Fenergo launches next-generation Client & Counterparty Data Management solution
20 March 2013 – London, UK – Fenergo, the leading provider of Customer Lifecycle Management solutions for financial institutions in capital markets and investment banking, has announced the release of major enhancements to its Client & Counterparty Data Management solution.
The enhanced solution, which was unveiled at the Data Management Summit in London last week, offers financial institutions real-time solutions around legal entity data consolidation and cleansing (including data mapping, standardisation, augmentation, de-duplication, and remediation).
The solution is designed to help financial institutions improve the quality of their client and counterparty data in an effort to ready themselves for the onslaught of new regulations, such as FATCA, EMIR, Dodd-Frank and MiFID II) that will demand a much higher level of compliance, as well as the ability to identify and classify data accordingly. In addition, the solution also provides enhanced business intelligence to financial institutions looking to increase revenue through upselling and cross-sell opportunities in their onboarding processes.
Built on the foundations of legal entity data management, Fenergo’s Client & Counterparty Data Management solution achieves a logical, single source of data for all legal entities. It adopts a plug-and-play strategy that makes use of out-of-the-box adaptors for points of integration with leading system providers and enterprise bus providers such as trading and core systems, as well as third-party data providers, aggregators, and document repositories. With these adaptors, it can proactively capture, track, manage and visualize all legal entities, as well as the complex matrices of legal entity hierarchies (e.g. interlinked companies, directors, shareholders, guarantors and beneficiaries, etc.). In this way, the solution acts as a gatekeeper, shepherding data through the various interconnecting systems.
According to Marc Murphy, CEO of Fenergo, “The role of client and counterparty risk management is set to assume greater strategic importance in light of the new regulations coming on-stream over the coming months. As we’ve seen in our FATCA research from January, financial institutions are really struggling with gapped and siloed data, making the process of compliance much harder to achieve.
Our enhanced Client & Counterparty Data Management solution is designed to help financial institutions accurately measure risk exposure and comply with an ever-growing list of regulations. By making legal entity data as easily accessible as possible in the correct, standardised format and available on-demand, financial institutions can ensure they are meeting their obligations under all the various regulations”.
In line with its new product release, Fenergo has published a technical paper, Getting to Grips with Client & Counterparty Data Management, which examines how financial institutions can implement a fully optimised Client & Counterparty Data Management system. Once data is controlled, cleansed and connected to its associated entities, performing the compliance and regulatory checks becomes considerably easier. The paper also reveals different strategies that should be undertaken for data take-one and data integration. Download the Getting to Grips with Client & Counterparty Data Management paper by visiting www.fenergo.com.
For further information:
Fiona McLoughlin, Head of Marketing, Fenergo
T: +353 1 856 5915; E: fiona.mcloughlin@fenergo.com
About Fenergo (www.fenergo.com):
Fenergo is an award-winning provider of Customer Lifecycle Management software solutions for capital markets and investment banks. Its enterprise platform is comprised of three core software solutions – Client & Counterparty Data Management, Enterprise Compliance Management and Client Onboarding Lifecycle Tool. These solutions enable financial institutions to manage new and existing clients, data, documentation and regulatory requirements efficiently and profitably, ensuring full compliance with risk and regulatory obligations throughout the entire lifecycle of the client.