Shieldpay partners with Fenergo to achieve perpetual due diligence and scale operations
15th February 2023 – London – Fenergo, the leading provider of digital solutions for Know Your Customer (KYC) and Client Lifecycle Management (CLM), and Shieldpay, the market leading fintech solving high value, complex B2B payments, today announced their partnership. The companies are working together to realise a comprehensive CLM system and perpetual risk monitoring, as Shieldpay scales its operations.
Shieldpay provides secure B2B payments to legal and professional services firms, financial services, and technology platforms, focusing on high value and high-volume transactions. To date, Shieldpay has processed over $5bn of corporate funds for litigation settlements, M&A deals, real estate and secondary transactions through its digital platform.
Fenergo’s Software as a Service (SaaS) CLM and transaction monitoring solution enables Shieldpay to consolidate real-time client KYC and AML data in one platform, achieving perpetual customer due diligence and supporting ongoing regulatory policies. With this in place, Shieldpay can manage a fully digital due diligence process, which will streamline internal operations and allow for faster onboarding of new clients.
With an advanced 360-view of their clients and continuous risk monitoring on their platform, Shieldpay is leading the way in the payments industry for financial crime identification and prevention.
With both companies striving to bring genuine innovation in due diligence and payments, formalising a partnership together is part of the next exciting chapter in B2B payments on an international scale.
Commenting on the selection, James Stubbs, Head of Product, Shieldpay, said:
"As we continue to expand, it's crucial that we have partners that share common goals around making the payments landscape highly secure. Fenergo’s depth of experience in onboarding complex entity structures, transparency, and ability to automate client due diligence made it the standout vendor of choice.”
"Modern payments businesses like Shieldpay require CLM solutions that provide seamless automation, in addition to a complete view of their clients and ensure full compliance with international regulations," said Stella Clarke, Chief Strategy and Marketing Officer, Fenergo.
"Through our solution, Shieldpay can focus on delivering an exceptional overall client experience within a secure environment. We look forward to continuing to be a transparent partner as Shieldpay drives the B2B payments industry forward.”