Fenergo: Reinventing how banks and fintechs digitalize compliant customer journeys

Fenergo is helping financial institutions to accelerate business growth through innovation and digitalization.

From its bases in Ireland, Boston, New York, and Miami, Fenergo is helping American financial institutions to speed up and digitalize their processes, and increase self-serve capabilities, so they can deliver better customer experiences and leverage new technologies to provide innovative digital banking solutions.

 Bringing compliance and customer experience together

In a world that is increasingly interconnected and digital in nature, financial regulation aims to provide strong guardrails for financial institutions to transact and trade safely and securely, keeping bad actors out of the financial system.

Fenergo’s solutions help banks and fintechs to automate their compliance workflows and stay up to date with changing regulations, while delivering increased operational efficiencies that translate into a better digital client experience.

“Part of our technology is driven by regulatory requirements, but we also strive to help relationship managers to provide better customer experiences,” says Tracy Moore, Director, Regional Strategy (Americas) at Fenergo.

Fenergo streamlines tasks from initial client onboarding and Know Your Customer (KYC) and Anti Money Laundering AML processes, all the way through every event in the client lifecycle, providing a faster, automated and compliant end-to-end client journey.

Its API-first approach allows financial institutions to connect to the wider technology ecosystem and its solutions can be configured to suit the specific needs of the financial institution. It can be layered in on top of existing technology quickly, enhancing and joining up fragmented systems within any given bank.

“It started as a compliance tool but as banking has changed, it’s grown to be more than that. It’s what we call client lifecycle management. So we manage the client from the opening of the account through every event that may occur from new products that need to be onboarded over time, to continuous monitoring of the client and their transactions all the way to whenever the offboarding of that account may take place.”

With this behind-the-scenes support, financial institutions can create stand-out experiences for the customer and manage compliance with ease.

Helping US banks to prepare for the future

In a business where trust and compliance are vital, Fenergo’s global track record with leading banks such as Santander, BNB Paribas, Truist and Mizuho Americas, to name a few, provides assurance across a wide range of regulatory frameworks including Anti-Money Laundering, Know Your Customer, ESG, Tax (FATCA, CRS) and Prudential Regulations ( Dodd Frank, EMIR etc) .

Within the US, Enterprise Ireland has already helped Fenergo forge strong partnerships – working with strategic, product and delivery partners to provide solutions and services to its financial service clients.

“America is home to such a mix of financial institutions. We’ve already worked with many who are leading the digital change, such as those in mobile banking. But we also work with larger institutions that have been around for so long that digital transformation is more complex. In any case, our aim is to partner with them, whatever their digital needs may be, and get them where they need to be as quickly as possible.”

For US financial institutions, Fenergo’s AWS-supported solutions enable them to grow revenue by delivering a better client experience, digitalizing their interactions and delivering increased efficiencies in front, middle, and back-office operations.

“That’s the part that we love –partnering with clients to solve complex issues and deliver true return on investment.”

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