DUBLIN, Oct. 10, 2019 /PRNewswire/ — Fenergo, a leading provider of digital Client Lifecycle Management (CLM) software solutions for financial institutions, has announced the launch of Fen-Host, a fully managed services cloud offering. The move is a direct response to the growing acceptance of cloud amongst financial institutions and requests from the Fenergo client community. Research by Fenergo found that 56% of global financial institutions are prioritising cloud in the next 12 months and 57% have started implementation.
Fen-Host offers a fully managed service which includes installation of Fenergo’s CLM solution, deployment, configuration and maintenance of the environments, monitoring, patching and product support amongst others. The application allows IT departments within financial institutions to focus on business-critical tasks while experiencing all the benefits cloud provides including cost savings, reliability, scalability and accelerated digital transformation.
Fen-Host allows financial institutions to quickly get business solutions up and running while maintaining the flexibility of customer specific configuration, interfaces, and processes. Alternatively, financial institutions could opt to deploy Fenergo’s CLM platform to their own cloud, maintaining full control of their environment.
Niall Twomey, Chief Technology Officer, Fenergo, said: “Our client engagement approach to product development means that we are highly tuned to the requirements of the financial services industry. Whilst we’ve always been able to deploy our CLM solutions in the cloud, Fen-Host is ideally suited to the needs of financial institutions today as they strive to digitally transform customer experiences.”
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About Fenergo (www.fenergo.com)
Fenergo is the digital enabler of client and regulatory technology for financial services. It provides digital Client Lifecycle Management (CLM) software solutions for Financial Institutions including; Corporate & Institutional Banking, Commercial & Retail Banking, Asset Management & Asset Servicing, Private Banking & Wealth Management. Counting 70+ global Financial Institutions as clients, its award-winning CLM suite digitally transforms how Financial Institutions manage clients; from initial onboarding to KYC/AML and regulatory compliance, to data management and ongoing lifecycle KYC reviews and refreshes. Fenergo CLM empowers financial institutions to deliver a faster, compliant and digital customer experience while achieving a single client view across channels, products, business lines and jurisdictions. Fenergo is quickly becoming the KYC backbone for banks, where a common set of Fenergo KYC services are being leveraged across the bank agnostic of business vertical, product, jurisdiction or client type. This backbone trades increasing complexity for well-designed simplicity.
Fenergo’s community-based approach to product development allows clients to collaborate on solution design on a global scale. Its rules-driven solution ensures compliance with multiple global and local regulatory frameworks including AML, KYC, SFTR, Tax (CRS, FATCA, 871M), OTC Derivatives (EMIR, Dodd-Frank, MiFID II, Margin Requirements) and data privacy rules (GDPR). It supports the collection, centralization and sharing of client and counterparty data and documentation across the institution and deploys an API-first approach to advanced integration with a host of external KYC, AML and entity data providers, KYC and industry utilities. The solution is underpinned by next generation Artificial Intelligence, Robotics Process Automation and Machine Learning technologies, using advanced OCR and NLP capabilities to extract information, expedite compliance and improve operational efficiencies.
SOURCE Fenergo