{"id":5282,"date":"2019-05-16T13:33:58","date_gmt":"2019-05-16T13:33:58","guid":{"rendered":"https:\/\/fintech.global\/AIFinTechForum\/?p=5282"},"modified":"2019-05-16T13:33:58","modified_gmt":"2019-05-16T13:33:58","slug":"fenergo-partners-with-refinitiv-to-help-customers-better-identify-risk","status":"publish","type":"post","link":"https:\/\/fintech.global\/AIFinTechForum\/fenergo-partners-with-refinitiv-to-help-customers-better-identify-risk\/","title":{"rendered":"Fenergo partners with Refinitiv to help customers better identify risk"},"content":{"rendered":"

Fenergo, digital client lifecycle management company, has partnered with Refinitiv to help customers better identify risk.<\/strong><\/p>\n

Refinitiv is a global provider of financial markets data and infrastructure to combat a selection of data management, governance, risk and compliance burdens. Some of its tools are used for enhanced due diligence, streamlined KYC, pricing and reference data, investment management, and analysis tools, among others.<\/p>\n

One of its solutions is the World-Check Risk Intelligence platform which helps firms to meet due diligence and KYC screening obligations. By giving clients accurate and reliable information, they are able to make informed decisions around third-parties and customers and monitor everything in one location.<\/p>\n

The solutions give due diligence data around global regulatory and law enforcement lists, politically exposed persons, state owned entities, global sanctions lists and others.<\/p>\n

By integrating the Refinitiv World-Check One solution into Fenergo, it allows customers to quickly identify potential risks and respond to threats from across the enterprise. It will also allow users to create and maintain a model inventory and clear evidence trail of the acceptance or rejection of changes, report on governance status, sign-offs, supporting attachments and related issues in one location.<\/p>\n

Refinitiv managing director of risk Phil Cotter said, \u201cFinancial institutions face increasingly stringent global regulatory obligations, which demand the collection, processing and remittance of more client and counterparty data than ever before.<\/p>\n

\u201cThrough the combination of Fenergo\u2019s market-leading CLM solution and Refinitiv\u2019s World-Check One, financial institutions can better manage increasing amounts of regulation that require them to collect more data and documentation from clients,\u201d<\/p>\n

A study conducted by Fenergo found that 81 per cent of C-suite executives in banks believe information gathering and managing increasing volumes of client data is lengthening compliance and onboarding. In turn, this is having a negative impact on customer experience. The study also found that only 15 per cent of respondents had automated data collection.<\/p>\n

In working together, will reduce the need of repeated customer outreaches for information, which will enable financial firms to streamline customer due diligence and put efforts towards optimising customer experience.<\/p>\n

Fenergo CEO Marc Murphy said, \u201cIn 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. Our complimentary solutions enable the shift from time-based client KYC reviews to a perpetual and continuous KYC review model.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Fenergo, digital client lifecycle management company, has partnered with Refinitiv to help customers better identify risk. Refinitiv is a global provider of financial markets data and infrastructure to combat a selection of data management, governance, risk and compliance burdens. Some of its tools are used for enhanced due diligence, streamlined KYC, pricing and reference data,… <\/p>\n

<\/div>\n

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