IBM and Fenergo sign manufacturing agreement

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.

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