Fenergo, the leading provider of Client Lifecycle Management technology solutions for financial institutions spanning asset management, investment, corporate, retail and private banks, has announced a strategic partnership with Delta Capita, the international business and technology consulting and managed service provider.
This strategic partnership will provide the financial industry with new managed service solutions for solving client onboarding, regulatory compliance, and entity data management challenges.
Fenergo and Delta Capita are delivering the “Powered by Fenergo” remediation offering to address the significant market demand for remediation services by financial institutions. Both parties consider that the successful provision of this offering will act as a catalyst to the subsequent adoption of Fenergo CLM as either an onsite solution or incorporated as part of an outsourced packaged managed service delivered by Delta Capita.
Delta Capita has a proven track record in providing managed service solutions to the international financial services industry, most notably their selection by Credit Suisse for the outsourcing of its EMEA structured products business platform in 2017. Tom Kastelein, Delta Capita’s Benelux Regional Head, commented, “The managed service will be a truly global solution, servicing clients locally in established regions through our service hubs based in the UK, Benelux, Frankfurt, Johannesburg, NY, Singapore and HK. The service will focus on helping Tier 2 and Tier 3 banks as well as non-bank financial service organisations that are seeking to simplify and reduce the total cost of ownership associated with operating their internal business platforms. Importantly, we are also making the service available to support client remediation projects under flexible terms. We see many clients struggling with remediation due to the lack of proper tooling, controls and reporting, resulting in ever escalating staff costs.”
Delta Capita’s strong industry, technical and project experience has also warranted its appointment as a Fenergo Partner, in order to help clients successfully execute projects across a variety of Client Lifecycle Management, Know Your Customer (KYC) implementations and tax operations.
Joe Channer, Delta Capita’s CEO, commented, “We are delighted to be entering this strategic partnership with Fenergo that will bring a new disruptive service offering to market for helping clients meet their Client Lifecyle Management challenges. The current proprietary approach to managing the client lifecycle is now unsustainable for many medium- and smaller-sized firms. Clients are seeking to reduce the cost and complexity of ownership and are seeking new disruptive utility-style business models offering industry standardisation based on best practice and mutualised cost benefits. This partnership arrangement is a response to that demand and offers Clients a real alternative to in-house managed solutions.”
Speaking on the announcement, Marc Murphy, Fenergo CEO, said, “Fenergo is excited to welcome Delta Capita as its initial partner in our Partner Platform Programme. The synergies between our two companies are apparent as we serve clients across similar markets and geographies. This is a significant development for Fenergo as it allows us to service new segments of the market. These firms will not only benefit from Fenergo’s industry-standard solution but will also have access to our client community, a global regulatory collective of 20,000+ risk and compliance experts. I look forward to a successful and mutually beneficial relationship with Delta Capita.”