Fenergo rolls out KYC for Salesforce on Salesforce AppExchange

By Megha Bhattacharya

Fenergo announced that it has launched Fenergo KYC & Onboarding for Salesforce on Salesforce AppExchange. The development is expected to provide customers with ways to deliver automated straight through client journeys while satisfying Anti-Money Laundering (AML) and Know Your Customer (KYC) regulatory requirements.

“We are excited that Fenergo is continuing to innovate on AppExchange as it powers digital transformation for financial institutions enabling enhanced client onboarding,” said Woodson Martin, GM of Salesforce AppExchange. “AppExchange is constantly evolving to meet the needs of our customers, and we love watching our partners evolve alongside us.”

According to Fenergo, the app connects Fenergo’s client lifecycle management (CLM) and regulatory intelligence with Salesforce’s client relationship management (CRM), allowing financial institutions (FIs) to improve customer experience and accelerate onboarding through front-to-back office integration.

Financial institutions will be able to achieve a 360-degree client view via configurable workflows between front, middle and back-office systems and understand the status of AML and KYC compliance processes in real-time.

Marc Murphy, CEO, Fenergo, said, “Fenergo’s regulatory expertise and commitment to enhancing customer experience creates a natural synergy with Salesforce. In today’s highly challenging business environment, there is no margin for error in delivering exceptional, digital, and joined-up customer experiences. Automation is key so that customers can be onboarded without unnecessary manual intervention in the back-end processes. Salesforce is the launchpad for automated onboarding while Fenergo ensures compliance by design through API-powered multi-channel orchestration.”

Recently, Fenergo 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.