PwC has joined up with Fenergo, a provider of digital client lifecycle management solutions, to streamline know-your-customer (KYC) compliance for financial institutions.
The partnership will provide client onboarding and KYC review and refresh operations as managed services, adding to PwC’s existing anti-money laundering (AML) and KYC offerings.
Ian McConnell, PwC partner, said: "PwC is always looking at ways to disrupt ourselves and our markets. Acquiring cutting-edge technologies that help our clients is one of the ways we're doing that."
"Working with Fenergo will enable us to do KYC differently—complementing our regulatory knowledge, delivery capability and experience with cloud-based CLM technology will increase the number of services that we can offer to financial institutions.”
Julian Clarke, head of partners and alliances at Fenergo, said: "By working with PwC, financial institutions can mutualise the cost and pressure that they're under whilst also improving the experience for their customers. We're focused on collaborations that make sure that financial crime doesn't impede financial institutions. The alliance with PwC is a hugely important part of that ecosystem."
