Fenergo Helps Financial Institutions Improve Efficiencies with New Suite of Client Lifecycle Management Tools
Dublin, 22nd May 2019 – Fenergo, a leading provider of digital Client Lifecycle Management (CLM) solutions for financial institutions, today announces the launch of Digital Client Orchestration, a suite of CLM tools that integrates front, middle and back office systems using an API-led approach.
A recent Fenergo survey found that over one-third of banks have lost customers due to inefficient or slow client onboarding, costing them $10bn in lost revenue per annum. To counter this challenge, Fenergo Digital Client Orchestration expedites the onboarding process, enabling efficiencies of up to 82% while enabling staff to focus on more value-add tasks.
Fenergo’s Digital Client Orchestration provides a steel thread that digitally directs the customer journey through all internal approval processes, ensuring fast, compliant onboarding, from any front-end channel including mobile, web, desktop and in-person. The suite of tools harness automated workflow rules to eliminate manual data entry errors. Underpinned with a centralized data management approach, financial institutions can achieve a single client view throughout the lifecycle whilst building customer loyalty through optimised customer experiences.
Marc Murphy, CEO, Fenergo, said:
“It’s now or never for banks and financial institutions that haven’t yet embraced digital. The beauty of an API-led approach enables banks and FS institutions to achieve true Digital Client Orchestration by delivering frictionless end-to-end customer journeys to any channel, significantly improving the customer experience and reducing operational inefficiencies.”
Fenergo Digital Client Orchestration is built upon the core Fenergo CLM building blocks including Know Your Customer (KYC) compliance, Anti Money Laundering (AML) screening, global derivatives reform rules, tax compliance, client risk assessment, account opening and client master data.