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PwC Forms Alliance With Fenergo to Streamline KYC Compliance for Financial Institutions

Professional services firm PwC has joined up with leading provider of digital Client Lifecycle Management (CLM) solutions Fenergo to “do KYC differently”.

Collaborating with Fenergo means that PwC will now provide client onboarding and KYC review and refresh operations as managed services, complementing PwC’s existing AML and KYC remediation offerings.  

PwC’s financial institution clients can now access an innovative and efficient managed solution to address their ongoing KYC challenges.

The alliance combines PwC’s regulatory expertise and operational capability with Fenergo’s cloud-based, award-winning, CLM solution, increasing PwC’s footprint in the area of financial crime operations.

Designed in response to client demands to shorten onboarding times and amalgamate different KYC processes under a single cloud-based solution, the resulting services will improve the full customer experience while providing regulatory certainty for financial institutions.

Coming as part of PwC’s ongoing focus on digital transformation and developing new models of delivery, the alliance marks a further significant expansion of the financial crime services provided by PwC.

Ian McConnell, PwC Partner, said:

“PwC is always looking at ways to disrupt ourselves and our markets. Acquiring cutting-edge technologies that help our clients is one of the ways we’re doing that.

Working with Fenergo will enable us to do KYC differently – complementing our regulatory knowledge, delivery capability and experience with cloud-based CLM technology will increase the number of services that we can offer to financial institutions.

For PwC and Fenergo, the future is one where financial services use the best people and digitally-enabled solutions to deliver the best customer journey. This collaboration makes that future, today.”

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