ABN AMRO Invests in Fenergo
Fenergo, the Dublin-based RegTech provider of client lifecycle management, has raised capital from ABN AMRO Ventures. This investment follows that provided by DXC Technology in 2019.
Hugo Bongers, Director at ABN AMRO Ventures said, "This investment will contribute to ABN AMRO’s strategic priority to build a future proof bank and fight financial crime. We are impressed with the management team and solution Fenergo offers.”
Dmitry Loschinin, Executive Vice President at DXC Technology said, “We believe that Fenergo shares our vision to provide clients transformative digital solutions at scale by deploying best-in-class KYC, AML, and digital onboarding capabilities with an outcome-based approach.”
Marc Murphy, CEO at Fenergo said, “We are delighted to join ABN AMRO Ventures and DXC Technology’s investment portfolio. Their pedigrees, deep experience and industry knowledge make them both ideal investment partners for Fenergo. ABN AMRO joins BNP Paribas on our list of clients that are also investors.”
Fenergo provides client lifecycle management solutions to global financial institutions, which enable digital client onboarding, whilst optimising customer experiences and ensuring regulatory compliance.
In the past year, Fenergo added key global customers to its roster of over 70 clients including ANZ, PNC, Banc of California, National Australia Bank, Canadian Imperial Bank of Commerce, UBS Asset Management, Anglo Gulf Trading Bank, Royal Bank of Canada, First Abu Dhabi Bank, Tricor, Exos Financial and Mizuho.
Fenergo's revenues grew by 21% in 2019.