Fenergo has launched a rules as a service (RaaS) cloud-based regulatory rules offering.
According to Fenergo, the solution will enable financial institutions to easily integrate Fenergo’s regulatory rules capabilities into their existing digital platforms.
Hosted on Amazon Web Services, the rules engine utilises client data in rules calculations and leverages Fenergo’s regulatory content.
Fenergo’s RaaS is available as an on-demand repository of local and global rules for financial institutions, seeking a digital solution for their know your customer, anti-money laundering and regulatory requirements across all jurisdictions.
This provides financial firms with a maintained compliance solution, future proofing them against regulations including the Foreign Accountant Tax Compliance Act, the Securities Financing Transaction Regulation, the General Data Protection Regulation and the second Markets in Financial Instruments Directive.
Greg Watson, global head of sales at Fenergo, said: “Banks and financial institutions are undergoing a major shift where the experience their customers receive now takes precedence.”
He added: “Fenergo’s externally validated RaaS supports financial services providers in complying with regulatory obligations while liberating them to focus on the delivery of optimum customer experiences.”
Sang Lee, co-founder and managing partner at Aite Group, commented: “Financial institutions are under increased pressure to improve customer experiences while at the same time keep up with complex regulatory requirements.”
He added: “Fenergo’s heritage as a leader in regulatory technology makes it perfectly placed to support financial firms in their digital transformation journeys while helping them keep on top of compliance.”
