Fenergo announced that First Abu Dhabi Bank (FAB) has integrated Fenergo’s software-as-a-solution CLM solution to speed up client onboarding and enhance its anti-money laundering (AML) compliance processes.

FAB could start onboarding new small to medium-sized business (SMB) clients within six months of implementing Fenergo’s API and configuration-first solution. In the coming months, FAB will roll out the platform to support corporate and institutional clients.

Fenergo will enable FAB to deliver end-to-end digital client onboarding and risk assessment for sanctions, AML and KYC. This will allow FAB to straight-through-process its low-risk customers, enhancing onboarding efficiency and minimising costs.

By deploying Fenergo’s CLM solution, FAB will gain a holistic view across every stage of the client’s life cycle, from initial client onboarding, regulatory compliance and maintenance and off-boarding. This will help the bank reduce silos, increase transparency and ensure greater cross functionality between technology, data and operations teams.

Fenergo’s SaaS CLM is powered by Amazon Web Services (AWS).

Featured image credit: edited from freepik