BMO Capital Markets, a financial services provider dealing in multiple asset classes, has tabbed investment solutions specialist, Fenergo, for its regulator technology and client onboarding service, according to a BMO Capital Markets statement.
BMO Capital Markets offers a widespread array of services, including equities, commodities, derivatives and Forex. The need for constant regulatory scaling and stricter standards has necessitated BMO to pursue additional tax compliant and transparency means, culminating in the selection of Fenergo. As such, Fenergo’s Regulatory Onboarding solution offers companies the chance to satisfy increasingly complex regulatory frameworks, whilst focusing on a client-centric onboarding experience.
According to Erica Benjamin, Managing Director for Client Onboarding for BMO Capital Markets, in a recent statement on the integration, “Fenergo’s Regulatory Onboarding solution provides us with an additional level of flexibility and enhances our ability to prioritize our compliance initiatives.”
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Fenergo Maintains Full Compliance
Indeed, Fenergo offers clients a multitude of services, however the company’s regulatory onboarding solutions is its most widely known offering. Furthermore, the solution is fully compliant with such regulations as AML, KYC, Dodd-Frank, FATCA, MiFID II and EMIR based on a few key data inputs.
“We are truly delighted to welcome BMO Capital Markets to our growing family of clients. Fenergo offers a deep well of pre-built content and experience in regulatory onboarding and entity data management specifically for capital markets and investment banks. Many clients are choosing to implement Fenergo Regulatory Onboarding by focusing on their biggest pain-point or regulatory challenge first. We’ve invested heavily in the Fenergo platform to provide the enhanced level of flexibility to suit the resources and requirements of financial institutions,” added Marc Murphy, Fenergo CEO, in an accompanying statement.