White Paper

Regulatory Client Outreach & The Path to Compliance

Company: Fenergo

Fenergo  case study

Category: Compliance

Published: 14 August 2017

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Overview

Due to increased regulations, financial institutions are coming under more pressure to evidence these compliance obligations. This will have to be achieved by either re-using client data/documentation, or by conducting a fresh collection of data/documents from clients to ensure compliance - this is known as Regulatory Client Outreach.

 

The amount of regulatory client data that needs to be collected and kept up-to-date is bigger and more complex than current data gathering and client data management processes can handle. This then leads to manual, time-consuming and error-prone processes.

 

This paper explores the core operational and internal challenges that currently make the process of Regulatory Client Outreach a logistical nightmare for financial institutions. It further explores a proposed ‘best practice' approach by automating aspects of the client management process.

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