Generali Investments Holding picks Fenergo for CLM
Latest news
Generali Investments Holding picks Fenergo for CLM 18 October 2023UK Reporter: Lucy Carter
Image: velishchuk/stock.adobe.com
Generali Investments Holding has selected Fenergo’s software-as-a-service client lifecycle management (CLM) tool to enhance its anti-money laundering (AML) compliance processes.
The decision to further develop AML provisions has been prompted by an increase in the quantity and sophistication of money laundering incidents following Russia’s invasion of Ukraine, Generali Investments states.
Fenergo’s end-to-end CLM solution includes onboarding, know-your-customer and transaction monitoring. Generali Investments Holding will use data from the latter two operations to continually monitor for unexpected risks and events, detecting and flagging suspicious activity on a real-time basis. In using Fenergo’s solutions, the company adds that it will also be able to reduce time spent on false positives.
In addition to ensuring compliance with European AML regulations, Fenergo’s solutions will improve cost optimisation and resource efficiency for investors, the company says. Fenergo will manage the operational steps to create a mandate for investors during the onboarding process, and users will be able to digitally interact with their data in real-time through the Generali Investments ecosystem.
Katia Mangiaracina, chief operating officer at Generali Investments Holding, says: “With money laundering techniques growing increasingly sophisticated over recent years, ensuring our AML processes are as robust as possible has been one of our key focuses this year.
“Having witnessed Generali Real Estate’s successful integration of Fenergo’s technology, we were confident its market-leading KYC and transaction monitoring offering would be the best fit for our business.”
Stella Clarke, chief strategy officer at Fenergo, comments: “Fenergo’s API-first CLM platform will permit Generali Investments to drive onboarding efficiencies and achieve smarter, real-time risk monitoring at this crucial time for European AML regulation. We are proud to partner with Generali, allowing us to deliver on our mission to make the financial services industry safer by transforming the way in which our clients comprehend and manage their business.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: velishchuk/stock.adobe.com 