Addresses chronic shortage of trade finance to businesses globally with Fenergo’s API-led CLM solutions
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.
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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.
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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.”
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