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.”