Ireland-based Fenergo has opened up a new office in Abu Dhabi as a foothold to begin offering its regulatory onboarding and client lifecycle management software solutions to the Middle Eastern market.
At an event celebrating the new opening Fenergo CEO Marc Murphy referred to a “perfect storm” in which stringent regulations have increased the time and cost of onboarding clients, leading to a poor client experience and increased cost for banks. Murphy then alluded to Fenergo’s solution, stating, “we present a unified approach to solving regulation across the world, delivering enhanced operational efficiencies and an improved client onboarding experience.”
Fenergo was founded in 2009 and for the past four years has grown 100% YOY on average. Last year the company pulled in $96 million in funding which it has used to expand to Singapore, Japan, and now the Middle East.
At FinovateEurope 2012 the company launched Deal Manager, a solution for client onboarding and account opening that integrates policy, document and regulatory requirements. Earlier this month Fenergo won Best Compliance Product at the Sell-Side Technology Awards in New York.
The post Fenergo Moves into Middle Eastern Market appeared first on Finovate.