Skyline image credit Pixabay.Bru-n0Fenergo has announced the availability of a new application on the Salesforce AppExchange. The new app provides an integration point between Salesforce and Fenergo. It allows financial services customers of Salesforce to capture the required KYC (Know Your Customer) and AML (Anti Money Laundering) fields required by Fenergo without having to leave their Salesforce environment.

Administrators are able to configure the relevant fields so that users can enter them as part of the onboarding process. That data is then synchronised with the Fenergo CLM (Customer Lifecycle Management) solution.

What is on AppExchange

The app exchange listing went live in October and to date there are no reviews. Pricing is available and the solution starts at €500 per user per year. For Salesforce users this is not just a case of entering of few fields for use within the Fenergo application. The app also allows them to:

  • Configure Fenergo instances and map to existing objects in Salesforce
  • Capture mandatory and optional fields for new legal entity creation
  • Trigger Client Onboarding Cases
  • Link to existing entity registers
  • Search for existing Fenergo entities
  • Drill down into status of cases
  • Upload required onboarding documents
  • View existing and add new products
  • Customise data sets
  • Retrieve latest case status

The AppExchange entry infers that no other systems are required to utilise this application. However a license of Fenergo os probably required for each user. In addition the solution is only available for Salesforce customers using professional, enterprise or unlimited versions of Salesforce.

Marc Murphy, Fenergo’s CEO, commented: “As financial institutions look to digitally transform, the need to create a client ecosystem becomes essential, ensuring every touchpoint on a client journey is seamless, accessible and frictionless. The launch of Fenergo’s native Salesforce application connects the CRM and CLM platforms of two leading providers, giving financial institutions a truly Single Client View, Digital Client Orchestration and a sophisticated and dynamic compliance solution, delivering true compliance by design.”

What does this mean

For Salesforce this another endorsement of its Financial Services cloud. Seemingly it is the first technology partnership that Fenergo has. It does share system integrators with Salesforce such as Accenture and Deloitte. As Salesforce looks to increase its penetration of the financial Services market gaining new, well recognised applications from the financial service world onto its platform is vital

Mike Wolff, SVP, ISV Sales, Salesforce (Image credit Linkedin)
Mike Wolff, SVP, ISV Sales, Salesforce

Mike Wolff, SVP, ISV Sales, Salesforce commented: “We are happy to welcome Fenergo onto AppExchange, as they provide financial institutions with a solution for end-to-end client onboarding and regulatory compliance. The exponential growth of AppExchange underscores the enormous opportunity the entire Salesforce ecosystem has in creating cutting-edge solutions and driving customer success.

For Fenergo customers this will enable their front office relationship managers to increase efficiency. It claims that the onboarding process is sped up 82% through using its solution. In addition KYC processes and reviews are also sped up, but as much as 37% without compromise in quality.

This integration connects the front and middle office together. It ensures that the data collected during customer touch points is immediately fed back to the compliance teams. This help to decrease risks and increase customer satisfaction as customers find compliance processes invisible to their experience.

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