Citi selects Fenergo's transfer agency platform
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With Fenergo's platform, Citi's Global Transfer Agency business enables customized policy-driven risk assessments, automated data validations and real-time reporting through API connectivity.
Citi's Global Transfer Agency unit is part of the bank's Fund Services business. Fund Services, which is in turn part of Citi Investor Services, serves institutional clients including asset managers and investment managers who create and run regulated funds for institutional or retail investors.
With this move, Citi Transfer Agency advances on its digital transformation agenda, following from the launch of the bank's digital Transfer Agency service in the UK in 2023.
'The Fenergo platform brings together new generation technology with in-depth working knowledge of the regulatory environment that is crucial to supporting a breadth of multi-domiciled investments across diverse asset classes,' said Larissa Sototskaya, Head of Global Transfer Agency at Citi Fund Services. 'As the regulatory environment evolves, the adoption of Fenergo ensures that we move at pace with the industry while providing a real-time view of investor statuses.'
Ruth Ormsby, Managing Director, EMEA, Fenergo: "We are delighted to support Citi's Global Transfer Agency business in Europe with our Client Lifecycle Management platform. Fenergo is firmly established as the market leader in this area and we are committed to evolving our platform with the latest innovations. This aligns with our goal to empower financial institutions like Citi to create a more engaging experience for investors, while maintaining the highest standards of compliance and operational excellence.'
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