The latest news about technology products and services relevant for wealth managers around the world.
Fenergo, the technology firm providing digital client lifecycle management solutions for financial institutions, has rolled out the product enhancement, Digital KYC, a real-time solution.
The solution delivers a risk-based approach that is designed to boost efficiency in handling know-your-client work. It is designed to add to a financial institution’s client lifecycle management suite by automating continuous customer due diligence reviews for low to medium-risk clients.
“In today’s increasingly complex regulatory environment with heightened scrutiny, financial institutions shoulder the burden of highly manual KYC checks performed on an ad-hoc basis. Not only is this time consuming and costly, it leaves financial institutions open to risk,” Greg Watson, global head of corporate and institutional banking, Fenergo, said.
The firm has about 70 global financial institutions as clients.