The provider is building upon its KYC and AML efforts in financial services sectors.
Fenergo, a provider of know your customer (KYC) management services, has begun offering its client and supply chain onboarding support to energy and commodities firms that want to improve operational efficiencies, data management, and regulatory obligations, officials say.
Some of Fenergo’s clients are already “some of the largest energy and commodities firms,” officials say. “Historically focused on the financial services sector, Fenergo experienced increased demand organically from energy and commodities firms seeking solutions that have been validated by some of the world’s largest financial institutions. … Firms have a growing requirement for efficient, technology-driven onboarding and KYC compliance management.”
Fenergo’s solutions use artificial intelligence (A.I.) for KYC services, anti-money laundering (AML) transaction monitoring, and client lifecycle management (CLM), officials say.
“As the energy and commodities sectors become increasingly complex, with stricter regulations and multi-layered transactions, organizations in these industries have recognized the importance of advanced KYC and AML capabilities,” says Stella Clarke, chief strategy officer at Fenergo, in a prepared statement. “We were approached by leaders in these fields to see if our solutions could be applied to their specific challenges. And we’re proud to say yes.”
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