Fenergo, a KYC and CLM digital solutions provider, has partnered with Shieldpay to realise a CLM system and perpetual risk monitoring system.
Shieldpay provides secure B2B payments to legal and professional services firms, financial services, and technology platforms, focusing on high value and high-volume transactions. To date, Shieldpay has processed over $5bn of corporate funds for litigation settlements, M&A deals, real estate and secondary transactions through its digital platform.
Fenergo’s SaaS CLM and transaction monitoring solution enables Shieldpay to consolidate real-time client KYC and AML data in one platform, achieving perpetual customer due diligence and supporting ongoing regulatory policies.
With this in place, Shieldpay can manage a fully digital due diligence process, which will streamline internal operations and allow for faster onboarding of new clients.
With both companies striving to bring genuine innovation in due diligence and payments, formalising a partnership together is part of the next exciting chapter in B2B payments on an international scale.
Shieldpay head of product James Stubbs said, “As we continue to expand, it’s crucial that we have partners that share common goals around making the payments landscape highly secure. Fenergo’s depth of experience in onboarding complex entity structures, transparency, and ability to automate client due diligence made it the standout vendor of choice.”
Fenergo chief strategy and marketing officer Stella Clarke added, “Modern payments businesses like Shieldpay require CLM solutions that provide seamless automation, in addition to a complete view of their clients and ensure full compliance with international regulations.
“Through our solution, Shieldpay can focus on delivering an exceptional overall client experience within a secure environment. We look forward to continuing to be a transparent partner as Shieldpay drives the B2B payments industry forward.”
Last year, Fenergo, released a perpetual KYC solution to streamline periodic review processes.
Copyright © 2023 FinTech Global
