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News

Fenergo unveils remote account opening solution

Wednesday 22 April 2020 13:37 CET | News

Fenergo has announced the launch of its digital cloud-based Remote Account Opening solution, in order to assist US small businesses in accessing Paycheck Protection Programme (PPP) emergency loans.

This plug-and-play solution allows US business and commercial banks to digitally onboard new clients, while digitally satisfying KYC, AML, and Bank Secrecy Act (BSA) requirements, reducing the time to onboard and rapidly process new PPP loan applications.    

Fenergo's remote account opening solution is a pre-configured digital-only service that integrates with a bank's existing loan application process. It delivers front to back KYC, AML, and BSA rules automation and screening. It transforms compliance and offers:

  • Pre-configured automated regulatory rules engine and associated workflows;
  • Digital, dynamic collection of required data and documents (ID and verification), and automated screening for AML due diligence processes;
  • Plug and play account opening and client onboarding functionality with API connectivity to facilitate existing digital channels and capitalise on previous investments;
  • Pre-built PPP/SBA Loan Application Module.

Source: Link


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Keywords: Fenergo, launch, remote account opening, solution, small business, loan approvals, CLM, Client Lifecycle Management, financial institutions, US, KYC, AML, Bank Secrecy Act, BSA, screening, due diligence
Categories: Banking & Fintech
Companies:
Countries: United States
This article is part of category

Banking & Fintech

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