Fenergo, the Ireland-based provider of digital solutions for KYC, client lifecycle management (CLM) and transaction monitoring, has launched AI Powered CLM, a new set of AI capabilities which aim to boost operational efficiencies, accelerate onboarding and improve end-user experiences while reducing costs associated with KYC and AML compliance. The introduction of AI to Fenergo’s CLM, powered by Amazon Bedrock, will enable firms to more accurately identify and mitigate financial crime risk and meet regulatory obligations for KYC, AML and sanctions measures.
Fenergo’s new offering encompasses three separate AI functionalities – scheduled for release between now and Q4 – which include Intelligent Document Processing, Advanced Reporting and AI Assistant. These new capabilities will automate labour-intensive and time-consuming tasks related to client onboarding, due diligence and regulatory reporting.