Fenergo unveils new transaction monitoring software for compliance purposes

Fenergo, a digital solutions provider for KYC and CLM, has launched a new transaction monitoring tool, which is the result of its acquisition of Sentinels a year ago. The SaaS Transaction Monitoring solution utilizes data to detect suspicious activity in real-time, reducing false positives and enabling financial institutions to adopt a risk-based approach. This allows them to stay ahead of the evolving AML regulations. The solution also supports real-time identification of suspicious activity, and post-event transaction monitoring, creating actionable client profiles for fast, effective data-driven investigations. The hybrid detection engine allows Fenergo to offer its clients the benefits of both KYC and AI-driven transaction monitoring solutions. Fenergo's partnership with Shield pay enables real-time client KYC and AML data to be consolidated in a single platform. Niall Twomey, CPO and CTO at Fenergo, expressed his excitement over the launch, adding that Fenergo's mission is to accelerate financial institutions' growth and create a safer world by transforming how clients understand and manage their customers.