Citi’s World Switch Company has adopted Fenergo’s Shopper Lifecycle Administration (CLM) platform to digitise investor onboarding and due diligence processes for regulated funds in Europe.
The platform helps customised, policy-based danger assessments for Anti-Cash Laundering (AML) and Know Your Buyer (KYC) checks, serving to Citi streamline investor onboarding.
Shoppers additionally acquire entry to automated information validation and real-time reporting via API connectivity.
Citi’s World Switch Company kinds a part of its Fund Providers enterprise, which offers companies to institutional shoppers corresponding to asset managers and funding managers working regulated funds for each institutional and retail buyers.
“The Fenergo platform brings collectively new era expertise with in-depth working information of the regulatory surroundings that’s essential to supporting a breadth of multi-domiciled investments throughout numerous asset courses,”
stated Larissa Sototskaya, Head of World Switch Company at Citi Fund Providers.
“Because the regulatory surroundings evolves, the adoption of Fenergo ensures that we transfer at tempo with the trade whereas offering a real-time view of investor statuses.”
Ruth Ormsby, Managing Director for EMEA at Fenergo, stated:
“Fenergo is firmly established because the market chief on this space and we’re dedicated to evolving our platform with the most recent improvements. This aligns with our aim to empower monetary establishments like Citi to create a extra participating expertise for buyers, whereas sustaining the very best requirements of compliance and operational excellence.”
This newest improvement kinds a part of Citi Switch Company’s broader digital transformation efforts and follows the launch of its digital Switch Company service within the UK in 2023, the place it already offers a totally digital shopper lifecycle service for funds.
Featured picture credit score: Edited by Fintech Information Switzerland, primarily based on picture by Declan Solar through Unsplash