Fenergo, the leading provider of digital transformation, customer journey and client lifecycle management (CLM) solutions for financial institutions (FIs), and Chartis Research, the leading provider of research and analysis on the global market for risk technology, have collaborated to create a focused return on investment (ROI) report and model for CLM solutions. The model demonstrates that FIs implementing the Fenergo solution can generate a ROI up to 700% over a four-year implementation period by reducing operating costs, accelerating client onboarding and achieving greater flexibility and regulatory control.
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Key Findings:
- Fenergo’s CLM delivers an average ROI of 379% over four years
- Within the first year, financial institutions are seeing a ROI of up to 195%, in using Fenergo’s CLM solution
- Challenger banks saw the highest ROI (704%) while using Fenergo’s CLM solution over a four-year implementation period, due to these institutions’ agility and modern infrastructures
- Fenergo’s CLM solution provides a ROI of up to 106% for large complex global banks
- Regional universal retail banks can achieve ROI of up to 289% while private banking and asset management arms of global banks can achieve up to 309% over four years
Erik van Gelein Vitringa, Lead Product Owner KYC/Client Acceptance ABN AMRO, said: “Regulatory compliance is still a priority for many financial institutions. By providing a group-wide end-state solution for our client lifecycle management processes, Fenergo helps us to achieve our goals. Obviously, the ability for us to be able to demonstrate compliancy to relevant laws and regulations contributes to cost control at bank level although that is hard to quantify. In addition, from a practical business value perspective, Fenergo is a vital part of our broader KYC framework. Not only are we harmonising processes across the bank, but we are also rationalising our IT landscape, embedding straight-through processing in client onboarding, and increasing operational efficiency in many ways. In that regard, the ROI is evident, and this is just the beginning.”
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