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NIBC Bank selects Fenergo to bolster KYC

14th December 2023 – Dublin, London Fenergo, the leading provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring and Client Lifecycle Management, announces today that Netherlands-based commercial bank NIBC is deploying its software-as-a-solution (SaaS) technology to enhance KYC operations.

NIBC – which serves clients internationally with a focus on Europe – is implementing Fenergo’s KYC and onboarding solution to achieve operational efficiencies. 

NIBC’s implementation of Fenergo’s API-first solution integrated with Salesforce at the front-end will create a single client view across the business while streamlining client onboarding. This front to mid-office integration reduces data silos and duplication of effort, allowing NIBC employees to allocate more time focusing on revenue-generating, client-specific tasks. By automating onboarding and compliance processes, NIBC can become even more future-proofed against evolving anti-money laundering (AML) regulations. 

Daniella Steenbergen, NIBC, said:

“We needed to replace our KYC system, which was an in-house developed, highly customized application. We are happy with the replacement by Fenergo’s KYC solution. We are always looking to improve. Deploying Fenergo’s technology offers an opportunity to further our journey of continuously improving our KYC capabilities. The Fenergo onboarding project team has been very supportive, together we have been able to deliver within an extremely short time frame.”

Stella Clarke, Chief Strategy Officer, Fenergo, added:

“We are delighted to support NIBC in bolstering its KYC processes. Our API-first approach will ensure smoother integration with a host of front-end solutions, providing NIBC with greater visibility and more fluid data orchestration across its key systems.”