Citi has implemented Fenergo’s Client Lifecycle Management (CLM) platform across parts of its Global Transfer Agency operations in Europe.
The move is intended to streamline investor onboarding and regulatory compliance processes for regulated funds.
The adoption comes as Citi continues to extend its digital capabilities within its Fund Services division, which serves institutional clients such as asset and investment managers. The new platform digitises key transfer agency functions, including Anti-Money Laundering (AML) and Know Your Customer (KYC) assessments.
According to officials at Citi, the rollout allows the firm to apply specific, policy-driven risk assessments for investor due diligence while improving the onboarding experience. The integration also supports real-time reporting and automated data validation via API connectivity.
Supporting the company’s digital expansion plans
The deployment in Europe builds on Citi’s earlier launch of a digital transfer agency solution in the United Kingdom in 2023. The bank already provides fully digital lifecycle services to fund clients in the UK market.
A representative from Citi stated that the Fenergo platform combines technical functionality with an understanding of the evolving regulatory environment, which helps manage the operational demands of multi-jurisdictional fund structures.
Fenergo officials noted that their CLM system is designed to help financial institutions meet compliance requirements while simplifying investor interactions. They added that their work with Citi reflects ongoing efforts to keep pace with regulatory and technological change in the financial services sector.
Other developments from Citi
In a separate move, Citigroup explored the idea of launching its own stablecoin as part of wider efforts to expand its digital payments infrastructure. The move, still under consideration at the time of writing, forms part of the bank’s work in the digital asset space, which also includes tokenised deposits and crypto custody services.
Citigroup’s CEO confirmed during the bank’s second-quarter earnings call that discussions around a proprietary stablecoin are ongoing but noted that the institution is placing greater emphasis on tokenized deposits. She described the area as one where the bank is already actively engaged and sees considerable potential for application.