Arachnys and Fenergo today announced a joint partnership. Arachnys, the marketing-leading provider of cloud-based investigation management technology, partners with Fenergo, the leading provider of Client Lifecycle Management solutions for investment, corporate and private banks.
This partnership will provide seamless inclusion of Arachnys’s due diligence research and management solution within Fenergo’s end-to-end onboarding workflow, to add global screening and KYC data collection capability, ensure a seamless and integrated audit trail for external information, enable automated periodic review, and accelerate onboarding and compliance for new business.
Arachnys’s expertise in search, audit trail, and reporting will support Fenergo’s regulatory rules and risk scoring engine to offer financial institutions the most comprehensive solution for KYC and CLM.
Ed Sander, President of Arachnys, said: “We are delighted to partner with Fenergo to improve the visibility and tracking of due diligence processes across the customer risk lifecycle, eliminating the need to work across multiple systems. The harmony between Fenergo’s rules engine and Arachnys’s search, audit trail and reporting technologies will convert compliance into an accelerator for top line revenue.”
Marc Murphy, Fenergo’s CEO, commenting on the Arachnys partnership, stated: “As Fenergo continues to expand and serve our client community, comprised of a global regulatory collective of 20,000+ risk and compliance experts, strategic partnerships with firms like Arachnys are key. Their use of robotics for investigative processes is cutting edge. Our community is seeking to deploy new technologies for automating regulatory compliance. Integrating our CLM suite with Arachnys’ cloud-based investigative management capabilities will enhance risk mitigation across our collective customer base.”