Fenergo and Shieldpay partner on CLM solution 15 February 2023UK Reporter: Lucy Carter
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Digital solutions provider Fenergo and digital B2B payments fintech Shieldpay have partnered to create a comprehensive client lifecycle management (CLM) and perpetual risk monitoring system.
The product is being designed in advance of Shieldpay’s plans to scale its operations, which currently include the provision of B2B payments to legal and professional service firms, financial services and technology platforms. With a focus on high-value and high-volume transactions, the company’s digital platform has processed more than US $5 billion in corporate funds.
Fenergo will allow Shieldpay to implement a digital due diligence process, with know-your-customer (KYC) and anti-money-laundering (AML) data consolidated onto a single platform. As a result, Shieldpay will be able to onboard clients at a faster rate and can streamline its internal operations, the company says.
James Stubbs, head of product at Shieldpay, comments: "As we continue to expand, it's crucial that we have partners that share common goals around making the payments landscape highly secure. Fenergo’s experience in onboarding complex entity structures, transparency, and ability to automate client due diligence made it the vendor of choice.”
Stella Clarke, chief strategy and marketing officer for Fenergo, adds: "Modern payments businesses like Shieldpay require CLM solutions that provide seamless automation, in addition to a complete view of their clients and ensure full compliance with international regulations. Through our solution, Shieldpay can focus on delivering an exceptional overall client experience within a secure environment.”
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