DUBLIN, January 12, 2016 /PRNewswire/ --
Fenergo, the leading provider of Client Lifecycle Management software solutions for investment, corporate and private banks, has today announced a strategic relationship with Markit and kyc.com, a joint venture powered by Markit and Genpact.
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The relationship brings together kyc.com and Markit Counterparty Manager coupled with Fenergo's Regulatory Onboarding and Client Lifecycle Management software solutions. Fenergo also works seamlessly with Markit Enterprise Data Management (EDM) as a key component in a wider entity data management solution for common clients.
KYC and counterparty data are cleansed and validated through Markit EDM's integration layer and legal entity master to support firms to be ready to transact and meet KYC, tax, regulatory requirements and margin agreements. This information is fed into Fenergo's Client Lifecycle Management solution for workflow-enabled client onboarding and regulatory compliance. Client and counterparty data is enriched and is then pushed to downstream systems.
"Working with Fenergo across kyc.com and Markit's solution sets extends the value that we are providing to our common customer base," said Jon May, CEO of kyc.com and managing director at Markit. "By integrating data from Markit EDM across our other solution sets and leveraging Fenergo's workflow capabilities, we are providing validated information for organisations to be ready to transact."
According to Marc Murphy, CEO of Fenergo, "We are delighted to announce our working relationship with Markit and kyc.com to create a new way of enhancing the client lifecycle management process for financial institutions. Client Lifecycle Management is highly dependent on good quality, consistent and normalised client and counterparty data. However, most financial institutions are consuming this data manually at present. Through this relationship, we are automating this process with the provision of quality data and Fenergo's workflow and regulatory rules engine technologies to deliver a highly optimised Client Lifecycle Management process that will help financial institutions significantly improve regulatory and onboarding efficiencies and reduce operational costs."
About Fenergo (http://www.fenergo.com):
Fenergo is a leading provider of Client Lifecycle Management software solutions for investment, corporate and private banks. Its solutions help institutions to efficiently manage the end-to-end regulatory onboarding and entity data management processes. Its rules-driven solution ensures compliance with multiple regulatory frameworks and supports the collection, centralisation and sharing of client and counterparty data and documentation across the institution. Fenergo's solutions can onboard clients faster, improve time to revenue and overall client experience.
About kyc.om
Markit and Genpact have proven track records in helping customers in the field of KYC data management. Together the firms offer a robust set of compliance, tax, data validation and reference data services that are relied upon by over 1,500 buyside firms, 7,000 corporations and 80 banks. For more information, please see http://www.kyc.com.
About Markit
Markit is a leading global provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 4,000 people in 11 countries. Markit shares are listed on Nasdaq under the symbol MRKT. For more information, please see http://www.markit.com.
About Genpact
Genpact (NYSE: G) stands for "generating business impact." We architect the Lean Digital[SM] enterprise through a unique approach based on our patented Smart Enterprise Processes (SEP[SM]) framework that reimagines our clients' middle and back offices to generate growth, cost efficiency, and business agility. Our hundreds of long-term clients include more than one-fourth of the Fortune Global 500. We have grown to over 70,000 people in 25 countries, with key management and a corporate office in New York City. We believe we are able to generate impact quickly and power Intelligent Operations[SM] for our clients because of our business domain expertise and experience running complex operations, driving our unbiased focus on what works and making technology-enabled transformation sustainable. Behind our passion for technology, process, and operational excellence is the heritage of a former General Electric division that has served GE businesses since 1998. For additional information, visit http://www.genpact.com. Follow Genpact on Twitter, Facebook, LinkedIn, and YouTube.
Fiona McLoughlin, VP Marketing, Fenergo
E: fiona.mcloughlin@fenergo.com
T: +353-1-901-3600
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