Shieldpay taps Fenergo to improve risk monitoring
By Gloria Methri
Fenergo, the provider of digital solutions for Know Your Customer (KYC) and Client Lifecycle Management (CLM) has announced its partnership with Shieldpay. The companies are working together to realise a comprehensive CLM system and perpetual risk monitoring.
Shieldpay provides secure B2B payments to legal and professional service firms, financial services, and technology platforms, focusing on high-value and high-volume transactions. To date, Shieldpay has processed over $5 billion of corporate funds for litigation settlements, M&A deals, real estate, and secondary transactions through its digital platform.
Fenergo’s Software as a Service CLM and transaction monitoring solution enables Shieldpay to consolidate real-time client KYC and AML data in one platform. With this, Shieldpay can manage a digital diligence process, which will streamline internal operations and allow faster onboarding of clients.
With an advanced 360-view of their clients and continuous risk monitoring on their platform, Shieldpay is revolutionising the payments industry for financial crime identification and prevention.
With both companies striving to bring genuine innovation in due diligence and payments, formalising a partnership together is part of the next chapter in B2B payments on an international scale.
Commenting on the selection, James Stubbs, Head of Product, Shieldpay, said, “Fenergo’s depth of experience in onboarding complex entity structures, transparency, and ability to automate client due diligence made it the standout vendor of choice.”
Stella Clarke, Chief Strategy and Marketing Officer, Fenergo said, “Modern payments businesses like Shieldpay require CLM solutions that provide seamless automation, in addition to a complete view of their clients and ensure full compliance with international regulations. Through our solution, Shieldpay can focus on delivering an exceptional overall client experience within a secure environment. We look forward to continuing to be a transparent partner as Shieldpay drives the B2B payments.”
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