U.S. Bank GFS selects Fenergo to digitise investor onboarding

Initially, as part of their collaboration, U.S. Bank Global Fund Services and Fenergo aim to improve investor onboarding, with both intending to further their contributions to the fund servicing business.

Through its community and data intelligence, Fenergo aims to enable financial institutions to accelerate business development. The company intends to serve as a bridge between financial organisations and their clients, optimising the overall experience for both. As part of its offering, Fenergo provides a comprehensive suite of services, including Client Lifecycle Management (CLM), Know Your Customer (KYC), Client Onboarding, Transaction Monitoring, Regulatory Compliance, Account Opening, and Loan Origination, among others.

When it comes to U.S Bank Global Fund Services, selecting Fenergo is set to enable the financial institution to solidify its position in the market by merging the company’s client lifecycle management technology with a U.S. Bank-designed digital investor interface. Commenting on the move, representatives from U.S. Bank Investment Services mentioned that, as across the industry, onboarding investors and clients has been a complex and fragmented process, the financial institution seeks to mitigate these issues by facilitating an experience that is efficient and transparent while also complying with regulatory requirements.

Furthermore, U.S. Bank Global Fund Services also highlighted that augmenting investor onboarding and servicing represents the first step in a multi-year transformation. The financial institution plans to extend Fenergo to other segments of the business to serve as the foundation for the client lifecycle.

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