Fenergo and NS Solutions Partner to Support Japanese Financial Institutions in Meeting Increased Regulatory Requirements

Including Financial Action Task Force (FATF), Japan Financial Service Authority (JFSA) and Japan Financial Intelligence Center (JAFIC) requirements.

Tokyo, Japan, 11th June 2024 - Fenergo, the leading provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring (TM) and Client Lifecycle Management (CLM), and NS Solutions (NSSOL), a leading technology solutions provider, today announce a strategic partnership to support financial institutions in Japan in meeting rising regulatory obligations.   

The partnership comes in response to increased scrutiny by the regulators in relation to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) regulations, as well as mandatory Environmental, Social, and Governance (ESG) disclosure requirements by the Japan Financial Services Authority (Japan FSA). As Japanese financial institutions work to meet these new regulations, Fenergo and NSSOL are collaborating to provide advanced Software as a Service (SaaS) solutions that can automate compliance processes, accelerate client onboarding and time to revenue while optimizing operations.

As part of this collaboration, NSSOL will leverage its market-leading implementation expertise to integrate Fenergo's award-winning advanced SaaS solution, covering client onboarding, KYC, Ongoing Client Due Diligence, AML/CFT regulatory requirements and workflow management for financial institutions. The combination of NSSOL implementation expertise and strong domestic support in the technology ecosystem will allow Japanese financial services organizations to enhance international (Financial Action Taskforce) and domestic (Japan FSA and Japan Financial Intelligence Center) regulatory compliance while improving customer experience.

Fenergo's ESG solution will help organizations effectively manage ESG requirements in response to the growing demand for sustainable and socially responsible investing. This solution will assist in tracking and measuring ESG data and providing accurate disclosures for investors. Additionally, Fenergo's Perpetual KYC capabilities will allow financial institutions to streamline and automate periodic KYC review cycles by continuously monitoring client profiles for risk using real-time data. 

"We are thrilled to partner with NSSOL to bring our world-class CLM solutions to financial institutions in Japan. The partnership represents a significant step forward for the Japan financial industry, as organizations work to navigate complex regulatory requirements while meeting the evolving needs of their customers. By providing advanced technology solutions that can streamline compliance processes and optimize operations, Fenergo and NSSOL are committed to supporting Japanese financial institutions as they work to build a more sustainable and compliant future."

said Stella Clarke, Chief Strategy & Marketing Officer, Fenergo. 

"Our partnership with Fenergo is an important milestone in our strategy to provide innovative and reliable technology solutions to our clients. With Fenergo's best-in-class SaaS CLM solution, we can help Japanese financial institutions meet the stringent regulatory requirements and drive growth through improved customer experience. Our collaboration will provide a strong foundation for financial institutions in Japan to achieve success in a rapidly changing market."

said Takumi Maehara,  Executive Officer Director, Financial System Solutions Bureau.