Opus and Fenergo Team Up To Minimise Risks of KYC and AML

Blog entry

Opus and Fenergo have teamed up to provide an end-to-end Know Your Customer (KYC) system for running anti-money laundering (AML) checks on new clients.

Under the partnership, Opus will feed external data – including sanctions lists, business news, market research, and economic and shareholder information – into Fenergo’s risk scoring and client lifecycle management (CLM) software. The aim is to provide investment, corporate and private banks with an integrated and streamlined client onboarding solution that builds in all the risk-relevant data needed to satisfy regulatory demands of KYC and AML.

Opus and Fenergo say the system will give banks an automated, end-to-end workflow process to help them continuously monitor customers, from onboarding through to offboarding, while providing an integrated view of all data related to regulatory risk.

Marc Murphy, CEO and founder of Fenergo, says: “Our partnership will enable clients to understand complex data sources and develop clearer, quicker views into ID verification, beneficial ownership and customer due diligence relevant content, allowing them to minimise KYC risks.”