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FMO Selects Fenergo to Streamline KYC and Onboarding for Multifaceted Portfolios in Emerging Markets
Fenergo, the leading provider of AI-powered client lifecycle management (CLM), know your customer (KYC) and anti-money laundering (AML) solutions, announced that FMO – The Dutch entrepreneurial development bank, has selected its CLM solution and Document Agent to advance onboarding and KYC operations. As Fenergo’s first development banking client, FMO will leverage the platform to manage a multifaceted portfolio in emerging markets under regulatory supervision while enhancing operational transparency and efficiency.
Through this partnership, FMO aims to accelerate KYC and onboarding times and enhance client interactions. The solution will empower FMO to reallocate resources to higher-value work, enhance the client experience and provide data-driven insights.
“Fenergo stood out for its proven ability to handle comprehensive customer due diligence in emerging markets, amid demanding regulatory requirements,” said Friso Schellekens, Director KYC at FMO. “We require a partner that aligns with our governance framework and Fenergo’s market-leading CLM platform and approach to SaaS and AI governance delivers this while providing our teams with the clarity and efficiency needed to perform effective KYC processes.”
Ruth Ormsby, Managing Director, EMEA, Fenergo, commented: “We are proud to welcome FMO as our first development banking client. Their focus on maintaining rigorous compliance controls and transparency is completely aligned with Fenergo’s values. Our mission is to evolve the Fenergo product from a passive digital tool into an active, intelligent system that empowers users to focus on their most critical business tasks. By partnering with FMO, we are confident in our ability to deliver a robust solution that supports FMO’s strategic goals.”
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