Fenergo has confirmed that U.S. Bank Investment Services has gone live with its Fen-X platform to strengthen onboarding for alternative investment clients and the investors that sit within their funds.
The rollout marks a significant step in U.S. Bank Investment Services’ wider technology overhaul, with the bank aiming to modernise onboarding, workflows and reporting across its private funds business, while giving clients and investors a clearer, more joined-up experience.
Fen-X is designed to strip out manual work from onboarding both underlying investors and direct client relationships, helping speed up account setup without loosening regulatory controls. The platform can also connect with tools that support the wider investor journey, such as screening and tax reporting, and includes an investor portal offering data visualisation and interactive reporting.
Fenergo positions itself as a leading name in CLM technology, building solutions that help financial institutions manage onboarding, know your customer (KYC) checks and lifecycle management across different business lines and regions.
Beyond this deployment, Fen-X already underpins several other functions at U.S. Bank, including its Treasury Management arm, and the bank is in the process of extending the platform to its Global Corporate Trust division. The wider aim, according to the companies, is a scalable system that can support onboarding, KYC and ongoing lifecycle management across multiple jurisdictions, backed by built-in provisions for regulation such as GDPR.
U.S. Bank Investment Services head Alan Flanagan said, “Onboarding is perhaps the most important moment in a relationship because it establishes the foundation for everything that follows. Investment managers expect an experience that is efficient, transparent and responsive, without compromising regulatory rigor. Pairing our commitment to exceptional client service with Fenergo’s CLM technology results in a seamless experience for global investors.”
Fenergo CEO and founder Marc Murphy said, “Fen-X offers U.S. Bank a scalable platform that supports onboarding, KYC and ongoing lifecycle management across multiple business lines and jurisdictions. Fen-X’s global regulatory capabilities including built-in support for GDPR and jurisdiction-specific KYC requirements also position U.S. Bank to accelerate its international growth ambitions while benefiting from Fenergo’s global ecosystem and continuous innovation.”
U.S. Bank Investment Services head Alan Flanagan added, “Enhancing investor onboarding is just the beginning. We’re building a framework that will drive stronger client experiences throughout the entire relationship lifecycle. This investment reflects our commitment to technology and continuously improving how we serve clients and help them achieve their business objectives.”
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