Citi’s Global Transfer Agency has adopted Fenergo’s Client Lifecycle Management (CLM) platform to digitise investor onboarding and due diligence processes for regulated funds in Europe.
The platform supports customised, policy-based risk assessments for Anti-Money Laundering (AML) and Know Your Customer (KYC) checks, helping Citi streamline investor onboarding.
Clients also gain access to automated data validation and real-time reporting through API connectivity.
Citi’s Global Transfer Agency forms part of its Fund Services business, which provides services to institutional clients such as asset managers and investment managers operating regulated funds for both institutional and retail investors.
“The Fenergo platform brings together new generation technology with in-depth working knowledge of the regulatory environment that is crucial to supporting a breadth of multi-domiciled investments across diverse asset classes,”
said Larissa Sototskaya, Head of Global Transfer Agency at Citi Fund Services.
“As the regulatory environment evolves, the adoption of Fenergo ensures that we move at pace with the industry while providing a real-time view of investor statuses.”
Ruth Ormsby, Managing Director for EMEA at Fenergo, said:
“Fenergo is firmly established as the market leader in this area and we are committed to evolving our platform with the latest innovations. This aligns with our goal to empower financial institutions like Citi to create a more engaging experience for investors, while maintaining the highest standards of compliance and operational excellence.”
This latest development forms part of Citi Transfer Agency’s broader digital transformation efforts and follows the launch of its digital Transfer Agency service in the UK in 2023, where it already provides a fully digital client lifecycle service for funds.
Featured image credit: Edited by Fintech News Switzerland, based on image by Declan Sun via Unsplash
