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In a significant stride towards digital transformation, Citi's Global Transfer Agency has adopted Fenergo's Client Lifecycle Management (CLM) platform. This decision aims to streamline investor onboarding for regulated funds across Europe.
The CLM platform equips Citi with the ability to carry out customised, policy-driven risk assessments for Anti-Money Laundering (AML) and Know Your Customer (KYC) processes. This integration promises to make investor onboarding more efficient and seamless.
Key features of this digitisation include automated data validation and real-time reporting through API connectivity, which increases operational efficiency and provides clients with up-to-date investor status. The platform also supports multi-domiciled investments across various asset classes, thanks to its integration of new-generation technology and deep regulatory expertise.
Moreover, the CLM platform offers real-time visibility into investor compliance and risk status, enabling Citi to keep pace with evolving regulatory requirements. This initiative is part of Citi's broader digital transformation strategy within its Fund Services business, which serves institutional clients like asset and investment managers managing regulated funds for institutional and retail investors.
Larissa Sototskaya, Head of Global Transfer Agency at Citi Fund Services, emphasised that the Fenergo platform helps Citi move quickly with regulatory changes while maintaining compliance. Ruth Ormsby, Managing Director for EMEA at Fenergo, highlighted the partnership's alignment with delivering a seamless investor experience and operational excellence.
It's worth noting that the Fenergo platform is already in use by the Citi Transfer Agency in the UK for a fully digital client lifecycle service. This latest development does not directly link to the launch of the digital Transfer Agency service in the UK in 2023.
Ruth Ormsby, affirming Fenergo's commitment to evolving its platform with the latest innovations, stated that Fenergo is the market leader in the industry. The adoption of Fenergo's CLM platform by Citi ensures a more engaging experience for investors while maintaining the highest standards of compliance and operational excellence.
In summary, Citi is using Fenergo's CLM platform to digitise key onboarding and due diligence workflows, improving efficiency, compliance, and client experience in Europe’s fund transfer agency services.
[Image Credit: Edited by our platform Switzerland, based on an image by Declan Sun via Unsplash.]
References:
- Citi's Global Transfer Agency Adopts Fenergo's CLM Platform
- Citi Digitises Onboarding and Due Diligence with Fenergo's CLM
- Citi's Digital Transfer Agency Service in the UK
- Fenergo's CLM Platform Supports Regulatory Compliance
Citi's adoption of Fenergo's CLM platform signifies a fusion of finance and technology, as the platform not only supports multi-domiciled investments across various asset classes but also offers real-time visibility into investor compliance and risk status.
This partnership between Citi and Fenergo is a significant step towards delivering a seamless investor experience, maintaining operational excellence, and ensuring the highest standards of compliance in Europe’s fund transfer agency services.
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