Fenergo has acquired Sentinels, an anti-money laundering (AML) transaction monitoring market entrant with artificial intelligence (AI) based technology. As a result of the deal, Fenergo’s clients and financial institutions will be able to combine rich KYC profiles with client behavioural data for continuous and granular KYC monitoring.
Marc Murphy, CEO of Fenergo, comments: “Our shared goal of aiming to solve the increasing compliance and operational challenges facing financial institutions made Sentinels an ideal fit. By adding transaction compliance to our existing client onboarding and product origination solutions, financial institutions can monitor and review client behaviour and identify risks on an ongoing basis. This blended approach to financial crime makes us well placed to address the rising compliance challenges faced by financial institutions more efficiently.”
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