Digital KYC: The Risk-Based Solution for the 'High Risk' Conundrum


26% of senior decision-makers at FIs believe that AML obligations will have the biggest impact on client lifecycle management in the next 18 months.

To manage this, the current state of KYC must change.

Fenergo examines how Digital KYC can empower FIs to meet the challenges of rapidly evolving regulatory requirements, avoid reputational risk and the association with financial crime, and operate more efficiently across borders over the long-term.
We also look at how FIs can retain clients and win prospective business by operating more effectively with the help of Digital KYC.

In this whitepaper we discuss:
  • The ongoing regulatory tsunami
  • The need for a digital solution for a historically manual task
  • The target operating model for a Digital KYC system; and
  • The benefits of an automated, managed-by-exception approach



Download the Whitepaper! 


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AiteGroup.pngRESEARCH HOUSE

Aite Group is a key Research House in the Financial Service Industry. It partners with participants in the international financial services marketplace, leveraging its analysts' industry experience to challenge, advise and to catalyze growth through independent market research and timely consulting. Aite Group builds bridges, brokers insight, and offers actionable advice that companies rely on to build their relationships and grow their businesses.



VirginieOShea.png AUTHOR

The author of the report, Virginie O’Shea, is a research director with Aite Group, heading up the Institutional Securities & Investments practice and covering data management, collateral management, legal entity onboarding, and post-trade technology. She brings to the firm more than 13 years of experience in tracking financial technology developments in the capital markets sector, with a particular focus on regulatory developments and standards. 


Features and Capabilities of Fenergo Digital KYC

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DIGITAL KYC

KYC compliance is the most expensive, time-consuming and labour-intensive element of client onboarding. Fenergo Digital KYC transforms and automates customer due diligence and radically reduces the time to onboard to a matter of minutes by eliminating periodic KYC review and leveraging the latest technology in Digital ID & Verification and eSignatures to streamline the customer onboarding process.

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JULY 20, 2019

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2:00pm EST

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About Fenergo

Fenergo is a leading provider of Client Lifecycle Management, AML/KYC Compliance and Client Data Management solutions for investment, corporate, commercial and private banks.

ADV SOLUTION

Digital Client Orchestration

Delivering a truly digital customer journey, driven by Fenergo’s industry-leading Regulatory Rules Engine, re-inforced with industry data, accessed from any channel.

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WEBINAR

Digital Client Orchestration Webinar

Register now for the webinar and see how Digital Client Orchestration connects front, middle and back office systems, enabling you to deliver the digital experience your customers deserve and want.

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CLIENTS WHO TRUST

OUR SOFTWARE SOLUTIONS

We selected Fenergo’s Client Lifecycle Management software to enable us to manage the CDD / KYC processes from client onboarding to client off-boarding and all the KYC / CDD compliance and lifecycle events (periodic and event-driven reviews) that occur in between. A core part of our business transformation program will involve creating an internal centralized KYC target operating model that will help us to simultaneously improve the client experience and reduce the cost impact of the regulatory KYC activities. Fenergo is the technology platform that will underpin this initiative.

Helène Erftemeijer

Bank-wide responsibility for CDD, client master administration and regulations, ABN AMRO

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