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Fenergo has recently argued that the economic downturn in the US market underlines a strong business case for CLM technology.
The digital transformation of KYC activity has offered asset managers create more efficient onboarding processes in a market with increasing demands to manage risk.
The financial sector has for long been bogged down by manual processes in adhering to regulatory standards. The spotlight now shifts towards embracing technology, particularly in Know Your Customer (KYC) operations. Fenergo has outlined the opportunities for KYC compliance automation.
SirionLabs, which offers an AI-powered contract lifecycle management (CLM) platform, has closed its Series D funding round on $110m.
Automated machine identity management platform AppViewX has secured $20m in its Series B round.
A fifth of financial institutions claim outdated technology infrastructures are holding them back from investing in new solutions such as AI, a study from Fenergo claims.