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Next-Generation Regulatory Compliance Platform for Financial Institutions

cshark.com

Financial services

Banking

Information technology

Regulatory Compliance Challenges in Financial Institutions

Financial institutions face significant fines due to noncompliance and data breaches, driven by outdated systems requiring modernization. Need for advanced solutions in Anti-Money Laundering (AML), Know Your Customer (KYC), and regulatory onboarding to meet evolving compliance demands while reducing operational costs.

About the Client

World-leading provider of Client Lifecycle Management (CLM) and regulatory compliance solutions for financial institutions, serving 26 of the top 50 global banks.

Strategic Goals for Enhanced Compliance Solutions

Enhance CLM and compliance solutions with cutting-edge technologies
Expand product capabilities into new verticals (e.g., ESG compliance)
Improve client onboarding efficiency by 30%
Reduce audit costs by 34% through automation
Maintain leadership in RegTech innovation

Core System Functionalities

Automated client onboarding workflows
Real-time risk assessment and monitoring
Integrated compliance reporting tools
Customizable KYC/AML remediation modules
Third-party data integration for due diligence

Technologies for Modernization

Artificial Intelligence (AI) for risk scoring

Cloud platforms (AWS/Azure)

Blockchain for audit trails

Microservices architecture

System Integration Requirements

Core banking systems (e.g., Temenos, Oracle FLEXCUBE)
Third-party compliance databases (e.g., Refinitiv, LexisNexis)
Identity verification providers (e.g., Jumio, Onfido)
Enterprise Risk Management (ERM) platforms

Non-Functional Requirements

High scalability to support 10,000+ concurrent users
End-to-end encryption and GDPR compliance
99.9% system uptime with disaster recovery
Sub-second response times for risk assessment queries

Anticipated Business Impact

Anticipated 30% ROI on technology investments, 82% reduction in client onboarding time, and 34% lower audit costs, enabling Fenergo to onboard 50+ new clients annually while solidifying market leadership in RegTech.