UK (London), Asia Pacific (Sydney, Singapore and Tokyo) and UAE (Abu Dhabi).
Source: Arachnys Press Release
