Fenergo Launches Client Lifecycle Product

Solutions provider Fenergo has launched Fenergo Data Integration Manager, to enhance the client lifecycle management process for financial institutions.

A rules-driven data interface solution, Fenergo Data Integration Manager consumes, processes and routes client and counterparty data from multiple sources and systems, delivering data to support and evidence regulatory client lifecycle and reporting processes.

The solution is being launched in response to an immense data management challenge being faced by financial services organizations.

As Joe Dunphy, Fenergo vice president of product management, explains: "While there is an increasing number of options available in the market for sourcing client and counterparty data, they are rarely in sync and there is no ‘one-stop shop' for all of a bank's counterparty data needs. This places an additional burden on the users of that data to manage multiple sources, resolve and remediate discrepancies, and apply appropriate data management rules. This means financial institutions are spending more time, effort and money than is necessary to manage data to meet regulatory requirements and manage the client lifecycle efficiently."

The firm is working with a host of data providers that make up the legal entity data ecosystem, including three of the Depository Trust and Clearing Corporation data services: Avox, Clarient Entity Hub and Omgeo ALERT.