Fenergo, a provider of digital solutions for Know your Customer (KYC) and client lifecycle management (CLM), has acquired Sentinels, an anti-money laundering (AML) transaction monitoring new market entrant with artificial intelligence (AI) based technology.
The acquisition, for an undisclosed amount, strengthens Fenergo’s ability to deliver end-to-end Software as a Service (SaaS) based-CLM with smart transaction monitoring to financial institutions. The deal comes as the industry continues to be challenged by rising financial crime, evolving regulations, operational inefficiencies, and pressure to deliver a better customer experience.
Fenergo enables financial institutions to adhere to KYC and AML regulations while onboarding clients safely and efficiently accelerating readiness to do business. Sentinels’ transaction monitoring solutions are purpose-designed to detect and eliminate criminal transactions fast and at scale.
