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Silicon Valley Bank - Reimagining Onboarding for Startups

SVB turned to Fenergo to reimagine the end-to-end client journey and develop a new solution for client onboarding.

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In partnership with Fenergo and Amazon Web Services (AWS), Silicon Valley Bank developed a new onboarding process aligned with the unique needs of startups in the technology and life sciences industry.

Over the past four decades, Silicon Valley Bank (SVB) has built a dominant market share in technology and the life sciences. The future of its legacy was jeopardized in March 2023 when SVB was put under FDIC receivership and sold to North Carolina-based First Citizens Bank (FCB).

Despite 2023 proving to be a tumultuous year for the bank, SVB has quickly regained its footing and returned to the business of providing world-class banking to its innovation economy clients.
In its mission to accelerate the work it began in 2019, SVB set out to reimagine the end-to-end client journey and develop a new solution, known as Digital Client Acquisition and Onboarding.

SVB turned to Fenergo, the leading provider of client lifecycle management and regulatory compliance solutions. Fenergo lists several Tier 1 and Tier 2 banks worldwide as clients, including Santander, Truist, Northern Trust, CIBC, and BNP Paribas. Thanks to a dynamic workflow that supports different segments, product, and jurisdictions in real time, SVB has reduced onboarding timeframes by half.

To host the new platform for Fenergo’s software-as-a-service (SaaS) solution, SVB called on Fenergo’s infrastructure partner, AWS. Fenergo is a member of the AWS Independent Software Vendor Accelerate Program and is available on AWS Marketplace. The solution is integrated via APIs with multiple systems and channels, and uses logic-based business rules to seamlessly orchestrate client onboarding journeys. 

Fenergo’s SaaS-native digital client onboarding solution features powerful automation to increase efficiencies, reduce onboarding times and time-to-revenue, enhance client experience, and maintain regulatory compliance. By leveraging the latest cloud-based technologies, the resulting solution is flexible, scalable, and secure.

Learn more about the Fenergo - AWS relationship.