ABN AMRO Ventures Invests in Fenergo

ABN AMRO Ventures Invests in Fenergo
13.02.2020 11:06 am

ABN AMRO Ventures Invests in Fenergo

Investment

ABN AMRO Ventures is investing in Dublin-based Fenergo, a provider of Client Lifecycle Management (CLM) software. The company is a proven market leader within the operational CLM, Know Your Customer (KYC), Anti Money Laundering (AML) and Client Due Diligence (CDD) space, all of which are key priorities for ABN AMRO and the financial industry in general.

Fenergo provides award-winning digital transformation, customer journey and client lifecycle management (CLM) solutions and services to global financial institutions. Its rules-driven, state-of-the-art CLM platform manages the client lifecycle from lead and prospect management through onboarding, product and account management, maintenance, client servicing and triggered events tooffboarding.

Established in 2009, Fenergo has demonstrated continuous growth as a result of strong adoption among major global financial institutions spanning capital markets, asset management, retail, commercial, business and private banking and wealth management. Today ,Tte company has a strong global customer base. ABN AMRO has been a customer of Fenergo’s since 2017.

Marc Murphy, CEO, Fenergo: “We are thrilled to join ABN AMRO Venture’s investment portfolio.  As a client, ABN AMRO is aligned with Fenergo’s vision to create best-in-class solutions that enable global financial institutions to uphold increasing and evolving regulatory requirements whilst delivering transformative client experiences. Working alongside our other shareholders, Insight Venture Partners (IVP), DXC Technology and BNP Paribas, we very much look forward to continuing our innovation and rapid growth journey.”

Hugo Bongers, director ABN AMRO Ventures: “We are very happy to add Fenergo to our investment portfolio. This investment will contribute to ABN AMRO’s strategic priority to build a future proof bank, which includes fighting financial crime.  We are impressed with the management team and the solution Fenergo offers. Moreover, this gives us additional exposure to a group of tier one investors.”

The investment in Fenergo is the tenth investment by ABN AMRO Ventures, previously named ABN AMRO Digital Impact Fund. ABN AMRO Ventures is the bank’s corporate venture fund and makes strategic investments in innovative technology companies to boost and accelerate and our digital transformation. The fund has assets of EUR 100 million and positions in Trifacta, Thetaray, Tealium, Tink, BehavioSec, solarisBank, Ockto and Crosslend. It also previously invested in Cloud Lending Solutions (exit in 2018).

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