Skip to main content

Fenergo and Deloitte join forces to deliver greater efficiency through client lifecycle management automation

Published Date

8th August, Dublin, Ireland: Fenergo, the leading provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring (TM) and Client Lifecycle Management (CLM), and Deloitte Ireland, today announce an agreement to deliver Fenergo’s AI-powered CLM solutions to financial institutions across EMEA. 

The alliance combines Fenergo’s best-in-class technology with Deloitte’s technology-enabled business transformation expertise to create a Centre of Excellence for CLM. The collaboration will empower financial institutions and corporates to better address evolving KYC, anti-money laundering (AML) and environmental, social and governance (ESG) regulatory obligations while driving operational excellence and enhancing end-to-end customer experiences. 

The alliance responds to increasing demand for optimised digital client onboarding and the need to drive efficiency across KYC and AML operations. Fenergo’s research has found that slow and inefficient onboarding processes have caused nearly half (48%) of global financial institutions to lose clients. To address this challenge, Fenergo and Deloitte Ireland will deploy AI-powered Software as a Service (SaaS) CLM, which will digitalise client onboarding and lifecycle management journeys, and in turn accelerate the time it takes to generate revenue while enabling firms to better identify and mitigate risk. 
 
"We’re excited to collaborate with Deloitte Ireland to deliver our AI-powered CLM solutions to financial institutions and corporates across EMEA," said Matt Edwards, Global VP of Partnerships and Alliances, Fenergo. “With the unrelenting evolution of global regulation and the need for firms to simultaneously drive growth, the demand for our CLM solutions has risen exponentially and expanded beyond financial services. With the addition of AI, the transformative power of CLM is even more accessible and rapid. Our alliance agreement with Deloitte will enable us to accelerate implementation while helping firms build a more sustainable and compliant future, while delivering a step change in customer experience." 

“Transforming organisations by using AI is something we’re committed to in Deloitte. Our collaboration with Fenergo and the launch of our Centre of Excellence illustrates our focus on providing innovative technology solutions to our clients that drive competitiveness and efficiency," said Graham Healy, Consulting Partner, Deloitte Ireland. “We believe our mutual clients will also benefit from our broader expertise across financial advisory, business change and target operating model services.”

Financial institutions will also benefit from Fenergo's unrivalled Perpetual KYC capabilities which streamline and automate periodic KYC review cycles by continuously monitoring client profiles for risk using real-time data. Firms can also leverage Fenergo to more effectively manage ESG requirements in response to growing demand for sustainable and socially responsible investing.