Global investment management firm selects Fenergo to boost investor lifecycle management

By Megha Bhattacharya

Fenergo today announced that it has been selected by a top five global investment management firm with $2 million AUM. The company aims to offer best practice workflows for separate account onboarding and alternative client counterparty due diligence and intermediary/distributor oversight for the firm’s global offices. Fenergo also stated that it will equip the firm with Know Your Customer (KYC), Customer Due Diligence (CDD), Anti-Money Laundering (AML) systems, and risk scoring services.

“Our client is a pioneer in digital transformation and is a market leader. We are focused on enabling the firm to transform CX and deliver even greater value to its investor community with the delivery of our award-winning Investor Lifecycle Management capabilities,” said Kevin O’Neill, Global Head of Asset Management & Asset Servicing at Fenergo.

According to Fenergo, its SaaS offering will enable the firm to deliver an end-to-end solution that would support the management of its investor, counterparty, and intermediary lifecycle management requirements while improving the customer journey and driving efficiencies by replacing manual processes.

Fenergo will enable the investment management company to also maintain all client information in a single system of record, serving as a source for KYC data. This single customer data repository is expected to reduce the need for repeated requests for customer information whilst allowing time for employees to focus on value-added tasks. The company will be able to easily identify and trace Ultimate Beneficial Owners (UBOs) and visualize links to multiple relationships.

Fenergo stated that its customer is a global investment management firm focusing on active fixed income management. It manages investments and develops solutions across the full spectrum of asset classes, strategies, and vehicles including fixed income, equities, commodities, asset allocation, exchange trade funds (ETFs), hedge funds, and private equity.

Recently, Fenergo announced the findings of its global asset management research. The research revealed that most firms feel that it’s important to have a digital transformation strategy, but only one third have reported completion (37%). Two thirds (60%) of firms globally have not completed their cloud readiness strategy and 58% of firms are prioritizing investment for cloud technology within the next year. 44% are implementing AI into their customer experience and over the next two years, 53% of asset managers expect to introduce robotics processing automation (RPA) and blockchain (47%).