Skip to main content

Fenergo Launches the First All-in-One KYC, Onboarding and Trade Request Management Platform for the Energy and Commodities Sector

Modernizing energy and commodities trading operations with the first unified platform for KYC, onboarding and trade request management, delivering seamless efficiency, enhanced transparency, and unlocking business growth opportunities

New York, NY, - February 5, 2025 – Fenergo, the leading provider of AI-powered solutions for Know Your Customer (KYC), Anti-money Laundering (AML) and Client Lifecycle Management (CLM), announces the launch of its KYC and Onboarding solution with a Trader Request Portal to streamline and accelerate counterparty onboarding. Designed specifically for the energy and commodities sector, this solution is the first of its kind to seamlessly integrate AI-powered KYC, onboarding and trade request management into a single, comprehensive solution.

By combining KYC, onboarding and trade request management capabilities, the platform delivers transformative benefits for energy and commodities firms. It simplifies compliance processes and accelerates onboarding by providing a single, unified framework for all counterparty data. 

The Trader Request Portal, integrated with Fenergo’s KYC and Onboarding solution, was purpose built to address one of the industry’s most persistent challenges of improving collaboration and communication between the front and middle office. The Portal allows traders and front office staff to digitally submit counterparty onboarding or product requests which are then seamlessly passed to the mid-office for KYC.  By providing traders with a view of the request process, firms can drastically improve the counterparty onboarding experience while building long term trust. With the elimination of manual effort and streamlining of the trader request process, firms benefit from reduced costs and accelerated time-to-trade.

Beyond operational improvements, the combined solution empowers energy and commodities firms to address larger strategic goals, such as reducing counterparty attrition and abandonment rates. By simplifying processes, improving transparency and enhancing collaboration, the solution drives more efficient workflows and more positive counterparty experiences, supporting long-term growth and stability in an increasingly competitive market. 

Keith Redmond, Chief Product Officer, Fenergo, said: “With the addition of Trader Request Portal to our KYC and onboarding solution, we’re addressing a fundamental need in the energy and commodities sector.”

He continued, “similar to financial services, the energy and commodities industry is obliged to adhere to global and domestic sanctions on trade. As part of this process, they are required to perform KYC to clearly understand the risk profile of their counterparties and supply chains which are by nature extremely complex, with many different players involved.  This combination of complexity and manual processes results in huge backlogs for KYC and widescale operational inefficiencies, unnecessary costs and trading bottlenecks. The ability to streamline compliance and trading processes in one solution bolstered by AI is transformative. It is not just about efficiency; it is about creating meaningful connections that can ultimately drive long-term business success.”

The combined solution uniquely addresses the inherent complexities of the energy and commodities sector, which is characterized by stringent regulations, volatile markets, and global operations. With its dynamic risk management capabilities, the platform centralizes risk assessment, allowing firms to stay ahead of the rapidly changing sanctions environment. This ensures that businesses can adapt swiftly to evolving and new sanctions measures without disruption.