back Back

Bank ABC goes live with Fenergo’s Cloud Native Solution

By Leandra Monteiro

September 28, 2021

  • Bank Abc
  • CLM solution
  • Cloud Native Solution
Share

Bank ABCFenergo, a leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions, announces that Bank ABC, one of the MENA’s leading international banks, has gone live with its digital client onboarding service leveraging Fenergo’s cloud-native CLM solution. Fenergo’s CLM solution has enabled the bank to digitalise and accelerate onboarding for corporate and financial institution clients, bolster operational efficiency, and enhance overall client experience.

Founded in 1980, Bank ABC has collaborated with Fenergo as part of a wider Wholesale Banking digitisation initiative aimed at radically transforming client experience and achieving competitive advantage through simplified, seamless banking solutions. Fenergo provides Bank ABC with a 360-degree view of corporate customers, increasing collaboration and transparency whilst easing back-end employee workflow.

Connecting internal stakeholders and clients with third party data and name screening providers on a single platform, Fenergo’s API-first SaaS platform intelligently orchestrates end-to-end client journeys, enabling the bank to onboard new clients faster and hassle-free. Fenergo’s coverage of KYC, AML, and regulatory rules in over 100 jurisdictions ensures the Bank is future proofed against new and evolving regulations in its 15 markets of presence. Furthermore, the hosting nature of Fenergo’s SaaS platform enables Bank ABC to benefit from reduced total cost of ownership, availability, and operational agility.

Mr. Sael Al Waary, Bank ABC Deputy Group Chief Executive Officer said, “Our mission is to enable the business and growth aspirations of clients across the globe through effortless, seamless and easily accessible banking services and solutions. Fenergo’s cloud-native CLM solution, which fast-tracks and automates the client onboarding process, helps fulfil our objective and align banking with evolving client expectations and preferences in this fast paced, increasingly touchless world.”

Marc Murphy, Chief Executive Officer, Fenergo said, “We are delighted to provide Bank ABC with a solution that delivers a single client view of its corporate customers, boosting efficiencies, delivering regulatory certainty, and enhancing the experience for both employees and clients. Bank ABC is a great example of a financial institution that is committed to innovating its offerings in order to deliver a digital customer journey with exceptional customer experience.”

“Bank ABC is ahead of the curve when it comes to digital transformation, both in MENA and globally,” said Cormac Sheedy, Head of MENA, Fenergo, adding, “the drive for transformation within the bank comes from the top and is a fantastic example of how the C-suite can really influence and drive change. We look forward to deploying our CLM solution for Bank ABC not just within the Kingdom of Bahrain but across branches globally.”

Bank ABC’s digital client onboarding service is now available through the Bank’s Head Office in Bahrain and DIFC branch and is scheduled to roll out across the Bank’s global units by Q1 2022.

Previous Article

September 28, 2021

Paynetics selects Thames Technology for card production in Europe

Read More
Next Article

September 28, 2021

Sharaf Exchange and Paykii partner to offer global bill payment services

Read More









IBSi Daily News Analysis

Middle East, Egypt

January 16, 2024

Bank Abc

Egypt among top remittance recipient countries in 2023: World Bank

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Finastra taps Databricks to boost AI capabilities & enhance services

Read More

Today

10x Banking secures fresh funding to fuel global expansion

Read More

January 15, 2024

Yes Bank deploys Veefin’s SmartFin supply chain finance solution

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023