Sell-Side Technology Awards 2016: Best Sell-Side Compliance Product — Fenergo
The Dublin-based vendor’s solution helps firms manage end-to-end regulatory onboarding and entity data management processes.
Every year, judges vote for vendors that provide solutions to the most pressing compliance and regulatory concerns. That's why throughout the history of these awards, this category has had a different name in the winners' circle. It started with Dealogic in 2013, followed by Citicom (2014) and CounterpartyLink (2015). This year is no different, as Fenergo and its Client Lifecycle Management (CLM) platform takes home their first win in the category.
The Dublin-based vendor’s solution helps firms manage end-to-end regulatory onboarding and entity data management processes. Joe Dunphy, vice president of product management at Fenergo, says the crux of what sets CLM apart from other solutions in the space is its constant interaction with its community of clients.
“We have an active client community involved in client advisory boards at a senior level, a regulatory forum at a mid-level, and user-groups on a ground-user level,” Dunphy says. “Being completely focused on Client Lifecycle Management for financial institutions means that we can design, develop and deliver solutions that bridge the end-to-end client lifecycle journey in its entirety, rather than focus on solutions for a specific element of that journey, e.g., AML screening or those who see CLM as just one solution among a wider corporate strategy.”
Fenergo’s CLM tracks, merges and groups client identifiers, creating a unique record for each client and centralizing all KYC data, relationships, affiliations, corporate structure, ownership model, interlinked entities, and ultimate beneficial owners. The platform also connects with several repositories, systems and data providers to allow for a more efficient data integration process.
Data integration has been a focus of Fenergo over the past year. Dunphy says client communities continue to reiterate that data is still a challenge for them. By and large, according to Dunphy, AML data, industry data and legal entity data are still being manually consumed and processed by institutions.
When firms combine this with the challenges already in place around remediating, updating and enhancing the data they already have, the problem intensifies. That’s what led to one of CLM’s latest enhancements, according to Dunphy.
“We came up with Fenergo Data Integration Manager as a way to help financial institutions automatically consume, process and route this data to the right internal systems,” Dunphy says. “To achieve this, we are working with industry partners in the data and service space—the DTCC’s Clarient, Avox and Omgeo, Markit-ISDA Amend, and kyc.com, etc.) to provide standardized, out-of-the-box solutions to the market.”
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Witad Awards 2024: EDM professional of the year—Neslihan Yegul, S&P Global Market Intelligence
Neslihan Yegul, vice president, head of EDM and thinkFolio at S&P Global Market Intelligence, wins EDM professional of the year in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Technology innovator of the year (end-user)—Laura Hamilton, Bank of America
Laura Hamilton, global head of corporate treasury, credit risk, climate risk, and financial forecasting technology at Bank of America, wins technology innovator of the year (end-user) in the 2024 Women in Technology and Data Awards.
Witad Awards 2024: Vendor professional of the year (data and operations)—Joanna Davies, OSTTRA
Joanna Davies, head of trade processing at OSTTRA, wins vendor professional of the year (data and operations) in the 2024 Women in Technology and Data Awards.
Sell-Side Technology Awards 2024: Best sell-side front-office platform—Bloomberg
Product: Bloomberg TOMS
Most read
- Deutsche Börse democratizes data with Marketplace offering
- Sell-Side Technology Awards 2024: All the winners
- Sell-Side Technology Awards 2024: Best implementation at a sell-side firm—FlexTrade Systems