The Weekly Wrap: all you need to know by Friday COB | July 18th

By Puja Sharma

The Weekly Wrap is published every Friday and recaps the week’s main stories and deals, as well as upcoming events and announcements for Prime subscribers only.

The Big Story

Citibank has partnered with Fenergo to implement its Client Lifecycle Management (CLM) platform, a move aimed at transforming how the bank handles client onboarding, regulatory compliance, and lifecycle operations. This strategic adoption is part of Citi’s broader initiative to modernise its infrastructure and enhance the client experience across its institutional business. By integrating Fenergo’s advanced CLM technology, Citi aims to automate and streamline complex processes, including Know Your Customer (KYC), Anti-Money Laundering (AML), and other regulatory requirements that vary across jurisdictions. The platform will help reduce manual workloads, eliminate redundancies, and ensure consistent compliance with global standards.

Fenergo’s solution offers Citi a centralised and scalable system that can adapt to evolving regulatory landscapes while improving operational efficiency. It enables a unified view of client data, which not only accelerates onboarding but also enhances transparency and risk management. This digital transformation is expected to significantly reduce onboarding times and enhance the overall client journey, resulting in smoother and more responsive interactions. Additionally, the partnership reflects Citi’s commitment to leveraging cutting-edge technology to stay ahead in a competitive financial environment. By adopting Fenergo’s CLM platform, Citi is positioning itself to better serve its global client base with agility, compliance, and innovation at the core of its operations. This collaboration highlights the increasing importance of RegTech solutions in enabling financial institutions to navigate regulatory complexity while delivering superior client service.

Deals of the week

• Deep Algorithm raises $1.3m for AI fraud defence
• KUN raises $50m, Series A to expand stablecoin cross-border payments
• Eton Solutions closes $58m round for global WealthTech growth
• Neosurf partners with Paysecure to expand prepaid reach
• Qatar Central Bank approves TrustIn Limited for FinTech Sandbox
• Coda acquires Recharge to expand global prepaid payments reach
• Neosurf partners with Paysecure to expand prepaid reach
• Cathay United opens private bank in Kaohsiung

Be on the lookout for

The “Building a Future-Ready Bank” summit, scheduled for August 7, 2025, in Singapore, is a flagship event by Cedar-IBSi aimed at accelerating the transformation of the banking sector. This high-level gathering will bring together senior banking executives, FinTech leaders, and technology innovators to explore how banks can evolve into agile, customer-centric, and digitally empowered institutions.