Fenergo Forges Strategic Partnership with Arachnys

Client lifecycle management technology specialist Fenergo announced a strategic partnership with another regtech innovator, Arachnys, this week. The agreement will integrate Arachnys’ due diligence research and management solution within Fenergo’s end-to-end on boarding workflow. The combination of Arachnys search, audit trail, and reporting functionality with Fenergo’s regulatory rules and risk scoring engine will give FIs a comprehensive KYC and CLM solution. Investment, corporate, and private banks alike will benefit from an integrated audit trail, automated periodic review, and accelerated on boarding and compliance for businesses.

Fenergo CEO Marc Murphy called partnerships like this “key” to his company’s ability to expand and better serve its clients. Adding that “our community is seeking to deploy new technologies for automating regulatory compliance,” Murphy praised Arachnys’s use of robotics for investigative processes in particular as “cutting edge.”

“We are delighted to partner with Fenergo to improve the visibility and tracking of due diligence processes across the customer risk lifecycle, eliminating the need to work across multiple systems,” said Arachnys president Ed Sander. “The harmony between Fenergo’s rules engine and Arachnys’s search, audit trail and reporting techniques will convert compliance into an accelerator for top line revenue.”

Founded in 2009 and headquartered in Dublin, Ireland, Fenergo demonstrated its Deal Manager client on boarding and account opening solution at FinovateEurope 2012. More recently, the company partnered with BNP Paribas to deploy its Client Lifecycle Management solution, and teamed up with compliance and risk management solutions provider Opus to improve integration of risk relevant data in the KYC process. In December, the company was recognized by Chartis RiskTech100 as the only CLM provider in the top 40 of the world’s major risk and compliance technology companies.

Fenergo has raised more than $80 million in funding. The company includes Ulster Bank Diageo Venture Fund, Aquiline Capital Partners, Insight Venture Partners, and Investec among its investors.

Finovate Alumni News

On Finovate.com

  • Fenergo Forges Strategic Partnership with Arachnys.
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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • SumUp Partners with BancoEstado to Boost Mobile Card Acceptance in Chile.

Around the web

  • New software and cash recycling technology from Diebold Nixdorf to support an upgrade of 400 ATMs by Turkey’s VakifBank.
  • ACI Worldwide teams up with Zelle to bring real-time payments to FIs.
  • BNP Paribas to deploy Fenergo’s Client Lifecycle Management (CLM) solution.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

Finovate Alumni News

Around the web

  • ACI Worldwide supports cross-border e-commerce in Brazil with integration of payment processor and gateway, PagBrasil.
  • Revolut is the latest fintech to apply for a European banking license.
  • Fenergo teams up with Opus to improve integration of risk-relevant information in the KYC process.
  • KAMCO Investment Company chooses Fusion Invest from Finastra to accelerate growth.
  • Bluefin Payment Systems unveils PCI P2PE sub-listing option for users of its Decryptions as a Service (DaaS) offering, Decryptx.
  • Ping Identity adds support for companies seeking PSD2, open banking compliance.
  • Trustly tops €10 billion in total payment processing volume since inception.
  • Q2 Holdings named to Deloitte Technology Fast 500 for second consecutive year.
  • Stratumn completes a blockchain experimentation connecting 14 insurance companies in France.
  • nCino debuts in top half of Deloitte’s 2017 Technology Fast 500.
  • Scalable Capital hits €500 million in assets.
  • Checkbook.io disrupts class action payments.
  • Compass Plus assists Almazergienbank to support the issuing and acquiring of JCB cards.
  • NetGuardians and Swisscom launch fraud prevention service.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Bill.com Discloses September Investment Round, Doubles Total Funding.
  • SocietyOne Tops $350 Million in Loans.
  • Baker Hill Forges Partnerships with Allied Solutions, Experian.
  • Safe Spaces: The Best of the Authenticators, Verifiers, and Fraud Fighters.

