NIBC implements Fenergo’s KYC solution
14 December 2023 Ireland
Image: jirsak
Netherlands-based commercial bank NIBC has adopted Fenergo’s know-your-customer (KYC) and onboarding solutions.
By implementing Fenergo’s API-first solution NIBC aims to improve operational efficiency, streamline client onboarding and create a single client view across the business.
This front-to middle-office integration will reduce data silos and duplication of effort, allowing NIBC employees to allocate more time to revenue-generating, client-specific tasks, the firm says. By automating onboarding and compliance processes, NIBC aims to further future-proof in preparation for evolving anti-money laundering regulations.
Daniella Steenbergen, a director at NIBC, says: “We needed to replace our KYC system, which was an in-house developed, highly customised application. Deploying Fenergo’s technology offers an opportunity to further our journey of continuously improving our KYC capabilities. The Fenergo onboarding project team has been very supportive, together we have been able to deliver within an extremely short time frame.”
Stella Clarke, chief strategy officer at Fenergo, comments: “Our API-first approach will ensure smoother integration with a host of front-end solutions, providing NIBC with greater visibility and more fluid data orchestration across its key systems.”
By implementing Fenergo’s API-first solution NIBC aims to improve operational efficiency, streamline client onboarding and create a single client view across the business.
This front-to middle-office integration will reduce data silos and duplication of effort, allowing NIBC employees to allocate more time to revenue-generating, client-specific tasks, the firm says. By automating onboarding and compliance processes, NIBC aims to further future-proof in preparation for evolving anti-money laundering regulations.
Daniella Steenbergen, a director at NIBC, says: “We needed to replace our KYC system, which was an in-house developed, highly customised application. Deploying Fenergo’s technology offers an opportunity to further our journey of continuously improving our KYC capabilities. The Fenergo onboarding project team has been very supportive, together we have been able to deliver within an extremely short time frame.”
Stella Clarke, chief strategy officer at Fenergo, comments: “Our API-first approach will ensure smoother integration with a host of front-end solutions, providing NIBC with greater visibility and more fluid data orchestration across its key systems.”
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