Generali Investments Holding, the holding company of Generali Investments’ ecosystem of asset management firms, with more than €504 billion in assets under management (AUM) – is deploying Fenergo’s software-as-a-service (SaaS) client lifecycle management (CLM) to enhance its anti-money laundering (AML) compliance processes.
Generali Investments Holding will implement Fenergo’s end-to-end CLM covering onboarding, know your customer (KYC) and transaction monitoring as it looks to address a rise in sophisticated money laundering techniques and related sanctions following Russia’s invasion of Ukraine.
Stella Clarke, chief strategy officer, Fenergo, said: “Fenergo’s application programming interface (API)-first CLM platform will permit Generali Investments to drive onboarding efficiencies and achieve smarter, real-time risk monitoring at this crucial time for European AML regulation. We are extremely proud to partner with Generali, allowing us to deliver on our mission to make the financial services industry safer by transforming the way in which our clients comprehend and manage their business.”
Katia Mangiaracina, chief operating officer, Generali Investments Holding, said: “With money laundering techniques growing increasingly sophisticated over recent years, coinciding with an uptick in sanctions following Russia’s invasion of Ukraine, ensuring our AML processes are as robust as possible has been one of our key focuses this year. Having witnessed Generali Real Estate’s successful integration of Fenergo’s technology, we were confident its market-leading KYC and Transaction Monitoring offering would be the best fit for our business.”
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