Generali Investments Holding has chosen Fenergo’s client lifecycle management (CLM) tool to improve its anti-money laundering (AML) compliance processes. This decision comes in response to an increase in money laundering incidents following Russia’s invasion of Ukraine.
Fenergo’s CLM solution will help Generali Investments Holding enhance its AML provisions and ensure compliance with European regulations, while also improving cost optimization and resource efficiency for investors.
In recent years, money laundering techniques have become increasingly sophisticated, prompting Generali Investments Holding to focus on strengthening its AML processes. By selecting Fenergo’s CLM tool, the company aims to enhance its ability to monitor for unexpected risks and events, detect suspicious activity in real-time, and reduce false positives.
Fenergo’s end-to-end CLM solution includes onboarding, know-your-customer (KYC), and transaction monitoring capabilities. Generali Investments Holding will leverage data from these operations to continuously monitor for suspicious activity and flag any potential risks. This real-time monitoring will allow the company to take immediate action when necessary.
In addition to improving AML compliance, Fenergo’s solutions will also enhance cost optimization and resource efficiency for investors. The company will manage the operational steps required to onboard investors, creating a mandate for them in the process. Users will be able to interact with their data in real-time through the Generali Investments ecosystem, providing a seamless and efficient experience.
Katia Mangiaracina, the Chief Operating Officer at Generali Investments Holding, highlights the importance of robust AML processes in the face of increasingly sophisticated money laundering techniques. She expresses confidence in Fenergo’s market-leading KYC and transaction monitoring offering, citing Generali Real Estate’s successful integration of the technology as evidence.
Stella Clarke, Chief Strategy Officer at Fenergo, emphasizes the benefits of the company’s API-first CLM platform. She believes that it will enable Generali Investments Holding to achieve onboarding efficiencies and smarter, real-time risk monitoring, particularly in the context of European AML regulation. The partnership between Fenergo and Generali Investments Holding aligns with Fenergo’s mission to make the financial services industry safer by transforming the way clients comprehend and manage their business.
By adopting Fenergo’s CLM tool, Generali Investments Holding is taking proactive steps to enhance its AML compliance processes and protect against money laundering risks. This decision not only ensures compliance with European regulations but also improves cost optimization and resource efficiency for investors. The integration of Fenergo’s technology will enable Generali Investments Holding to continually monitor for suspicious activity in real-time and reduce false positives, ultimately making the financial services industry safer.