Anglo-Gulf Trade Bank Disrupts Global Trade Banking with Fenergo

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• Middle East - English

DUBLIN, LONDON and DUBAI, UAE, Feb. 4, 2021 /PRNewswire/ -- The world's first digital trade finance bank, Anglo-Gulf Trade Bank (AGTB) Limited ("AGTB"), based in the United Arab Emirates (UAE), has chosen Fenergo, the leading provider of digital Client Lifecycle Management solutions (CLM) to deploy its CLM platform.

Fenergo will enable AGTB to meet its strategic objective to disrupt the trade finance market with a cloud-based, digital-first and client-centric model leveraging emerging technologies such as data analytics and API connectivity. With the ability to assess and mitigate risk more effectively utililsing Fenergo's CLM solutions, AGTB can deliver a more integrated, real-time offering to its clients.

AGTB aims to address the gap in the trade finance market by becoming the first digital bank servicing the sector, providing trade clients  with unprecedented client experiences. Fenergo's API-first CLM solutions will provide AGTB with a single client view across all departments, jurisdictions and products, while expediating Know Your Customer (KYC) and Anti Money Laundering (AML) processes and time to revenue.  

Amit Garg, CEO, AGTB, said: "We created our bank in the knowledge that the needs of global trade banking businesses weren't being addressed. To do this, we continue to  work with  vendors with product capabilities and configurability that help us achieve our goals. Fenergo ticks all the boxes."

Marc Murphy, CEO, Fenergo said, "We are excited to partner with a forward-thinking, client-focused company like AGTB. We look forward to helping them meet their goals and service the requirements of their global trade banking clients. Our solution will allow AGTB to expediate onboarding while providing digital and frictionless client experiences."

About Fenergo (www.fenergo.com)

Fenergo is the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions. Its software digitally transforms and streamlines end-to-end CLM processes - from regulatory onboarding, data integration, client and counterparty data management, client lifecycle reviews and remediation, all the way to client offboarding. Fenergo is recognised for its in-depth financial services and regulatory expertise (from a team of over 30 global regulatory specialists), community-based approach to product development and out-of-the-box rules engine which ensures financial institutions are future-proofed against evolving Know Your Customer (KYC), Anti-Money-Laundering (AML), tax and OTC derivatives-based regulations across 100 jurisdictions. Fenergo recently expanded into new markets including asset and wealth management, private, retail, business and commercial banking and has over 80 global clients. The solution is underpinned by Artificial Intelligence, Robotics Process Automation and Machine Learning technologies, using advanced OCR and NLP capabilities to extract information, expedite compliance and improve operational efficiencies.

About AGTB

AGTB is the world's first digital trade bank to rethink and rebuild trade finance. The company uses a cloud native platform with agile digital solutions to offer clients simple, streamlined and highly automated  processes, while leveraging data to manage risk effectively. www.agtb.com

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SOURCE Fenergo