Fenergo reveals Digital KYC to automate compliance

Thursday 31 October 2019 11:39 CET | News

Fenergo has introduced Digital KYC, a real-time KYC solution for financial institutions who seek to automate and perpetuate KYC compliance reviews.Digital KYC offers a risk-based approach to ongoing KYC, in a bit to increase operational efficiency, lower the cost of compliance, achieve regulatory certainty, and optimise client experiences. The new initiative leverages the existing data from internal and external data sources, and it reduces the need for repeated manual requests for client data.

This solution is design to compliment a financial institution's existing CLM suite, by automating continuous customer due diligence (CDD) reviews for low to medium-risk clients. Moreover, compliance staff are allowed to focus their efforts on high risk, high value tasks via this Straight Through Processing (STP) of client onboarding.

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Keywords: Fenergo, Digital KYC, compliance, financial crime, risks, CDD, due diligence, onboarding, data
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

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