Fenergo acquires anti-laundering specialist Sentinels

Irish RegTech unicorn Fenergo has acquired Sentinels, an anti-money laundering (AML) transaction monitoring specialist using artificial intelligence.

Sentinels’ technology is purpose-designed to detect and eliminate criminal transactions “fast and at scale”, it says.

Fenergo is a provider of know your customer (KYC) and client lifecycle management (CLM) solutions.

The acquisition, for an undisclosed amount, aims to strengthen Fenergo’s ability to deliver SaaS-based CLM with smart transaction monitoring to financial institutions, the company said.

Fenergo’s clients will now be able to combine KYC profiles with client behavioural data for tighter and continuous monitoring.

The acquisition will also enable Sentinels to “scale rapidly, increase its global footprint and bolster its ability to serve larger financial institutions”, added Fenergo.

“By adding transaction compliance to our existing client onboarding and product origination solutions, financial institutions can monitor and review client behaviour and identify risks on an ongoing basis,” said Marc Murphy, chief executive of Fenergo. “This blended approach to financial crime makes us perfectly placed to address the rising compliance challenges faced by financial firms more efficiently.”

    Share Story:

Recent Stories


New Business Frontiers
FStech’s Mark Evans discusses the future of financial services with Liu Jianning of Huawei, covering the limitations that current thinking can impose, how financial institutions can embrace technology to be both agile and resilient, and making space for the organisation to focus on the job of creating innovative business models and on delivering business value for their customers.

The Future of Intelligent Finance
FStech Group Editor Mark Evans sits down with Jason Cao, President of Global Financial Services Business Unit, Enterprise BG at Huawei ahead of its Intelligent Finance Summit which was held on 3rd and 4th of June in Shanghai. This Q&A delves into key trends in digital transformation of the financial services industry as well as a look at how data, robotic infrastructure, intelligent storage and innovative technologies are shaping the future for FSIs.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.