28 April 2017
visit nextgenbanking.co.uk

Scotiabank implements Fenergo regulatory onboarding tech

18 February 2014  |  1598 views  |  0 Source: Fenergo

Fenergo today announced that the firm's Regulatory Onboarding solution has been launched by Scotiabank, Canada's most international bank.

"I am proud to announce Scotiabank as our latest implemented client," said Marc Murphy, Chief Executive Officer (CEO), of Fenergo. "Like Scotiabank, many financial institutions are facing a torrent of regulations which have a significant impact on client and counterparty data and the ability to onboard clients in a timely manner.

"With Fenergo's solutions, financial institutions can benefit from clean, golden source data, a rules-driven compliance process that spans multiple regulations and a world-class onboarding workflow process that will enable them to onboard new clients and products quickly and efficiently," added Mr Murphy.

Fenergo's Regulatory Onboarding solution was successfully implemented by Scotiabank's Global Banking and Markets division to help automate, streamline and standardize regulatory onboarding processes, data and documentation across six business segments. The implementation also supports Scotiabank's centralized know-your-customer and anti-money-laundering processes, establishing a common process for regulatory onboarding.

"We chose Fenergo to support regulatory onboarding across our Global Banking and Markets division," said Nicola Ray Smith, Managing Director, Global Capital Markets, Scotiabank. "We wanted a solution that would support an efficient onboarding experience for all of our customers."

The contract with Scotiabank builds on Fenergo's expanding client base, which includes leading financial services organizations such as Lloyds Banking Group, Rabobank and RBS.

Fenergo's solution also supports regulatory frameworks such as the Foreign Account Tax Compliance Act (FATCA), Dodd-Frank and the European Market Infrastructure Regulation (EMIR), as well as similar G20 driven OTC regulations in Canada and Asia. First implemented in Canada, the U.S. and the U.K., the solution is easily expandable for additional jurisdictions. 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit dh.comVisit capgemini.comFind out more

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin ETF Bites the Dust, Needs More Sec...
17573 views 0 | 7 tweets | 7 linkedin
BBVA runs live funds transfers over RippleBBVA runs live funds transfers over Ripple
12247 views comments | 32 tweets | 20 linkedin
EC plans blockchain 'observatory'EC plans blockchain 'observatory'
8788 views comments | 9 tweets | 16 linkedin
Plastc goes into meltdownPlastc goes into meltdown
7369 views comments | 12 tweets | 7 linkedin
Six global banks join Swift DLT trialsSix global banks join Swift DLT trials
7175 views comments | 15 tweets | 36 linkedin

Featured job

to 120K base, £300K ote, stock options
London, UK

Find your next job