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Ireland's Fenergo win big BMO contract

Tuesday, June 03 11:56:25

Fenergo, an Irish-based provider of Client Lifecycle Management solutions for investment banks and capital market firms, today said that it has signed up Canada's BMO Capital Markets for its flagship product.

Fenergo's Regulatory Onboarding solution enables companies to meet increasingly complex regulatory frameworks

Erica Benjamin, Managing Director for Client Onboarding for BMO Capital Markets, said, "Fenergo's Regulatory Onboarding solution provides us with an additional level of flexibility and enhances our ability to prioritise our compliance initiatives."

Fenergo's world-class Regulatory Onboarding solution streamlines onboarding, account opening and client maintenance processes. Its sophisticated rules-driven, risk-based regulatory engine supports compliance with global and local regulations such as AML, KYC, Dodd-Frank, FATCA, MiFID II and EMIR based on a few key data inputs. The solution also manages all the client and counterparty data and documentation required to support compliance management.

BMO Capital Markets represents the second Canadian Regulatory Onboarding deal for Fenergo.

Commenting on the announcement, Marc Murphy, Fenergo CEO, said, "We are truly delighted to welcome BMO Capital Markets to our growing family of clients. Fenergo offers a deep well of pre-built content and experience in regulatory onboarding and entity data management specifically for capital markets and investment banks. Many clients are choosing to implement Fenergo Regulatory Onboarding by focusing on their biggest pain-point or regulatory challenge first. We've invested heavily in the Fenergo platform to provide the enhanced level of flexibility to suit the resources and requirements of financial institutions".