Aviva picks Fenergo for CLM processes
24 June 2020 Dublin
Image: anyaivanova/shutterstock.com
Aviva has selected Fenergo to revise know-your-customer (KYC), customer due diligence (CDD), and anti-money laundering (AML) requirements.
Digital transformation provider Fenergo will provide its client lifecycle management (CLM) services to both refine the customer onboarding experience and improve efficiencies.
The KYC, CDD, and AML services will be fundamental to Aviva’s regulatory and compliance systems by centralising and automating data for easier identification and tracking of legal entity frameworks, ownership relations, and ultimate beneficial owners (UBO).
In the partnership, Fenergo will work with Aviva Investors and Aviva UK Insurance to cover all legal entities affiliated with investors and clients across all jurisdictions.
Michelle Calcutt, head of client experience at Aviva, commented: “Aviva Investors has continued to focus heavily on improving our clients’ onboarding process, as we strive to provide the seamless experience that our clients expect and deserve.”
“Implementing the Fenergo solution will be a great step forward, as it will enable us to make best use of publicly available data and streamline the process further. In reality, this will mean less onerous documentation requests to our clients, resulting in a faster and smoother onboarding experience”
Kevin O’Neill, global head of asset management and asset servicing at Fenergo, added: “We are delighted to partner with Aviva Investors, one of the world’s leading asset management businesses. In today’s competitive and challenging climate, the asset management industry has recognised the need to digitalise the onboarding process and streamline compliance amid the various regulatory headwinds.”
O’Neill continued: “Our solution will help Aviva Investors to optimise client experiences while ensuring that all AML, KYC, and CDD requirements are automated in a rules-based secure environment. In working with Aviva Investors, we also look forward to expanding our services into Aviva Insurance and. in time, extending our CLM solution into the global insurance industry.”
Digital transformation provider Fenergo will provide its client lifecycle management (CLM) services to both refine the customer onboarding experience and improve efficiencies.
The KYC, CDD, and AML services will be fundamental to Aviva’s regulatory and compliance systems by centralising and automating data for easier identification and tracking of legal entity frameworks, ownership relations, and ultimate beneficial owners (UBO).
In the partnership, Fenergo will work with Aviva Investors and Aviva UK Insurance to cover all legal entities affiliated with investors and clients across all jurisdictions.
Michelle Calcutt, head of client experience at Aviva, commented: “Aviva Investors has continued to focus heavily on improving our clients’ onboarding process, as we strive to provide the seamless experience that our clients expect and deserve.”
“Implementing the Fenergo solution will be a great step forward, as it will enable us to make best use of publicly available data and streamline the process further. In reality, this will mean less onerous documentation requests to our clients, resulting in a faster and smoother onboarding experience”
Kevin O’Neill, global head of asset management and asset servicing at Fenergo, added: “We are delighted to partner with Aviva Investors, one of the world’s leading asset management businesses. In today’s competitive and challenging climate, the asset management industry has recognised the need to digitalise the onboarding process and streamline compliance amid the various regulatory headwinds.”
O’Neill continued: “Our solution will help Aviva Investors to optimise client experiences while ensuring that all AML, KYC, and CDD requirements are automated in a rules-based secure environment. In working with Aviva Investors, we also look forward to expanding our services into Aviva Insurance and. in time, extending our CLM solution into the global insurance industry.”
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
