Fenergo launches AI powered CLM system 04 June 2024 Ireland Reporter: Klea Neza
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Digital services provider Fenergo, has launched an AI Powered client lifecycle management (CLM) system.
The offering aims to boost operational efficiencies, accelerate onboarding and improve end-user experiences while reducing costs associated with KYC and AML compliance.
The company says its AI-powered offering will empower firms to safely deliver more efficient, frictionless onboarding and lifecycle management journeys while accelerating time to revenue.
Stella Clarke, chief strategy officer at Fenergo, says: “Regulators across the globe are tightening their grip on financial crime prevention, enforcing tougher penalties for compliance failures and launching new initiatives like the EU’s Anti-Money Laundering Authority.
“Against this backdrop, it is crucial that banks look to bolster their capabilities with regards to client onboarding, due diligence and regulatory reporting – especially considering the growing shortage of compliance professionals globally.”
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