News

Fenergo selected by Aviva for KYC, CDD, and AML processes

Thursday 25 June 2020 11:39 CET | News

Fenergo has been selected by Aviva to replace KYC, customer due diligence (CDD), and AML systems and services. 

Fenergo will work initially with Aviva Investors and later with Aviva UK Insurance, to onboard all legal entities associated with investors and clients across all jurisdictions, transforming the investor and client onboarding experience. The reason behind Aviva’s decision to select Fenergo is to deliver an end-to-end solution to facilitate the management of multi-jurisdictional KYC, CDD, and AML regulatory processes, while streamlining the customer journey and driving efficiencies. 

Via Fenergo, Aviva Investors will be enabled to achieve a single client view through a central data repository, which will also serve as a golden source for all KYC data. The centralisation of data will reduce the number of information outreach requests to new and existing customers and will allow resources to focus on more value-add and revenue generating tasks within the business. In addition, Aviva Investors will be able to identify and trace Ultimate Beneficial Owners (UBO) and understand complex legal entity hierarchies and ownership relationships. Fenergo's solution ensures accurate regulatory classifications and reporting across multiple jurisdictions and provides transparency required by third parties, such as auditors and regulators. The solution will automate all periodic and ongoing KYC reviews and maintenance requests as well as requisite risk assessments within a secure platform.


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Keywords: Aviva, Fenergo, KYC, CDD, AML, digital transformation, client lifecycle management, CLM, financial institutions, customer due diligence, onboarding, risk assessment, management, regulations, auditors, UBO, data
Categories: Securing Transactions | Digital Identity, Security & Online Fraud
Countries: World
This article is part of category

Securing Transactions