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

Fenergo, Generali Investments
Fenergo, the European firm that provides digital solutions for tasks such as know-your client checks and client lifecycle management, has won a deal with Generali Investments as the Italian firm aims to tighten controls to handle sanctions on Russia.

Generali Investments, with more than €504 billion ($568.8 billion) in assets under management, will deploy Fenergo’s software-as-a-service offering to become more compliant with anti-money laundering processes.

Generali will put to work Fenergo’s end-to-end CLM encompassing on-boarding, KYC and transaction monitoring.

The firm is addressing a “marked rise in sophisticated money laundering techniques and related sanctions following Russia’s invasion of Ukraine,” Fenergo said in a statement. 

Generali first partnered with Fenergo in 2022, when Generali Real Estate – a Generali Group company with €38 billion of assets under management – chose Fenergo’s CLM solution to manage due diligence across its property counterparties.