News Feed Item

Fenergo Regulatory Onboarding Solution Implemented by Scotiabank

DUBLIN, February 18, 2014 /PRNewswire/ --

Fenergo today announced that the firm's Regulatory Onboarding solution has been launched by Scotiabank, Canada's most international bank.

"I am proud to announce Scotiabank as our latest implemented client," said Marc Murphy, Chief Executive Officer (CEO), of Fenergo. "Like Scotiabank, many financial institutions are facing a torrent of regulations which have a significant impact on client and counterparty data and the ability to onboard clients in a timely manner.

"With Fenergo's solutions, financial institutions can benefit from clean, golden source data, a rules-driven compliance process that spans multiple regulations and a world-class onboarding workflow process that will enable them to onboard new clients and products quickly and efficiently," added Mr Murphy.

Fenergo's Regulatory Onboarding solution was successfully implemented by Scotiabank's Global Banking and Markets division to help automate, streamline and standardize regulatory onboarding processes, data and documentation across six business segments. The implementation also supports Scotiabank's centralized know-your-customer and anti-money-laundering processes, establishing a common process for regulatory onboarding.

"We chose Fenergo to support regulatory onboarding across our Global Banking and Markets division," said Nicola Ray Smith, Managing Director, Global Capital Markets, Scotiabank. "We wanted a solution that would support an efficient onboarding experience for all of our customers."

The contract with Scotiabank builds on Fenergo's expanding client base, which includes leading financial services organizations such as Lloyds Banking Group, Rabobank and RBS.

Fenergo's solution also supports regulatory frameworks such as the Foreign Account Tax Compliance Act (FATCA), Dodd-Frank and the European Market Infrastructure Regulation (EMIR), as well as similar G20 driven OTC regulations in Canada and Asia. First implemented in Canada, the U.S. and the U.K., the solution is easily expandable for additional jurisdictions.    

About Fenergo (http://www.fenergo.com):

Fenergo is an award-winning provider of enterprise Client Lifecycle Management platform solutions designed to help financial institutions to manage the end-to-end regulatory onboarding process - from onboarding, to management of client and counterparty data and regulatory compliance with existing and emerging regulations. These solutions simplify and rationalize often complex operational interactions of client lifecycle management by orchestrating onboarding, regulatory compliance and KYC activities across all touch-points within the bank. In 2013, Fenergo's Client Lifecycle Management platform was named winner of the Technology Innovation of the Year Award by the ISA and, in 2012, it won Best Customer Onboarding Solution by the Compliance Register.

For more information on Fenergo's Regulatory Onboarding solutions, check out its new animated video illustrating the Regulatory Onboarding process - http://www.youtube.com/watch?v=HWMLXXJU-RY. For more information, please visit http://www.fenergo.com or email [email protected].

For more information, please contact:
Fiona McLoughlin, Head of Marketing, Fenergo
T: +353-1-856-5915 
E: [email protected]

SOURCE Fenergo

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Embotics, the cloud automation company, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Embotics is the cloud automation company for IT organizations and service providers that need to improve provisioning or enable self-service capabilities. With a relentless focus on delivering a premier user experience and unmatched customer support, Embotics is the fas...
Intelligent machines are here. Robots, self-driving cars, drones, bots and many IoT devices are becoming smarter with Machine Learning. In her session at @ThingsExpo, Sudha Jamthe, CEO of IoTDisruptions.com, will discuss the next wave of business disruption at the junction of IoT and AI, impacting many industries and set to change our lives, work and world as we know it.
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
Smart Cities are here to stay, but for their promise to be delivered, the data they produce must not be put in new siloes. In his session at @ThingsExpo, Mathias Herberts, Co-founder and CTO of Cityzen Data, will deep dive into best practices that will ensure a successful smart city journey.
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.
In his session at 19th Cloud Expo, Nick Son, Vice President of Cyber Risk & Public Sector at Coalfire, will discuss the latest information on the FedRAMP Program. Topics will cover: FedRAMP Readiness Assessment Report (RAR). This new process is designed to streamline and accelerate the FedRAMP process from the traditional timeline by initially focusing on technical capability instead of documentation preparedness. FedRAMP for High-impact level systems. Early in 2016 FedRAMP officially publishe...
SYS-CON Events announced today that Impiger Technologies will exhibit in Booth #109 at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Impiger Technologies is a world-class, enterprise software product engineering company specializing in Mobile Application Development, Cloud Applications, Microsoft Technology Solutions, Web Technology and Telecom Services. Impiger Technologies helps enterprises improve busi...
Qosmos, the market leader for IP traffic classification and network intelligence technology, has announced that it will launch the Launch L7 Viewer at CloudExpo | @ThingsExpo Silicon Valley, being held November 1 – 3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The L7 Viewer is a traffic analysis tool that provides complete visibility of all network traffic that crosses a virtualized infrastructure, up to Layer 7. It facilitates and accelerates common IT tasks such as VM migra...
In the 21st century, security on the Internet has become one of the most important issues. We hear more and more about cyber-attacks on the websites of large corporations, banks and even small businesses. When online we’re concerned not only for our own safety but also our privacy. We have to know that hackers usually start their preparation by investigating the private information of admins – the habits, interests, visited websites and so on. On the other hand, our own security is in danger bec...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
As companies adopt the cloud-to-streamline workflow, deployment hasn’t been very seamless because of IT concerns surrounding security risks. The cloud offers many benefits, but protecting and securing information can be tricky across multiple cloud providers and remains IT’s overall responsibility. In his session at 19th Cloud Expo, Simon Bain, CEO of SearchYourCloud, will address security compliance issues associated with cloud applications and how document-level encryption is critical for sup...
SYS-CON Events announced today that Cemware will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Use MATLAB functions by just visiting website mathfreeon.com. MATLAB compatible, freely usable, online platform services. As of October 2016, 80,000 users from 180 countries are enjoying our platform service.
SYS-CON Events announced today that MathFreeOn will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MathFreeOn is Software as a Service (SaaS) used in Engineering and Math education. Write scripts and solve math problems online. MathFreeOn provides online courses for beginners or amateurs who have difficulties in writing scripts. In accordance with various mathematical topics, there are more tha...
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...