January 25, 2021

Mizuho Americas deploys Fenergo tech for automated client onboarding

The Americas division of Mizuho Financial Group (MHFG) has implemented Fenergo software for the automation its customer onboarding process.

Fenergo says its system allows quick processing of low risk clients

Mizuho Americas operates across investment banking, financing, securities, treasury services, and asset management.

It selected Fenergo’s client lifecycle management (CLM) solution to automate manual processes and help it meet anti-money laundering (AML) and know your customer (KYC) needs.

Fenergo says its system allows Mizuho to “quickly and efficiently” process low-to-medium risk clients while satisfying regulatory obligations.

It adds the firm will have a “single, comprehensive view of customers across all business lines”.

“Implementing Fenergo’s solutions helps us improve our service further by streamlining the client lifecycle journey,” says Greg Eickbush, head of capital markets operations at Mizuho Americas.

“It helps free up resources to focus on the high-touch client service that differentiates Mizuho Americas.”

MHFG is also planning to implement Fenergo’s CLM solution across its global securities division.

“Mizuho is ahead of the curve in that it is the first Japanese bank in the Americas to automate and digitalise CLM processes,” says Marc Murphy, CEO of Fenergo.

“In today’s challenging business environment, it is vital that financial institutions can provide a service to clients that is seamless and frictionless and via the channel of their choice.”

Related: HSBC signs multi-year AML partnership with Polish fintech Silent Eight