Bank ABC launches Fenergo’s Cloud Native solution to digitize the integration of corporate and institutional clients

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Manama, Bahrain, September 28, 2021 / PRNewswire / – Fenergo, the leading provider of digital transformation, customer journey and customer lifecycle management (CLM) solutions for financial institutions, announces Bank ABC, the leading international bank in the MENA region, has launched its integration service digital customers using Fenergo’s native cloud CLM solution. Fenergo’s CLM solution has enabled the bank to digitize and accelerate the integration of corporate and financial institution customers, boost operational efficiency and improve the overall customer experience.

Founded in 1980, Bank ABC is headquartered in Manama, Kingdom of Bahrain with a presence in 15 countries on five continents, including the Middle East, North Africa, Europe, the Americas and Asia. The Bank worked with Fenergo on a larger wholesale banking digitization initiative aimed at radically transforming the customer experience and gaining a competitive advantage through streamlined and transparent banking solutions. Fenergo provides Bank ABC with a 360-degree view of corporate clients, increasing collaboration and transparency while facilitating back-end employee workflow.

Connecting internal stakeholders and customers to third-party data and name filtering providers on a single platform, Fenergo’s first SaaS platform intelligently orchestrates end-to-end customer journeys, enabling the bank to onboard new customers faster and hassle-free. Fenergo’s coverage of KYC, AML and regulatory rules in over 100 jurisdictions ensures that the Bank is future-proof against new and evolving regulations in its 15 markets of presence. Additionally, the nature of Fenergo’s SaaS platform hosting enables Bank ABC to benefit from reduced total cost of ownership, uptime and operational agility.

Sir. Sael Al Waary, Deputy Managing Director of Bank ABC Group, said: “Our mission is to enable the business and growth aspirations of customers around the world through effortless, transparent and easily accessible banking services and solutions. Fenergo’s cloud-native CLM solution, which accelerates and automates the banking process. ‘onboarding customers, helping meet our goals and aligning banking operations with the ever-changing expectations and preferences of customers in this fast-paced and increasingly contactless world. “

Marc Murphy, CEO of Fenergo, said:

“We are delighted to provide ABC Bank with a solution that provides a single customer view of its corporate clients, thereby improving efficiency, providing regulatory certainty and enhancing the employee and customer experience. ABC Bank is an excellent example of a financial institution committed to innovating its offerings in order to offer a digital customer journey with an exceptional customer experience. “

“Bank ABC has a head start in digital transformation, both in the MENA region and globally,” said Cormac Sheedy, MENA Head, Fenergo, adding, “The drive for transformation within the bank comes from above and is a fantastic example of how the C suite can really influence and drive change. We look forward to deploying our CLM solution for Bank ABC not just within the Kingdom of Bahrain but through branches globally. “

Bank ABC’s digital customer integration service is now available through the Bank’s head office in Bahrain and DIFC and is expected to be deployed in the Bank’s global units by the first quarter of 2022.

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SOURCE Fenergo


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