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Celent Awards Fenergo for Excellence in KYC Technology

xCelent Award recognizes Fenergo’s CLM for Breadth of Functionality   

Dublin, London, New York, 15th July - Fenergo, the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions, announces today its win of the Breadth of Functionality category at the prestigious xCelent Award 2020. The award features in Celent’s latest Know Your Customer (KYC) systems vendor analysis report entitled, Know your Customer Systems: 2020 xCelent Awards.   

Fenergo’s CLM technology was awarded by leading financial technology analyst house, Celent, following a rigorous evaluation of the global KYC technology market, including a profile comparison from major vendors around the world. Celent assessed the KYC systems in the report using its proprietary ABCD methodology which evaluates key industry trends, technology and functionalities, and client preferences.

Conor Coughlan, Chief Marketing Officer, Fenergo, said: “This award recognises Fenergo’s commitment to delivering best-in-class CLM solutions that enable financial institutions to automate KYC operations, reduce the cost of regulatory change while delivering differentiating digital client experiences. In today’s challenging business environment, where financial institutions have had to pivot overnight to a remote working model, it is vital that we can continue to support them so that they can rapidly respond to the needs of their clients while being able to compete with market disruption.”

The xCelent award is the latest independent analyst accreditation of Fenergo’s CLM solution. Recent awards include Category Leader for CLM and KYC in the Chartis Research RiskTech100® and Best in Class for CLM in the Aite Group’s CLM vendor review report. See more awards and accreditations here.

Fenergo is the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions. Its software digitally transforms and streamlines end-to-end CLM processes - from regulatory onboarding, data integration, client and counterparty data management, client lifecycle reviews and remediation, all the way to client offboarding. Fenergo is recognised for its in-depth financial services and regulatory expertise (from a team of over 30 global regulatory specialists), community-based approach to product development and out-of-the-box rules engine which ensures financial institutions are future-proofed against evolving Know Your Customer (KYC), Anti-Money-Laundering (AML), tax and OTC derivatives-based regulations across 100 jurisdictions. Fenergo recently expanded into new markets including asset and wealth management, private, retail, business and commercial banking and has over 80 global clients. The solution is underpinned by Artificial Intelligence, Robotics Process Automation and Machine Learning technologies, using advanced OCR and NLP capabilities to extract information, expedite compliance and improve operational efficiencies.

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