DNB Bank ASA selects Fenergo to streamline group-wide AML operations

By Leandra Monteiro

Fenergo, a provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions, announces that DNB Bank ASA will deploy its SaaS-based CLM solution to consolidate know your customer (KYC) and anti-money laundering (AML) operations across all business lines including corporate and institutional banking, personal market and private banking.

DNB Bank ASA is Norway’s largest financial services group with 50% market share and total combined assets of more than NOK 1.9 trillion. DNB has embarked on a multi-year project that will deploy Fenergo’s SaaS CLM platform to replace manual systems and processes for KYC and AML and digitalise the entire client lifecycle journey from onboarding to offboarding. The solution will enable relationship managers and advisors in Norway and across the Nordics to achieve a single customer view and deliver a fully integrated omni-channel user experience.

Kevin O’Neill, Head of EMEA, Fenergo added, “We are delighted to partner with DNB Bank ASA and are focused on delivering the right outcomes together. Banks globally are under significant pressure to deliver exceptional customer experiences while satisfying evolving regulatory requirements. By deploying Fenergo’s SaaS CLM platform, DNB Bank ASA can streamline the entire end-to-end client lifecycle process, drive efficiencies, and reduce the costs associated with evolving regulation. In addition, this partnership further strengthens our community of clients within the Nordics region and enables Fenergo to deliver standardised solutions to market.”