Fenergo, the European-based provider of digital solutions for KYC and client lifecycle management (CLM), has launched a solution to enable financial institutions to reduce regulatory and reputational risk and streamline operations for ESG compliance. This allows firms to automatically calculate climate, reputational and complementary ESG risks and efficiently fulfill regulatory obligations, including Sustainable Finance Disclosure Regulation (SFDR) and the Corporate Sustainability Reporting Directive (CSRD).
ESG software as a service (SaaS) is available as a standalone or as part of Fenergo’s end-to-end CLM platform. It allows financial institutions to streamline data capture for their clients and visualise supply chain hierarchies before applying accurate ESG ratings. Users can absorb ESG into existing CLM frameworks and leverage financial crime resources. Firms can build client ESG profiles by leveraging information from external ESG data providers before validating it against existing KYC documentation and controversy screening. With the ability to classify and prove the ESG performance of the client book, financial institutions can unlock access to green funding, reduce capital requirements and benefit from an enhanced reputation.