Fenergo, the leading provider of Client Lifecycle Management software solutions for financial institutions spanning Corporate & Institutional, Business & Commercial and Private Banking, has ranked in the top position in the 2017 RegTech Performance Report for the second consecutive year due to a stellar year of global sales.
Furthermore, Fenergo’s flagship product, Fenergo Client Lifecycle Management, has ranked in the top position once again for Compliance, Risk & Due Diligence Universal Tools and ranked for the first time for Workflow and Process Tools.
The company racked up a 551% increase in average sales since last year’s rankings were published. Last year, the company had proven a 673% increase in average sales from the previous year.
According to Marc Murphy, Fenergo CEO, “We are delighted to have scored so highly once again in this year’s RegTech Best Performers. Over the last five years, Fenergo has gained huge market traction and global growth. In the last financial year, we have signed ten multi-million-dollar deals across North America, Europe and Asia Pacific, and have gone live with 25 projects. The demand for our solutions is global – every bank in the world is facing the same regulatory challenges. The compliance pressure is immense on banks. In addition, they are now being driven by a digital transformation agenda. Fuelled by an increasingly competitive marketplace, this is an opportunity for banks to transform front, middle and back office operations in an effort to deliver a more streamlined and efficient experience for clients. Fenergo is the partner of choice for these banks because of our proven track record in delivering truly transformational Client Lifecycle Management solutions and projects that enable banks to comply with an increasing number of regulatory obligations efficiently and effectively, and deliver an exceptional and increasingly digital service to clients throughout their lifetime.”
The report provides regulatory technology buyers with the required performance data on RegTech solution providers in order to make an informed purchasing decision. The ranking is based on a custom formula comprised of year established, number of total users and product go-to-market dates.
The second edition of the RegTech Performance Report focuses on solutions that are gaining market traction across the world, defining the types of institutions are deploying them and why. The report also explores the scope of solutions and the areas of compliance addressed by them.
Tina Snelling, CEO of Market FinTech and author of the report, said, “The leaders in RegTech are the ones that truly understand financial services and see technology as an enabler. Fenergo has, once again, demonstrated a strong model of innovation; one that is helping regulated firms reduce costs and drive improved effectiveness and efficiencies”.
In April 2017, Fenergo announced the creation of 500 new roles to its global operations in response to the immediate and global demand for its RegTech and Client Lifecycle Management solutions.
To access a copy of the report, please visit http://www.marketfintech.com/regtech-report-2017-2/.