Fenergo Launches Remote Account Opening Solution for APAC Financial Institutions
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This feature is upgradeable
For End Users
You can activate this feature and other links for ALL VENDORS with a VendorMatch Premium subscription. Additionally you can gain access to an increased depth of data, summary reports, RFX reports (detailed completed RFIs - available to financial institutions only) and comparison grids. Please click here for more information.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information.
Speak with an analyst
Financial institutions and their advisors can subscribe to our Analyst Access* service. Effectively phone or (email) a friend you can have on tap advice and support provided by our analysts on this vendor, solution or solution category.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information.
or contact us to discuss a subscription.
Subject to reasonable use.
Survey Summary
The Survey Summary provides a download of the vendor profile, solution profile and the VendorMatch Discovery survey vendor responses used to power the directory. All responses are provided by the vendor online.
Note that this report is a high level summary of the vendor's credentials and a solution's capabilities designed to assist with solution short-listing. The RFX report is the more comprehensive Request For Information report designed to support evaluation and selection, this will only show where the vendor has completed the "RFX" RFI.
HOW TO SUBSCRIBE
To protect vendor data only financial institutions and recognized advisors can subscribe to VendorMatch Premium. Please click here for more information on Premium features or contact us.
RFX Report
The RFX report is an XLS download of the Vendors response to the “RFX” Request for Information for this solution.
The RFX is a centralized golden copy of a RFI authored by our analysts based on their expertise in running real-life system evaluation and selection projects and completed by the vendor online.
Note to protect vendor that only Financial Institutions and recognized Advisor can subscribe to this feature.
In each instance the first time the link is used the user requests permission to access the RFX report and it is the vendor who is required to authorizes access. You will be alerted when the vendor has reviewed your request and granted permission.
HOW TO SUBSCRIBE
Please click here for more information on Premium features or contact us.
To learn more about subscribing to our service options, please contact us here
Cloud-based solution delivers remote account opening across the APAC region
Fenergo, the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions, today announces the launch of its cloud-based digital Remote Account Opening (RAO) solution enabling businesses and individuals in the APAC region to open bank accounts and access financial services remotely.
Available today this cloud solution can be rapidly deployed to allow banks to digitally onboard new customers, while satisfying all Know Your Customer (KYC), Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) requirements, thus reducing the time to onboard, lowering the total cost of ownership and eliminating the need for customers to visit bank branches during the current crisis.
“Businesses across the region should not be delayed in opening accounts or accessing emergency funding. In the current circumstances where physical branches are closed and customers aren’t able to attend in-person meetings, it has never been more important to have a digital-first strategy that facilitates remote account opening. Our Remote Account Openingsolution makes this possible,” said Greg Watson, Head of APAC, Fenergo.
“Industry bodies and regulatory authorities have published statements outlining measures that can be implemented to mitigate the risk of financial crime throughout the pandemic. The Financial Action Task Force (FATF) encourages the use of digital onboarding processes, including digital identity and verification measures in line with recently published FATF guidance. The Hong Kong Monetary Authority (HKMA) and Australian Transaction Reports and Analysis Centre (AUSTRAC) have also published guidance to support financial institutions with compliance obligations, outlining flexible measures that can be implemented and encouraging the use of digital technology to identify and verify customers. Our Remote Account Opening solution allows banks to digitally onboard clients in compliance with regulatory guidance, leverage the latest digital technologies and continue to mitigate the risk of financial crime,” said Rachel Woolley, Global AML Manager, Fenergo.
Fenergo’s remote account opening solution is a pre-configured digital service that seamlessly integrates with a bank’s existing account opening process. It delivers front to back KYC, AML and CFT rules automation and screening. It transforms compliance and offers:
- Pre-configured automated regulatory rules engine and associated workflows
- Digital, dynamic collection of required data and documents (ID and Verification), and automated screening for AML due diligence processes
- Plug and play account opening and client onboarding functionality with API connectivity to enhance existing digital channels and capitalize on previous investments
Fenergo is the leader in KYC and AML digitalization and automation. Its unique regulatory heritage and mutualised community approach to compliance allows it to rapidly develop this proposition. Fenergo’s global partnerships with firms such as Salesforce, DXC Technology and AWS allow the company to digitally deliver its systems and services around the world, and to integrate seamlessly into any bank’s eco-system.
For more information about this new solution go to https://www.fenergo.com/solutions/request-a-demo