LOU Accreditation Comes in Time for MiFID II Bloomberg, which made its fortune in market data, trading systems and news, is stepping into the Legal Entity Identifier (LEI) realm as an accredited Local Operating Unit (LOU) of the Global LEI System (GLEIS), officials say. The company has received “approval to issue and maintain” LEIs, and… Read More >>
Fenergo to Hire 200 People to Support Global Growth
Fenergo to Recruit Over Next 12 to 18 Months Fenergo, the Dublin, Ireland-based client lifecycle management software solutions provider, is creating 200 jobs “due to rapid global expansion, bringing its total global employee base to 500,” according to the vendor, which serves investment, corporate and private banks. The vendor will be filling positions are across… Read More >>
PIMCO to Centralize KYC Efforts
Asset manager Pacific Investment Management Company (PIMCO) is signing on to use the “Kyc.com” centralized know-your-customer (KYC) service to add to its due diligence and onboarding requirements for KYC, anti-money laundering (AML), tax, credit and legal agreements, say officials at the Newport Beach, Calif.-based firm. The kyc.com service is a joint venture between information and… Read More >>
ICBC Standard Bank to Streamline KYC Ops
London-based financial markets and commodities bank, ICBC Standard Bank, has selected Fenergo, a provider of know your customer (KYC) services, to meet global compliance requirements and to make improvements in operational efficiency, bank and officials say. In February 2015, the Industrial and Commercial Bank of China Ltd. (ICBC) acquired a controlling stake in Standard Bank’s… Read More >>
KYC Demands Cause ‘Immense’ Data Burdens for Firms
Providers are targeting the increasingly important know your customer (KYC) space in an attempt to ease the “immense” data management burden firms are reportedly experiencing in this area of financial services compliance. Solutions designed to support data management in relation to regulatory issues such as KYC anti-money laundering controls continue to attract users looking for… Read More >>
Deutsche Bank Hires from Goldman Sachs for Head of New CIB Group
Deutsche Bank Appoints Head of Corporate & Investment Banking for EMEA Deutsche Bank reports that Alasdair Warren from Goldman Sachs has been named head of corporate and investment banking (CIB) in Europe, the Middle East and Africa (EMEA), effective spring 2016. CIB itself will be created by combining the corporate finance business in corporate banking… Read More >>
Fenergo Lands $75 Million in Private Equity Funding
After showing consecutive, year-over-year growth of 100% for the past three years, know your customer (KYC) management software vendor Fenergo has secured a $75 million investment from Insight Venture Partners, a New York-based private equity and venture capital firm. The transaction is expected to close within the next few weeks, Fenergo officials say. Insight Venture… Read More >>
No Pain, No Gain for KYC, AML Deployments
Increasing regulatory complexity and the massive fines, penalties and settlements levied against several of the world’s largest banks due to Know Your Customer (KYC) and anti-money laundering (AML) violations mean financial services firms take these aspects of compliance seriously even if implementing fixes is proving to be painful. “KYC compliance is still a major pain… Read More >>
Fenergo Expands Operations to APAC
Fenergo, a Dublin, Ireland-headquartered provider of regulatory onboarding, entity data and client lifecycle management solutions for investment banks and capital market firms, has expanded into the Asia Pacific region, appointing Brett Hodge as regional head of sales and creating a local team based in Sydney, Australia. Hodge’s experience includes seven years as manager of Asia… Read More >>
Scotiabank Deploys Fenergo Onboarding as Brazilian Asset Manager to Use Eze OMS
Scotiabank Deploys Fenergo Onboarding Solution Toronto-based Scotiabank is using Fenergo’s Regulatory Onboarding solution for its global banking and markets division, officials say. The deployment is intended to help the bank 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… Read More >>
