Fenergo, the provider of digital Client Lifecycle Management solutions (CLM) for financial institutions, has announced the appointment of James Follette as the Global Head of Commercial and Retail Banking.
Formerly responsible for client onboarding and know your customer (KYC) transformation at Citi, James will drive growth and deliver on Fenergo’s strategic objective to provide innovative CLM solutions that digitally transform client journeys within retail and commercial banks.
Fenergo has extended its capabilities into commercial and retail banking in response to client demand for its CLM solutions for onboarding, account opening, maintenance and offboarding, across all business lines.
Banks seeking to improve customer experience and the end-to-end client journey will achieve agile and frictionless onboarding enabled by Fenergo’s industry-leading API-first CLM solution, cloud-based rules engine and verification tools. Customers will benefit from Fenergo’s partnerships with data providers and systems integrators as well as its expertise in KYC and anti-money laundering (AML). Coupled with Fenergo’s community-based approach to product development, financial institutions will achieve compliance-by-design and be future-proofed against evolving regulation.
Marc Murphy, CEO, Fenergo, said: “Fenergo’s heritage as a digital disruptor in the Corporate and Institutional Banking (CIB) space has allowed us to organically extend our capabilities into new segments. Our platform is already in use by several retail and commercial clients seeking to digitally transform all client orchestration events across all lines of business. As we engage with our retail and commercial customers, we will continue to invest in our platform to improve the lifetime value of the end client through enhanced customer experiences, ensuring that banks remain compliant across all regulations.”
James Follette, Global Head of Commercial and Retail Banking, Fenergo, said: “Banks in commercial and retail banking are experiencing unprecedented change as challenger banks crowd the market and regulation increases in complexity. The pressure is on to optimise the customer experience and ensure client and product onboarding is frictionless. Customers expect to open an account in minutes not weeks. Fenergo’s out-of-the-box CLM solution is perfectly placed to enable banks to onboard new customers faster, improve customer experience and lead the charge in the fight against financial crime.”
James previously held roles at Citi and IBM where he was responsible for implementing client onboarding transformation initiatives and overcoming regulatory challenges. James will report directly into Fenergo’s CEO Marc Murphy.