Fenergo Enhances FinCrime OS with Native ID&V, Delivering Accelerated Compliance in One Platform

Fenergo, the leading provider of AI-powered solutions for know your customer (KYC), anti-money laundering (AML) and client lifecycle management (CLM), today announced the enhancement of its FinCrime Operating System (OS) platform with the introduction of its native Identity & Verification (ID&V) offering. This development further strengthens FinCrime OS as the most comprehensive operating system for financial crime and compliance, empowering financial institutions to manage client lifecycle tasks seamlessly within a single platform.

With native ID&V embedded into FinCrime OS, financial institutions can now consolidate ID&V for onboarding, KYC, transaction monitoring and periodic reviews across subsidiaries and jurisdictions within one platform. This unified approach simplifies complex CLM ecosystems, eliminates duplication and manual effort and delivers a single KYC spine with consolidated data across the entire enterprise.

Key benefits of the native ID&V include:

• Simplified Ecosystem: Consolidation of client lifecycle management systems into one platform
• Centralised KYC: Single client view and reusable data across the enterprise
• Reduced Fraud Risk: Biometrics, full ID&V auditability bolsters fraud prevention
• Transformed Client Experience: Faster, smoother, secure onboarding through self-service portal and real-time ID validation
• Operational Efficiency: Automation of manual routine ID checks, freeing compliance teams for more complex or exception cases.
• Economy of Scale: A platform approach that leverages investments across multiple business lines, resulting in less suppliers and lower costs.

“The launch of native ID&V within FinCrime OS is another milestone in our vision to enable financial institutions to perform every financial crime operation task on a single, unified platform. By embedding native AI-powered ID&V, we are not only reducing the burden of multiple siloed systems but also enabling financial institutions to achieve a single client view across the enterprise. Strategically, this translates into lower costs, reduced fraud risk and a dramatically improved client experience. Tactically, it means streamlined onboarding, reusable KYC data across the enterprise and fewer manual interventions. Together, these benefits empower financial institutions to operate with greater efficiency, scale and confidence in their compliance obligations.”

Alongside the introduction of native ID&V, Fenergo provided an update on the performance of its AI agents embedded within FinCrime OS. Early Adopter Programme (EAP) clients have reported significant gains:

• Document Agent: Achieved 99% document classification accuracy, accelerating the extraction and organization of critical client KYC data.
• Screening Agent: Automatically resolved 50% of screening hits, reducing false positive reviews and accelerating investigations.
• Autocompletion Agent: Auto-completed 79% of data tasks, streamlining onboarding and KYC workflows.