Arachnys, a cloud-based investigation management technology provider, has forged a strategic partnership with Fenergo, a provider of client lifecycle management (CLM) solutions, to automate financial institutions’ regulatory compliance and enhance risk mitigation.
The agreement will lead to integration of Arachnys’s due diligence research and management solution within Fenergo’s end-to-end onboarding workflow.
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The integration of Arachnys’ search, audit trail and reporting functionality with regulatory rules and risk scoring engine of Fenergo’s will give financial institutions a comprehensive know your customer (KYC) and CLM solution.
Arachnys president Ed Sander 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.”
Fenergo CEO Marc Murphy said: “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.
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By GlobalData“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.”
