NIBC selects Fenergo’s KYC tech, reshaping Dutch banking future.

  • NIBC, a commercial bank in the Netherlands, has opted to utilise Fenergo’s onboarding and know your customer (KYC) solutions.
  • The Software-as-a-Service (SaaS) offering from the Irish fintech firm, which is integrated with Salesforce, will replace NIBC’s existing KYC software.
  • Fenergo’s solution promises operational efficiencies and a streamlined onboarding process for new clients by enhancing the KYC process.

NIBC, a Dutch commercial bank, has chosen to deploy a new onboarding and KYC platform from Irish fintech firm, Fenergo. The replacement of the bank’s old systems with Fenergo’s KYC solution is aimed at gaining operational efficiencies and simplifying the onboarding process.

Fenergo’s SaaS offering, which is integrated with Salesforce on the front-end, is set to fortify NIBC’s internal operations. According to an executive at NIBC, the decision to switch over to Fenergo’s solution was due to the need to replace the bank’s legacy, in-house, and highly customised KYC system. The deployment of the new platform was reportedly completed within a very short period.

Established in 2009, Fenergo offers a range of services to banks and fintech firms, including KYC, transaction monitoring, client lifecycle management solutions, along with product provisioning and regulatory compliance. The firm’s existing clients include, a digital asset infrastructure firm, iBanFirst, a payment service provider (PSP), and Generali Investments Holding.

With Fenergo’s new platform, NIBC can look forward to a unified client view across the business while also streamlining the onboarding process for new clients with robust KYC procedures.