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First Abu Dhabi bank (FAB) has integrated Fenergo’s SaaS Client Lifecycle Management (CLM) solution to speed up onboarding and enhance its anti-money laundering (AML) compliance processes.
FAB can now onboard small-to-medium sized clients within six months of implementing Fenergo’s API and configuration-first solution.
Fenergo will allow FAB to deliver end-to-end digital client onboarding and risk assessment for sanctions, AML and Know Your Customer (KYC).
As a result, FAB can straight-through-process its low-risk customers, enhancing onboarding efficiency and minimising costs.
Fenergo says that with their CLM solution, “FAB will gain a holistic view across every stage of the client’s life cycle, from initial client onboarding, regulatory compliance and maintenance and off-boarding. This will help the bank reduce silos, increase transparency and ensure greater cross functionality between technology, data and operations teams.”
