Fenergo Launches Fen-Xcelerate, A SaaS Client Lifecycle Management Solution for Mid-Sized & Boutique Financial Institutions

Fenergo, the leading provider of digital transformation and client lifecycle management (CLM) technology, today announces the launch of Fen-Xcelerate, a lower cost, cloud-based version of Fenergo’s CLM solution, tailored specifically to mid-tier and boutique commercial, business and retail banks seeking to accelerate digital transformation.

The cloud-based solution, powered by Amazon Web Services (AWS), delivers frictionless, end-to-end customer journeys and client lifecycle management on a single platform.

Fen-Xcelerate’s unique ecosystem is comprised of out-of-the-box, best-of-breed integrations with partners including Salesforce, Refinitiv’s World-Check One, RDC, and DocuSign. The solution also supports integration with transaction monitoring services, Fenergo’s own customer-facing portal and core banking systems, amongst others.

Many mid-tier commercial, business and retail banks lack the technology required to offer digital services and open accounts remotely, while being able to meet regulatory obligations and detect financial crime. Validated by the industry, Fen-Xcelerate can be quickly deployed to digitalize account opening while delivering a seamless customer experience and regulatory compliance across 100+ jurisdictions.

James Follette, Global Head of Commercial, Business & Retail Banking, Fenergo, said:

“With Fen-Xcelerate, mid-tier and boutique banks can benefit from Fenergo’s deep financial services heritage and best-in-class customer relationship management (CRM), data, screening and ID&V integrations in one solution. By leveraging Fen-Xcelerate the goal posts for digitalization within these banks could move from 18 months to just weeks.”

Adam Kupperman, Global Head of Partnerships, RDC, said:

“The ability for such banks to incorporate market leading risk screening, transaction monitoring, ID&V and information solutions is a challenge, as most do not desire to integrate standalone solutions, plug them independently into their technology stack and try to make the whole ecosystem operate seamlessly together. The beauty of Fen-Xcelerate is that Fenergo provides customers with a seamlessly integrated platform for Know Your Customer (KYC) and Anti-Money Laundering (AML) processes, including RDC’s best-in-class customer and third-party risk screening capabilities.”

Fen-Xcelerate is pre-configured to greatly reduce implementation costs and deliver the following benefits:

• Rapid deployment with limited configuration in 6-12 weeks
• Faster digital account opening and customer journey management
• Improved operational efficiencies and frictionless customer journeys
• Streamlined AML, KYC, Counter Terrorist Financing (CTF) compliance
• Ability to manage risk by exception for straight through processing, serving customers faster
• Over 300% ROI in three years(subject to no customization)
• Access to Fenergo’s community of global banks and regulators

Key features are as follows:

• Fully managed cloud service in partnership with AWS
• One consolidated solution for digital transformation
• Industry-validated rules engine covering regulations in 100+ jurisdictions
• Centralized data and document management
• Option to add additional integration modules, such as transaction monitoring
• Automated KYC, AML, CTF compliance

Fenergo has been recently certified as an AWS Financial Services Competency Partner. Fenergo’s partner ecosystem includes IBM, Salesforce, Accenture, PWC, Cap Gemini, DXC Technology and Luxoft, amongst others.