Fenergo Launches Remote Account Opening Solution for APAC Financial Institutions
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 on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a full download of the vendor profile, the solution profile and all survey response information uploaded by the vendor in connection with their VendorMatch directory listing. Note that the directory listing requires only check box responses where the RFX response is more comprehensive.
To learn more about subscribing to our service options, please contact us here
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 on Premium features.
For Vendors
Vendors can activate their links and gain access to analytics by upgrading to VendorMatch PRO. Please click here for more information
Ask an Analyst
Ask an analyst is the ability to communicate with one of our analysts about this vendor, system or genre of solution.
Survey Summary
The Survey Summary provides a full download of the vendor profile, the solution profile and all survey response information uploaded by the vendor in connection with their VendorMatch directory listing. Note that the directory listing requires only check box responses where the RFX response is more comprehensive.
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