- Fenergo homepage February2018 - Fenergo Forges Strategic Partnership with Arachnys

Client lifecycle management technology specialist Fenergo announced a strategic partnership with another regtech innovator, , this week. The agreement will integrate ’ due diligence research and management solution within Fenergo’s end-to-end on boarding workflow. The combination of search, audit trail, and reporting functionality with Fenergo’s regulatory rules and risk scoring engine will give FIs a comprehensive KYC and CLM solution. Investment, corporate, and private banks alike will benefit from an integrated audit trail, periodic review, and accelerated on boarding and compliance for businesses.

Fenergo CEO Marc Murphy called partnerships like this “key” to his ’s ability to expand and better serve its clients. Adding that “our community is seeking to deploy new technologies for automating regulatory compliance,” Murphy praised Arachnys’s use of robotics for investigative processes in particular as “cutting edge.”

“We are delighted to partner with Fenergo to improve the visibility and tracking of due diligence processes across the customer risk lifecycle, eliminating the need to work across systems,” said Arachnys president Ed Sander. “The harmony between Fenergo’s rules engine and Arachnys’s search, audit trail and reporting techniques will convert compliance into an accelerator for top line revenue.”

Founded in 009 and headquartered in Dublin, Ireland, Fenergo demonstrated its Deal Manager client on boarding and account opening solution at FinovateEurope 2012. More recently, the company partnered with BNP Paribas to deploy its Client Lifecycle Management solution, and teamed up with compliance and risk management solutions provider Opus to improve integration of risk relevant in the KYC process. In December, the company was recognized by Chartis RiskTech100 as the only CLM provider in the top 40 of the world’s risk and compliance technology companies.

Fenergo has raised more than $80 million in funding. The company includes Ulster Bank Diageo Venture Fund, Aquiline Capital Partners, Insight Venture Partners, and Investec among its investors.

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