FMO selects Fenergo to modernise KYC and client onboarding

By Vriti Gothi

Dutch entrepreneurial development bank FMO has selected Fenergo’s client lifecycle management (CLM) platform to streamline know your customer (KYC) and onboarding processes across its diversified portfolio in emerging markets.

The move reflects growing pressure on development and multilateral banks to strengthen compliance frameworks while managing complex client relationships across jurisdictions with varying regulatory standards. As regulatory scrutiny intensifies globally, institutions operating in higher-risk or developing markets are increasingly turning to technology to balance robust due diligence with operational efficiency.

Under the partnership, FMO will deploy Fenergo’s CLM solution and Document Agent to centralise and automate customer due diligence, documentation, and onboarding workflows. The platform is expected to help the bank reduce onboarding timelines, improve transparency, and provide greater consistency in KYC processes across its portfolio.

FMO said the implementation will also allow teams to shift resources away from manual compliance tasks toward higher-value activities, while improving client engagement through more efficient onboarding journeys and better data visibility.

“Fenergo stood out for its proven ability to handle comprehensive customer due diligence in emerging markets, amid demanding regulatory requirements,” said Friso Schellekens, Director of KYC at FMO. “We require a partner that aligns with our governance framework, and Fenergo’s market-leading CLM platform and approach to SaaS and AI governance delivers this while providing our teams with the clarity and efficiency needed to perform effective KYC processes.”

For Fenergo, the agreement marks its first client in the development banking segment, expanding its footprint beyond commercial and investment banking into institutions with strong development and sustainability mandates. The company said the collaboration supports its broader strategy to evolve CLM platforms from workflow tools into intelligent systems that actively support compliance decision-making.

“We are proud to welcome FMO as our first development banking client,” said Ruth Ormsby, Managing Director, EMEA at Fenergo. “Their focus on maintaining rigorous compliance controls and transparency is completely aligned with Fenergo’s values. Our mission is to evolve the product from a passive digital tool into an active, intelligent system that empowers users to focus on their most critical business tasks.”