Market leaders to collaborate on driving superior operational efficiency for customer due diligence
December 7, 2017 -- Regulatory DataCorp, Inc. (RDC), the global leader in compliance screening, today announced a partnership with Fenergo, a leading provider of Client Lifecycle Management solutions.
By combining RDC's world-class collection of risk-relevant data and machine learning technology with Fenergo's market-leading client lifecycle management platform, global financial institutions and financial technology (FinTech) companies will be better equipped to achieve KYC/AML compliance as well as realize greater operational efficiencies in their onboarding and customer due diligence practices.
"Financial institutions of all sizes wrestle with achieving comprehensive and efficient customer due diligence," said Thomas Obermaier, CEO of RDC. "RDC has grown by finding more risks and eliminating more false positives than anyone else and we're delighted to be partnering with Fenergo. We believe their strong case management and workflow capabilities will further reduce the workload our customers face while also enabling them to better fight money laundering, corruption and financial crimes"
Two distinct market trends served as the impetus for this new relationship. First, the continual rise in regulatory changes combined with soaring global AML threats creates massive and unmanageable compliance and due diligence workloads for companies of all size. Secondly, ongoing margin pressure as well as flat/decreasing net interest income makes it increasingly important to evolve to a more efficient, central competency or "center of excellence" compliance model.
Marc Murphy, Fenergo's CEO, commenting on the RDC partnership, stated, "Fenergo continues to serve our growing client community, comprised of a global regulatory collective of 20,000+ risk and compliance experts. Not only does this regular interaction inform our own regulatory and product roadmaps to ensure continued global compliance and regulatory surety for our clients, but also guides us to seek out strategic partnerships that complement our solutions. As a joint offering, RDC's GRID database and intelligent filtering with its name-matching functionality adds yet another best in class component to our client lifecycle management suite."
Regulatory DataCorp, Inc. (RDC), the Smarter ScreeningTM company, delivers powerful, decision-ready intelligence and world-class risk and compliance protection, allowing global organizations to identify banned/suspect entities, strengthen fraud protection, ensure regulatory compliance, manage supply and distribution risk, and protect their brand equity. With the world's largest open source risk-relevant database, RDC provides AML/KYC compliance; Politically Exposed Persons (PEP) protection; emerging market intelligence; corruption, fraud and crime protection; and vendor screening and monitoring to a wide range of clients worldwide. Founded by 20 of the world's leading financial institutions, today RDC is a Vista Equity Partners portfolio company. Learn more about RDC by emailing firstname.lastname@example.org or visiting www.rdc.com.
Fenergo is a leading provider of Client Lifecycle Management software solutions for investment, corporate and private banks. Its solutions help institutions to efficiently manage the end-to-end regulatory onboarding and entity data management processes. The intelligent rules-driven solution ensures compliance with multiple regulatory frameworks and supports the collection, centralization and sharing of client and counterparty data and documentation across the institution. By expediting compliance and improving operational efficiencies, Fenergo's solutions can onboard clients faster, improve time to revenue and enhance the overall client experience. Fenergo's recent accolades include: Chartis RiskTech100 (third consecutive year, rising 25 places in 2017); Top Performer in RegTech Performance (Banking Technology MarketFintech, 2017 and 2016); Best Compliance Product (Sell-Side Technology Awards 2016), FinTech Forward Company to Watch (American Banker, 2015), Chartis RiskTech100 (2016 and 2015) and Best Enterprise Data Management Initiative (Inside Reference Data, 2014).
Michael Kerman, +1 484-688-5164