The latest technology news in the wealth management sector from around the world.

Dublin-headquartered Fenergo, a provider of AI-powered solutions for client lifecycle management (CLM), has announced that Geneva-based investment group Pictet has deployed Fenergo’s CLM solution to enhance its asset servicing capabilities.

FundPartner Solutions (Europe), Pictet Group’s European fund management company, is harnessing Fenergo’s platform to boost onboarding efficiency for its European clients and their end investors. Specifically, the move will see Pictet automate some of the manual processes associated with investor onboarding and lifecycle management, the firm said in a statement.

It is also using Fenergo’s solution as both a policy engine and a data repository, incorporating advanced anti-money laundering (AML) and KYC verification controls aligned with Pictet’s internal risk-based approach.

FundPartner Solutions (Europe), offers a range of services to asset managers and investment funds, including fund administration, risk and compliance support, and investment operations assistance.

“This migration will not only digitalise several processes but also enhance efficiency, improve risk management, and address growing regulatory challenges. This implementation is a first step in our long-term commitment to offer our clients the highest level of services and digital experience available,” Dorian Jacob, CEO of FundPartner Solutions Europe, said.

“As asset servicing experts navigate a fast-evolving regulatory landscape in Europe, we’re seeing unprecedented appetite for our CLM solutions among investment firms,” Ruth Ormsby, managing director EMEA at Fenergo, added.

Fenergo aims to digitally transform the way financial institutions, asset managers, fintech firms, and corporates onboard and manage clients throughout their client lifecycle. Its software digitally orchestrates client journeys from initial Know your Customer (KYC) and client onboarding, automating regulatory compliance and enabling continuous monitoring throughout the client lifecycle (transaction monitoring, perpetual KYC), to client offboarding.