Around the web

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  • Ondot Systems to provide two-way fraud alerts for debit cards processed by payments provider, Elan Financial.
  • Pendo Systems adds 25-year banking veteran Bill Woodley as a non-executive director.
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  • nCino enhances Treasury Management Sales and Onboarding Solution for greater flexibility, configurability and speed.
  • NuData picks up leader award from Javelin Strategy and Research.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Fenergo Helps Santander Enhance Customer Onboarding Experience

Client lifecycle management (CLM) software vendor Fenergo has landed a deal with Santander Global Corporate Banking to revamp its client onboarding process, reports Tanya Andreasyan of Banking Technology (Finovate’s sister publication).

Fenergo CLM will be rolled out to Santander’s operations in Europe, Asia, and the Americas, across multiple business lines. The first site will be in the UK, the vendor said.

“We selected Fenergo CLM as part of a global internal transformation and re-organisation programme,” explained José Muñoz, global head of operations at Santander Global Corporate Banking.

The programme, he said, is “designed to streamline processes and integrate once disparate systems to create a single source of client data and a seamless and well-orchestrated client onboarding journey”.

Fenergo CEO Marc Murphy demonstrating new customer onboarding and account opening technology at FinovateEurope 2012.

Fenergo said its “enterprise platform” can do just that as it supports “the end-to-end client lifecycle journey from initial client onboarding to KYC/AML and regulatory compliance, to client data/documentation management and regular and event-driven KYC reviews & remediation, all the way through to client off boarding”. It is suitable for corporate, investment, and private banks.

“For us, it’s about making the technology work to generate greater ROI (return on investment) and improved TCO (total cost of ownership),” stated Fenergo CEO Marc Murphy.

The company showcased some stats to support this statement, saying that by automating the CLM process, its technology enables banks to:

  • onboard clients up to 82% faster than a manual process and improve time to revenue by up to 40%;
  • reduce the cost of onboarding by up to 93% and enable banks to onboard double the number of clients;
  • reduce TCO for compliance and KYC reviews by up to 60%.

Founded in 2009 and headquartered in Dublin, Ireland, Fenergo demonstrated its Deal Manager onboarding and account opening solution at FinovateEurope 2012. The company has raised more than $80 million in funding, and includes Ulster Bank Diageo Venture Fund, Investec, Insight Venture Partners, and Aquiline Capital Partners among its investors.

Finovate Alumni News

On Finovate.com

  • Fenergo Helps Santander Enhance Customer Onboarding Experience.

Around the web

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  • Hip Pocket founder Mark Zmarzly to help promote innovation and provide mentorship to fintech startups in Australia as part of new Queensland-sponsored initiative.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • German Challenger Bank N26 Deploys Banking Technology from Mambu.
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Around the web

  • Baker Hill NextGen Statement Spreading to bolster commercial lending underwriting for People’s Bank and Trust.
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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News

On Finovate.com

  • Mountain America CU Chooses Digital Banking Platform from Alkami Technology.

Around the web

  • i-exceed to power CANDI, a fully digital banking branch of Canara Bank. Come see i-exceed demo at FinovateFall next month.
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  • Visions FCU Implements Gro Solutions’ Digital Sales Platform to streamline new member acquisition. Check out Gro Solutions at FinovateFall next month.
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  • Eugene Danilkis, CEO and co-founder of Mambu, talks digitization, credit scoring, and lending to small businesses.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

44 Alums Populate CB Insights’ Fintech 250 List

This week, CB Insights unveiled its Fintech 250 list. The research outfit selected 250 emerging, private companies in 17 sub-sectors of fintech that are changing the face of financial services. The roster includes 44 Finovate and FinDEVr alums that were selected using CB Insights’ data-driven process that analyzes company momentum, market participation, funds raised, and investor quality.

The list is in alphabetical order.

Algomi

AutoGravity

Avalara

Behalf

Betterment

Blend

Chain

Coinbase

Credit Karma

Currencycloud

CurrencyFair

Fenergo

Financeit

Gusto (formerly ZenPayroll)

Juvo

Kabbage

Kensho

Kreditech

Klarna

LendUp

Moneytree

PayNearMe

Payoneer

Personal Capital

Plaid

Quantopian

Quovo

Revolut

Ripple Labs

Roostify

Signifyd

SocietyOne

Socure

Tink

Token

Tradeshift

Transferwise

TrueAccord

Trulioo

VATBox

Wealthfront

Xignite

Zooz

Zopa