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Fenergo, Centralis Group
Dublin-headquartered Fenergo has won a contract from Luxembourg’s Centralis Group to streamline client and investor onboarding. Consequently, Fenergo is able to make the client and investor onboarding process faster and more efficient. 

Centralis provides alternative investment and corporate services, covering 13 countries, while Fenergo provides client lifecycle management and know-your-customer solutions. 

A few days earlier, Fenergo appointed a chief customer officer, Andrew Brandman. 

In October 2022, Fenergo issued a global study of more than 1,000 bank executives, which found that such institutions spend millions of dollars every year inefficiently in onboarding and maintaining clients. On average, more than half of financial institutions spend between $1,500 and $3,000 to complete just one client KYC review. Large financial institutions onboarding thousands of new clients are spending up to $30 million per annum on KYC.