Fenergo and Refinitiv Partner to Quicken Onboarding Processes

Financial markets data provider Refinitiv announced on Wednesday that it is partnering with Fenergo to speed up client onboarding processes.

A technology provider to the financial services industry, Fenergo helps firms meet regulatory and compliance requirements. The Dublin-based company specializes in customer-related problems that firms face.

Though that may sound like a niche field to be working in, Know Your Customer (KYC) Know Your Customer (KYC) Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes to anti-money laundering regulations, any type of financial fraud and determining whether they are potentially risky for the brokerage.In particular, KYC guidelines in financial services mandate that individuals make a cohesive effort to verify the identity, suitability, and risks Read this Term) and Anti-Money Laundering (AML) Anti-Money Laundering (AML) Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Anti-money laundering (AML) is a term that describes laws, processes, and regulations that are intended to prevent illegally obtained funds from being disguised as income gained through legitimate means. The fundamental purpose of the AML laws is to help safeguard, detect, and report suspicious activity including the predicate offenses to money laundering and terrorist financing, such as securities fraud and market manipulation.Most exchanges have AML measures that include identity verification Read this Term) regulations are stringent in today’s world, particularly for financial institutions.

Thus, it’s unsurprising that Fenergo has managed to expand and open up offices across the globe, including in countries such as Australia, Singapore, the US, and the UK.

“Financial institutions face increasingly stringent global regulatory obligations, which demand the collection, processing and remittance of more client and counterparty data than ever before,” said Phil Cotter, managing director of risk at Refinitiv.

Partners in KYC

Refinitiv also offers a set of KYC/AML tools to its clients. And it’s one of these solutions, World-Check One, that Fenergo will be integrating with.

According to a statement released by the two firms, the deal will allow firms to have a better overview of the acceptance or rejection of changes, report on governance status, sign-offs, and supporting attachments.

“In partnering with Refinitiv, we can automate data collection bringing huge efficiencies to client onboarding and account opening processes, increasing time to revenue and reducing client outreaches,” said Marc Murphy, Fenergo’s chief executive officer.

“Our complimentary solutions enable the shift from time-based client KYC reviews to a perpetual and continuous KYC review model.”