Although financial institutions must perform a Know your Customer (KYC) process every time they onboard a new customer, the standard KYC process is extremely expensive, lengthy and manual, negatively impacting customer experience.
Fenergo e-KYC Connect allows financial institution members of a KYC utility solution access to shared, verified, up-to-date customer information, enabling them to deliver faster, compliant client onboarding journeys and lifecycle events for their customers.
In this brochure you will learn:
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Global Head of Commercial Business and Retail, Fenergo
Global AML Manager, Fenergo
Principal Director, Accenture
Managing Director, Accenture
Fenergo has partnered with BENEFIT (Bahrain’s Electronic Network for Financial Transactions) to create a National e-KYC platform. This blockchain-integrated utility supports more than 380 financial institutions to improve customer experience and drive KYC efficiencies across Bahrain. Fenergo e-KYC Connect digitalizes the KYC process for all financial firms in the region, aligning closely to Bahrain’s pioneering vision for digital transformation.
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.
Bank-wide responsibility for CDD, client master administration and regulations, ABN AMRO