Mizuho Americas integrates Fenergo’s software to automate client onboarding

By Pavithra R

Fenergo, a leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions (FIs) has announced that Mizuho Americas, a subsidiary of Mizuho Financial Group has deployed Fenergo’s software to automate Know Your Customer (KYC) and Anti-Money Laundering (AML) regulatory processes, digitalize workflows and accelerate client onboarding onto a single platform.

Through Fenergo’s implementation, Mizuho Americas will have a single, comprehensive view of customers across its business lines, improving efficiencies for internal stakeholders and enhancing the overall client onboarding experience.

“We partner closely with prospective clients to deliver a responsive and seamless approach to onboarding that sets the tone for the long-term client-bank relationship. Implementing Fenergo’s solutions helps us improve our service further by streamlining the client lifecycle journey, significantly reduce onboarding times, ensure compliance, and expedite client due diligence. It helps free up resources to focus on the high-touch client service that differentiates Mizuho Americas,” said Greg Eickbush, Head of Capital Markets Operations, Mizuho Americas.

Mizuho Americas is an integral part of Japan-based Mizuho Financial Group and is a leading FI comprising several legal entities, which together offer clients corporate and investment banking, securities, treasury services, financing, asset management, research and more. By leveraging Fenergo’s CLM solution, the FI will replace manual processes and coordinate its CLM effort with an end-to-end digital solution that eliminates silos between business lines and increases collaboration and transparency.

Fenergo’s solution connects internal stakeholders and clients with third party data, AML screening, and client relationship management (CRM) providers on a single platform, while creating a centralized repository for data and documentation, thereby digitally orchestrating client’s end-to-end journey. The solution allows Mizuho to swiftly and efficiently process low-to-medium risk clients while satisfying regulatory obligations.

“We’re thrilled to be working with Mizuho Americas to transform customer experience across the business. Mizuho is ahead of the curve in that it is the first Japanese bank in the Americas to automate and digitalize CLM processes. In today’s challenging business environment, it is vital that financial institutions can provide a service to clients that is seamless and frictionless and via the channel of their choice. We look forward to extending our solution beyond the Americas division to increase transparency, enhance customer experience and deliver true compliance by design,” said Marc Murphy, CEO, Fenergo.

Mizuho Financial Group also has plans to implement Fenergo’s CLM solution across its Global Securities division, enabling Mizuho to service clients across business divisions and financial products seamlessly.

Founded in 2009, Dublin based Fenergo is a provider of digital solutions in Client Lifecycle Management, AML/KYC Compliance & Data Management for FIs. Its global partnerships with firms such as Salesforce, DXC Technology and AWS allow the company to digitally deliver its systems and services globally, and to seamlessly integrate into any bank’s eco-system.