Fenergo launches FinCrime operating system with agentic AI layer
Fenergo has today launched its FinCrime Operating System (OS), an evolution of its existing solutions to become the single unifying platform across the Client Lifecycle.
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It leverages trusted Agentic AI to empower financial institutions to overcome spiraling operational costs and rising compliance demands enhanced by geopolitical tension and regulatory flux.
Fenergo FinCrime OS, powered by an Agentic AI layer, unifies all client lifecycle events -onboarding, KYC, screening, identity and verification (ID&V) and transaction monitoring - on a single platform. The initial six autonomous AI agents execute tasks quickly, accurately, and with full auditability. These agents enable firms to automate tasks, gain real-time insights, and maintain full control and governance.
Fenergo's FinCrime OS enhances client experiences with a seamless, digital-first approach to onboarding and KYC reviews, and smooth transaction monitoring alert workflows, while reducing operational costs by automating tasks, saving up to 93%. The FinCrime OS' Command Center strengthens risk mitigation through AI-driven insights, enabling better policy operationalization and minimizing regulatory risks. Built in line with global AI acts and regulatory guidelines, Fenergo's Agentic AI ensures sound governance with transparent actions, fostering trust and control.
Unprecedented periodic review efficiencies
Fenergo's initial six AI agents streamline periodic KYC reviews by autonomously handling tasks like data reconciliation, document classification, and risk screening. This reduces manual effort and backlog, enabling proactive, intelligent workflows and allowing compliance teams to focus on high-risk exceptions. Reducing periodic review timeframes by up to *45%, FinCrime OS not only ensures regulatory adherence but also drives operational efficiency and improved client experiences.*
*Estimation of time saved on a straight-through processed (STP) periodic review for a low-risk client.
The Six AI Agents available today include:
1. Data Sourcing Agent - Sources data from one or more third-party data provider, compares against entity data and auto-completes tasks
2. Screening Agent - Runs screening checks against third-party integrations, auto-resolves hits and returns results to providers
3. Document Agent - Extracts, classifies and links documents using AI to automate document-management processes
4. Significance Agent - Performs a check against data changes to determine significance to define next action
5. Autocompletion Agent - Automates the completion of tasks based on pre-defined rules, policy and configured guardrails
6. Insights Agent - Fenergo's co-pilot, allowing users to interact with all operational, policy and entity data through natural language and harness real-time insights on process efficiency, operations and risk.
Command Center bolsters governance and streamlines KYC reviews
Built into the FinCrime OS, the Command Center is a role-based daily landing page. It delivers personalized, real-time dashboards and data analytics, allowing users to observe all agent activity and maintain complete governance and control over entity data in line with global AI regulations. The Command Center also interacts with Fenergo's co-pilot for delivering insights and task and journey progress tracking.
Marc Murphy, CEO, Fenergo, commented: 'Across the financial services industry compliance has become increasingly complex, costly and unsustainable. Fenergo's vision is to drive unprecedented change by transforming compliance from a reactive cost-center into a strategic competitive advantage. By re-imagining client lifecycle management through the lens of financial crime operations with intelligence and automation at its core, Fenergo's FinCrime OS will ultimately empower financial institutions to handle more clients, with fewer errors while streamlining operations. Compliance as a strategic engine for growth is our north star and FinCrime OS is a leap forward in realizing that vision.'
Keith Redmond, Chief Product Officer at Fenergo, said: 'Our mission is to evolve Fenergo's CLM solution into an active, intelligent solution that empowers users to focus on the most critical business tasks. This is where agentic AI will be a game changer, allowing for faster onboarding, fewer manual errors and lower compliance risks. We are thrilled to be leading innovation through our FinCrime OS.'
*estimation of time saved on a straight-through processed (STP) periodic review for a low-risk client.
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