Fenergo partners with Generali Investments to counteract advanced money laundering techniques

Fenergo partners with Generali Investments to counteract advanced money laundering techniques

Generali Investments Holding, a powerhouse in the world of asset management with over €504bn assets under management (AUM), has chosen to partner with Fenergo, the industry leader in digital solutions for Know Your Customer (KYC), Transaction Monitoring, and Client Lifecycle Management (CLM).

In a proactive response to the surge in complex money laundering techniques and subsequent sanctions after Russia’s invasion of Ukraine, Generali Investments Holding is integrating Fenergo’s software-as-a-service (SaaS) CLM to bolster its anti-money laundering (AML) compliance measures.

Generali Investments Holding is a central figure in Generali Investments’ vast ecosystem of asset management firms, overseeing a whopping €504bn in AUM. With its roots in Italy, the company boasts specialist investment capabilities in fixed income, equities, and real estate, serving over 20 countries including France, Germany, and the UK.

On the other side of this partnership, Fenergo stands as a beacon in providing CLM solutions, aiding financial institutions, asset management, and fintech firms in digitally enhancing their client management processes from the point of onboarding to eventual offboarding.

This collaboration is not the first of its kind between the two giants. Generali Real Estate, a subsidiary of the Generali Group, had previously chosen Fenergo’s CLM solution in 2022 to streamline due diligence for its real estate counterparts.

As a part of this renewed partnership, Generali Investments Holding will exploit KYC and transactional data to pinpoint suspicious activities in real-time, reduce time on false alerts, and perpetually monitor unforeseen risks. This union will not only ensure Generali’s compliance with the ever-changing European AML regulations but will also optimise costs and enhance client interactions with their data.

With a prime focus on ensuring a smooth client journey from the initial KYC, onboarding, to regulatory compliance, and continuous monitoring, Fenergo’s out-of-the-box rules engine stands out, ensuring clients stay updated with changing regulations across over 120 jurisdictions. The company’s global footprint is vast, with headquarters in Dublin and branches across North America, the UK, and Asia-Pacific, to name a few.

Generali Investments Holding Chief Operating Officer, Katia Mangiaracina, 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.”

Fenergo Chief Strategy Officer, Stella Clarke, added: “Fenergo’s 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.”

Keep up with all the latest FinTech news here

Copyright © 2023 FinTech Global

Enjoyed the story? 

Subscribe to our weekly RegTech newsletter and get the latest industry news & research

Copyright © 2018 RegTech Analyst


The following investor(s) were tagged in this article.