Fenergo and IBM have signed an original equipment manufacturing (OEM) agreement that will allow the companies to collaborate on solutions that can help clients address a multitude of financial risks.
The agreement enables them to create solutions that combine Fenergo’s client lifecycle management (CLM) offering with IBM’s RegTech portfolio of Anti-Money Laundering (AML) and Know Your Client (KYC) solutions; all built with Watson.
IBM stated that it plans to build on this work to assist clients in integrating artificial intelligence-driven insights from its Financial Crimes Insights series of solutions into Fenergo’s CLM solution.
“At IBM, we understand the challenges that banks and financial institutions face in cost-effectively balancing customer experience with detection and prevention of financial crimes,” said David Marmer, vice president of offering management and RegTech at IBM. “Our agreement with Fenergo will allow us to expand our offering with a more comprehensive CLM solution, providing insertion points for our AI-based anti-financial crimes and regulatory compliance management technologies throughout the client lifecycle.”
Julian Clarke, head of partners and alliances at Fenergo, said: “Through this relationship, Fenergo will be available as part of IBM’s offering, allowing access to new and existing clients within IBM’s ecosystem which in turn can help reduce procurement burdens associated with enterprise software."
The aim is that customers availing themselves of Fenergo’s platform via IBM will have access to its additional support services including, but not limited to, global IT support, predictive analytics, system developers, augmented reality, multi-vendor processing and a single point of contact interface.
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.
The Rise of Instant Payments
Instant payments are creating new business opportunities for banks by providing more touchpoints than ever. With these evolutions underway, Featurespace brought leading industry experts together to discuss how they are protecting customers from fraudsters in real time, utilizing innovative and disruptive solutions to reduce fraud. Click here to find out more.
Offloading Cyber Risk in the Cloud
As cyber attacks and data breaches are in the news on an increasingly regular basis - with regulatory penalties and customer trust on the line for financial services firms - it has never been more crucial to be compliant in the cloud.
This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.
This video, with Akamai’s EMEA director of security technology and strategy Richard Meeus, will help explain what your company can be doing to make sure it’s not embroiled in the next big fine or front-page scandal.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories