Union Investment taps Fenergo to modernise KYC operations

By Puja Sharma

Strategic transformation initiative will unify KYC, onboarding and Client Lifecycle Management operations, while strengthening AMLR readiness across the Union Investment group

Union Investment, a Germany-based asset manager, has selected Fenergo, a provider of AI-powered solutions for Know Your Customer (KYC), Anti-Money Laundering (AML) and Client Lifecycle Management (CLM), to support a strategic enterprise-wide transformation of its client lifecycle and KYC operations.

Union Investment has taken a major transformation initiative to streamline onboarding and KYC processes across its subsidiaries and business lines, creating a more connected and future-ready operating model.

 The programme is designed to strengthen operational scalability, improve customer experience and support evolving regulatory obligations, including the upcoming EU Anti-Money Laundering Regulation (AMLR), which comes into effect in July 2027.

 Using Fenergo’s end-to-end CLM platform, Union Investment will unify customer lifecycle operations across onboarding, KYC, screening, customer risk management, periodic reviews and case management. The implementation will also introduce enhanced workflow automation, a single customer data framework and integrated client portal capabilities to simplify client interactions and document exchange.

“This initiative is not simply a compliance project, it is a strategic transformation programme designed to establish a consistent, enterprise-wide KYC operating model across the Union Investment group,” said Bettina Tews, Member of the Executive Board at Union Investment Service Bank AG. “We were looking for a partner capable of supporting complex, large-scale lifecycle management operations while helping us improve automation, transparency and customer experience across jurisdictions and business lines. Fenergo’s platform and AI vision aligned strongly with our long-term goals.”

Union Investment selected Fenergo following a competitive evaluation process, citing the company’s enterprise-grade CLM platform, deep KYC and AML expertise, workflow orchestration capabilities, compliance automation, consolidated customer data management and integrated client engagement capabilities.

“Union Investment is taking a strategic and forward-looking approach to transforming client lifecycle management across the organisation,” said Ruth Ormsby, Managing Director of Fenergo EMEA. “Financial institutions are under increasing pressure to replace fragmented onboarding and KYC environments while preparing for rapidly evolving regulatory expectations. By partnering with Fenergo, Union Investment is creating a centralised, scalable enterprise operating model that will improve operational efficiency, strengthen compliance readiness and enhance the overall client experience.”

A key component of the transformation will be the implementation of Fenergo’s client portal capabilities, enabling more efficient and transparent onboarding and review interactions through secure digital document exchange, automated communications and improved visibility into outstanding requirements.

The programme will also establish the foundation for future AI-enabled operational capabilities, including AI-assisted document extraction and classification, intelligent workflow orchestration, false-positive reduction in screening processes and ownership structure analysis. Fenergo continues to support financial institutions globally as they evolve client lifecycle operations, strengthen operational resilience and respond to increasing regulatory complexity through AI-powered automation and connected lifecycle management.