Fenergo teams up with PwC to optimise financial institutions' operations

As part of their collaboration, PwC is set to merge its financial crime expertise with Fenergo’s AI-powered CLM technology into a single, unified offering, enabling financial institutions globally to benefit from additional revenue opportunities through accelerated operational efficiency. Also, financial institutions focusing on digitally transforming financial crime operations are set to benefit from Fenergo’s technology and PwC’s experience in transformational financial crime, regulatory and compliance projects.

The partnership comes just a few months after Fenergo and Boerse Stuttgart Digital joined forces to allow the latter to enter its next phase of growth in Europe’s cryptocurrency market by optimising the scalability of its infrastructure solutions while simplifying compliance processes. By automating compliance, Boerse Stuttgart Digital intended to make the onboarding process more efficient for banks, brokers, and asset managers seeking to enter the crypto trading space, thus facilitating their expansion.

Fenergo and PwC’s plans

The collaborative agreement between the two companies comes as part of PwC’s broader strategy to utilise a range of digital and technology partnerships to provide customised solutions for financial crime and regulatory complexities. Commenting on the announcement, representatives from PwC underlined that Fenergo’s AI-powered platform can serve mid-market to large multinational organisations, providing the scale, flexibility, and advanced features required to manage complex regulatory environments and increased volumes of transactions across global operations. By teaming up, PwC aims to further assist its clients through greater value and sustained outcomes. Additionally, PwC invested in its multi-disciplinary teams, who currently are Fenergo-certified and gave specialist functional capabilities and technical knowledge to configure the Fenergo platform.

Furthermore, there are several services complementing Fenergo’s CLM solutions, including PwC’s Target Operating Model design, end-to-end customer experience journey mapping, operational readiness, data migration, systems integration, and business change management.