Netherlands bank ABN AMRO has announced it is investing in client life cycle management company Fenergo.
The enterprise software provider has raised capital from ABN AMRO Ventures and DXC Technology. ABN AMRO’s investment follows the investment by DXC Technology into Fenergo in the summer of 2019. The funding will facilitate further product enhancement and the potential acquisition of new business units and/or capabilities that are strategically important.
ABN AMRO Ventures is the bank’s corporate venture fund that makes strategic investments in innovative technology companies to boost and accelerate ABN AMRO’s digital transformation. The fund is EUR 100 million. DXC Technology helps global companies run their mission-critical systems and operations to deliver new levels of performance, competitiveness and customer experiences.
Fenergo’s CLM solutions enable global financial institutions to digitally transform client onboarding while optimising customer experiences and ensuring regulatory certainty. Fenergo recently expanded into new markets including asset and wealth management, private, retail, business, and commercial banking and appointed global team leaders to spearhead growth.
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