Global and Immediate Demand for Fenergo’s FinTech Solutions Driving Job Creation
Fenergo, the leading provider of Client Lifecycle Management software solutions for investment, corporate and private banks, has today announced the creation of 200 new jobs due to rapid global expansion, bringing its total global employee base to 500.
The new positions are across many areas of the business - Product Management, Software Engineering, Implementation, Consulting and Marketing. Recruitment will begin immediately with all positions to be filled over the next 12 to 18 months.
Speaking at the jobs announcement event held in its global headquarters in Dublin’s Docklands, Marc Murphy, CEO, Fenergo, said, “I am delighted to announce the creation of 200 new high value jobs. The demand for Fenergo’s Client Lifecycle Management technology solutions is global and immediate, driven by regulatory change and banks’ desires to be able to comply fully with new and enhanced regulations, whilst achieving operational cost efficiencies and delivering superior client experiences. We anticipate continued significant growth across all of the regions we serve – Americas, Europe, UK, APAC and the Middle East – over the next 36 months.
“To help us meet this global demand, we are looking for the smartest, most dedicated and talented people to join the team to help us continue to improve this world-class business that we have built. By joining the Fenergo team, this new talent will be part of a journey to build a global technology company that is at the forefront of developments in robotics and artificial intelligence for financial technology.”
With ambitions to IPO the company by 2020, Fenergo is well on its way to achieve this given its considerable growth over the last five years, averaging over 100% year-on-year. During this time, Fenergo has signed significant new named deals with world-leading financial institutions, including HSBC, UBS, BNY Mellon, Scotiabank, Bank of Montreal, BBVA, Westpac, RBS, RBC, SunTrust and Nikko Americas. The company is also expecting another stellar sales performance this year.
Today’s announcement follows the rapid growth in employee numbers over the last few years. In January 2013, Fenergo employed 36 people. This will increase to 500 with the new job creation. The company has also opened six new offices across the world including New York, Boston, Sydney, Singapore, Japan and Abu Dhabi and relocated its Dublin, London and Boston headquarters to cater for its growing number of personnel. Most recently, the company took up residence in a 21,000 sq feet building in Dublin’s Point Village.
Fenergo’s success and growth comes on the back of significant inward investment into the company. In August 2015, Insight Venture Partners and Aquiline Capital Partners together invested €85m in Fenergo. Fenergo is using this investment to expand its global footprint by opening new offices and increasing employee numbers across all regions, invest in its product and technology R&D and create a global partner enablement programme.
The company has also invested in creating a community of banks, with which it collaborates to align its regulatory and product roadmaps, and develop solutions that can transform compliance, data and client management operations into real, value-added processes.
Fenergo is a leading provider of Client Lifecycle Management software solutions for investment, corporate and private banks. Its solutions help institutions to efficiently manage the end-to-end regulatory onboarding and entity data management processes. Its 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 overall client experience. Fenergo’s recent accolades include: Deloitte Best Managed Companies (for second consecutive year); Chartis RiskTech100™ (third consecutive year, rising 25 places in 2017); Top Performer in RegTech Performance (Banking Technology / MarketFintech, 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).