Fenergo Ranks as Highest Dedicated CLM Vendor
Fenergo Ranks as Highest Dedicated CLM Vendor
Fenergo is the only dedicated Client Lifecycle Management technology provider in the top 40 in the independent study of the world’s major risk and compliance technology companies
13 December 2017 – Dublin, Ireland – Fenergo, the leading provider of Client Lifecycle Management software solutions to the Corporate & Institutional, Business & Commercial and Private Bank sectors, has been ranked in the Chartis RiskTech100® for the fourth consecutive year, and is the highest-ranking dedicated provider of Client Lifecycle Management technologies in this year’s study.
Now in its twelfth year, Chartis RiskTech100® is widely acknowledged as the most comprehensive independent study of the world’s major providers of risk and compliance technology.
Fenergo has moved up the Chartis RiskTech100® rankings every year for the last four years. This year, the company saw gains across the board in categories such as Innovation, Functionality, Core Technology and Market Presence.
Speaking on the rankings, Marc Murphy, Fenergo CEO, said,
“I am so proud to be ranked once again among the top 100 risk technology firms in the world, but more importantly to be the only dedicated Client Lifecycle Management software vendor in the top 40.”
“In addition to the 62 banks live on the Fenergo platform today, over the last 12 months we have won deals in every major financial services centre in the world. We continue to focus on developing our client community, tapping into a global regulatory collective of 20,000+ risk and compliance experts to feed our regulatory and product roadmaps and ensuring continued global compliance and regulatory surety for our clients. We have also grown our own internal RegTech experts with two major job announcements, bringing our total global employee number to 600 by the end of this year. We have coupled this approach with a strong partner engagement strategy both from a product and implementation perspective.”
Fenergo’s success in winning deals with top-tier financial firms is primarily due to two driving forces in the industry: a stricter and more scrutinized regulatory environment (including additional regulations concerning Anti-Money Laundering (AML), Know Your Customer (KYC) and a myriad of growing and tighter derivative trading reforms); and a digital banking revolution that is taking place in every banking market in the world. Fenergo estimates that up to 50% of the manual efforts of the front and middle office can be automated, increasing operational efficiencies and mitigating the inherent risk of manual processes.
Speaking on the RiskTech100® announcement, Sid Dash, Research Director at Chartis Research said, “The increased number of regulations is changing the way banks are managing the compliance and client lifecycle processes. More and more banks that would have previously built solutions internally are now coming to market to partner with firms like Fenergo.
Fenergo has proven that it can offer the advantages of a collectively engaged client community whose feedback has direct input into its regulatory and product roadmaps, allowing firms to comply with any new regulation from Day 1 and ensuring continued compliance throughout the client lifecycle. By digitalizing and automating the compliance, data management, client onboarding and lifecycle processes, banks can re-invest their resources to focus on more high-value and client-centric tasks. RiskTech
100® recognizes those vendors that deliver enhanced ROI and provide a positive impact on client experience.”
Fenergo works with some of the world’s largest financial institutions including Santander, SMBC Nikko, and BBVA, among others.
– Ends –
For more information:
Kevin Cullen, Director of PR & Communication, Fenergo
Danielle Simko, Associate Account Executive
T: +1 6466614223
About Fenergo (www.fenergo.com):
Fenergo is a leading provider of Client Lifecycle Management software solutions for Corporate & Institutional, Business & Commercial and Private banks. Its solutions help institutions to efficiently manage the end-to-end regulatory onboarding and entity data management processes. The intelligent rules-driven solution ensures compliance with multiple regulatory frameworks and supports the collection, centralization and sharing of client and counterparty data and documentation across the institution. By expediting compliance and improving operational efficiencies, Fenergo’s solutions can onboard clients faster, improve time to revenue and enhance the overall client experience. Fenergo’s recent accolades include: Chartis RiskTech100™ (fourth consecutive year, rising 25 places in 2017); Top Performer in RegTech Performance (Banking Technology / MarketFintech, 2017 and 2016); Best Compliance Product (Sell-Side Technology Awards 2016), FinTech Forward Company to Watch (American Banker, 2015), Chartis RiskTech100® (2016 and 2015) and Best Enterprise Data Management Initiative (Inside Reference Data, 2014).
Chartis Research is the leading provider of research and analysis on the global market for risk technology. It is part of Infopro Digital, which owns market-leading brands such as Risk and Waters Technology. Chartis’ goal is to support enterprises as they drive business performance through improved risk management, corporate governance and compliance, and to help clients make informed technology and business decisions by providing in-depth analysis and actionable advice on virtually all aspects of risk technology.
RiskTech Quadrant®, RiskTech100® and FinTech QuadrantTM
are registered trademarks of Chartis Research (http://www.chartis-research.com).