Generali Investments’ holding company taps Fenergo for AML compliance
Generali Investments Holding, the holding company consisting of Generali Investments’ asset management firms, has tapped Irish fintech Fenergo to bolster its financial crime controls.
Generali Investments Holding partners Fenergo
Through the partnership, Generali Investments Holding, which manages over €504 billion in assets, will utilise Fenergo’s client lifecycle management (CLM) solution including onboarding, Know Your Customer (KYC) and transaction monitoring “to address a marked rise in sophisticated money laundering techniques and related sanctions following Russia’s invasion of Ukraine”.
Fenergo says its solution will allow the company to detect suspicious activities in “real-time” and reduce time and effort spent on false positives. It adds that its solution offers cost and resource efficiency, and allows firms to remain compliant with evolving European regulations.
The pair first collaborated in 2022, when Generali Real Estate deployed Fenergo’s CLM solution to manage due diligence.
“With money laundering techniques growing increasingly sophisticated over recent years, coinciding with an uptick in sanctions following Russia’s invasion of Ukraine, ensuring our AML processes are as robust as possible has been one of our key focuses this year,” explains Katia Mangiaracina, chief operating officer, Generali Investments Holding.
“Having witnessed Generali Real Estate’s successful integration of Fenergo’s technology, we were confident its KYC and transaction monitoring offering would be the best fit for our business.”
