To JV or not JV

Client Lifecycle Management software solutions provider Fenergo has announced a strategic relationship with Markit and, the latter being itself a joint venture powered by Markit and Genpact.

KYC and counterparty data are cleansed and validated through Markit EDM’s integration layer and legal entity master to support firms to be ready to transact and meet KYC, tax, regulatory requirements and margin agreements. This information is fed into Fenergo’s Client Lifecycle Management solution for workflow-enabled client onboarding and regulatory compliance. Client and counterparty data are enriched and then pushed to downstream systems.

“Working with Fenergo across and Markit’s solution sets extends the value that we are providing to our common customer base,” said Jon May, CEO of and managing director at Markit. “By integrating data from Markit EDM across our other solution sets and leveraging Fenergo’s workflow capabilities, we are providing validated information for organizations to be ready to transact.”

Said Marc Murphy, CEO of Fenergo: “Client Lifecycle Management is highly dependent on good quality, consistent and normalised client and counterpart data. However, most financial institutions are consuming this data manually at present. Through this relationship, we are automating this process with the provision of quality data and Fenergo’s workflow and regulatory rules engine technologies to deliver a highly optimised Client Lifecycle Management process that will help financial institutions significantly improve regulatory and onboarding efficiencies and reduce operational costs.”