Netherlands-based commercial bank NIBC has partnered with Ireland-based SaaS financial technology solutions provider Fenergo . In essence, NIBC is adopting Fenergo's KYC and onboarding solution to achieve operational efficiencies.

The integration of Fenergo's API-first solution with Salesforce at the front end aims to establish a unified client view across the business thus improving client onboarding. This integration minimises data silos and duplication efforts, enabling NIBC employees to allocate more time to revenue-generating, client-specific tasks. According to the official press release,  the automation of onboarding and compliance processes is expected to enhance NIBC's resilience to evolving anti-money laundering (AML) regulations.

Officials from NIBC mentioned the need to replace their in-house KYC system and expressed satisfaction with Fenergo's KYC solution. The deployment of Fenergo's technology is seen as an opportunity to enhance NIBC's KYC capabilities, with the onboarding project team delivering results within a short timeframe. In turn, representatives from Fenergo expressed delight in supporting NIBC's KYC processes, highlighting the API-first approach for smoother integration with front-end solutions.

This approach aims to provide NIBC with increased visibility and seamless data orchestration across important systems. More information about Fenergo and its previous partnerships Fenergo specialises in Client Lifecycle Management (CLM) solutions, digitally transforming how financial institutions manage clients throughout their lifecycle. The software automates regulatory compliance, from initial KYC and onboarding to continuous monitoring, ensuring institutions are future-proofed against evolving regulations.

In September 2023, Luxembourg-based Arendt Services partnered with Fenergo to offer improved experiences to its investment management clients. Through this partnership, Arendt Services used Fenergo’s Software-as-a-Service (SaaS) Client Lifecycle Management (CLM) solution to provide investors with a frictionless onboarding and maintenance experience. The company’s objective was to improve operational efficiencies by optimising its investor onboarding, ongoing due diligence, and regulatory compliance process.

In June 2023, Fenergo partnered with Finland-based cryptocurrency service provider Coinmotion. Through this collaboration, Coinmotion used Fenergo's Transaction Monitoring system to enhance its understanding of customer behaviour in real-time. This enabled the cryptocurrency service provider to promptly report any suspicious transactions to the Financial Intelligence Unit (FIU).

The integration of Fenergo's solution was aimed at advancing Coinmotion's Anti-Money Laundering (AML) compliance processes. By leveraging Know Your Customer (KYC) and transactional data, Coinmotion aimed to detect suspicious activities instantly. .