Singapore/Hong Kong, 22 November 2022 – Fenergo was awarded "Best Solution - Client Lifecycle Management" and "Best Solution - KYC & Onboarding" in the 5th Regulation Asia Awards for Excellence 2022 at an in-person ceremony on 22 November 2022.
In the Client Lifecycle Management category, Fenergo was recognised for its CLM platform, which manages all the events in the client lifecycle end-to-end, including initial prospecting and digital account opening through to KYC refreshes, new product onboarding, and ongoing due diligence. Over 80 financial institutions are using the platform, as well as firms in the asset management, asset servicing, wealth management, payments and fintech spaces.
Fenergo offers a SaaS version of its CLM platform, which digitally transforms and streamlines end-to-end client lifecycle management processes, and enables firms to comply with regulations in over 120 jurisdictions. The platform leverages a regulatory rules engine which automatically identifies in-scope regulations and determines the data and documentation required to support and expedite compliance.
During the year, Fenergo also launched FinCrime Risk, a SaaS solution that centralises, automates and standardises client risk assessments and enables streamlined AML compliance across business lines and jurisdictions. Fenergo has also introduced a new perpetual KYC solution, Smart Review, which streamlines KYC review processes It has also introduced a new offering that enables firms to determine the ESG credentials of clients and their supply chains.
In the KYC & Onboarding category, Fenergo was recognised for Fenergo KYC, an API-first solution that can be deployed standalone or as part of the full CLM platform. It includes functionality for identity verification, data and documentation storage, UBO unwrapping, AML screening, and risk assessments. The solution’s business and regulatory rules engine comes pre-packaged with data, document, and ownership and control rules for all entity types.
Judges on the Regulation Asia awards panel highlighted Fenergo KYC’s pre-built integrations with external data providers to validate organisation structures, a visualisation tool for viewing entity relationships, its no-code user interface that empowers financial firms to easily make configurations when needed, and its new SaaS deployment option. “The solution presents a very solid proposition and is already in use at many of the world’s largest banks,” said one judge on the awards panel.
About the Regulation Asia Awards for Excellence 2022
The Regulation Asia Awards for Excellence recognises financial institutions, technology companies, legal and consulting firms, exchanges and other players that help ensure the highest regulatory compliance standards are upheld in the financial industry. Each year, senior industry practitioners serve on a judging panel to help assess and score each submission to determine the winning entrants.