The platform will help Citi digitize key transfer agency services for funds in Europe.
Citi’s Global Transfer Agency business unit has deployed Fenergo’s Client Lifecycle Management (CLM) platform “to digitize investor onboarding and due diligence services for regulated funds in Europe,” officials say.
Citi can now use “customized policy-driven risk assessment for anti-money laundering (AML) and know your customer (KYC) checks for clients,” officials say.
The Fenergo system also facilitates “automated data validations and real-time reporting through API connectivity.”
The Global Transfer Agency unit is part of Citi’s Fund Services business “which caters to institutional clients including asset managers and investment managers who create and run regulated funds for institutional or retail investors,” officials say. Citi’s Fund Services — delivered via a global service model — are offered for cross-border traditional and full-service fund support for the spectrum of fund types and structures, across operational, administrative, and regulatory activities.
“The adoption of Fenergo for regulated funds in Europe is part of Citi Transfer Agency’s ongoing digital transformation agenda and follows from the launch of the bank’s award-winning digital Transfer Agency service in the United Kingdom in 2023,” officials say. “The bank already offers a fully digital client lifecycle service for funds in the U.K. market.”
The Fenergo CLM helps corporate and institutional banks to achieve compliance via “a wide range of regulatory frameworks across 120+ jurisdictions,” officials say. “CLM serves as an exhaustive architecture that evaluates each stage of customer engagement with a financial institution. It extends beyond traditional CRM systems by offering meticulous analytics that detail each facet of the client’s journey through the lifecycle.”
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