back Back

First Abu Dhabi Bank bolsters CLM operations with Fenergo

By Gloria Methri

June 20, 2024

  • AML Compliance
  • Anti-Money Laundering (AML)
  • Client Lifecycle Management
Share

First Abu Dhabi Bank, Fenergo, SaaS, CLM, AML, FinTech, UAEFirst Abu Dhabi Bank (FAB) has integrated Fenergo’s SaaS Client Lifecycle Management (CLM) solution to speed up client onboarding and enhance its anti-money laundering (AML) compliance processes.

FAB could start onboarding new small to medium-sized business clients within six months of implementing Fenergo’s API and configuration-first solution. In the coming months, the bank will roll out the platform to support corporate and institutional clients.

Fenergo will enable FAB to deliver end-to-end digital client onboarding and risk assessment for sanctions, AML and KYC. This will allow FAB to straight through process its low-risk customers, enhancing onboarding efficiency and minimising costs.

By deploying Fenergo’s CLM solution, FAB will gain a holistic view across every stage of the client’s life cycle, from initial client onboarding, regulatory compliance and maintenance and off-boarding. This will help the bank reduce silos, increase transparency and ensure greater cross-functionality between technology, data and operations teams.

Beyond delivering greater operational efficiency and regulatory certainty for the bank, Fenergo’s SaaS solution will enable FAB to stay abreast of customers’ developing needs and expectations. This will empower it to provide customers with a superior client experience—a primary factor behind FAB’s decision to deploy Fenergo.

First Abu Dhabi Bank is one of the most prominent financial institutions in the UAE, recognised for its commitment to providing outstanding customer service. As the preeminent bank in the country, FAB provides a comprehensive range of financial products and services to serve the diverse and growing needs of its clients.

Previous Article

June 20, 2024

Sumsub & Finastra team to strengthen Banking sector compliance

Read More
Next Article

June 20, 2024

Mexican FinTech unicorn Clip secures $100m investment

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

AML Compliance

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

PayDo partners with ClearBank for automated currency conversion

Read More

Today

Finastra & CredAble team to offer supply chain finance to banks globally

Read More

Today

QIB adds Request to Pay to Fawran instant payment service

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024