Copper.co taps Fenergo for AML and client lifecycle management solution

Digital asset infrastructure firm Copper.co has partnered with Fenergo, a software provider for financial institutions, to deploy its client lifecycle management (CLM) and anti-money laundering (AML) solution.

Copper.co partners Fenergo

Founded in 2018, Copper offers institutional investors custody, trading and settlement services across 500 digital assets and more than 45 exchanges. It currently boasts over 500 clients ranging from institutional asset managers to wealth managers, hedge funds, private banks, crypto funds and family offices.

Copper is implementing Fenergo’s tech as it looks to onboard “increasingly complex” client ownership structures.

“Copper needed a CLM and AML platform that could streamline and scale its in-depth assessment and provide a single view of its institutional investor client base,” Fenergo says.

It adds that its solution will allow Copper to ensure “fully automated” checks throughout the client onboarding process.

Carly Nuzbach Lowery, chief legal officer at Copper, says Fenergo’s solution will improve customer satisfaction by “reducing the time it takes to onboard clients and ensuring thorough risk assessment to protect all parties involved”.

Founded in 2009, Fenergo is an Irish regtech that provides financial institutions with client onboarding and lifecycle software, risk monitoring and regulatory compliance across KYC, AML, ESG, tax, SFTR and data privacy frameworks.

It was acquired by a pair of private equity firms in a deal worth $600 million in May 2021. In April this year, Fenergo acquired AI-led AML firm Sentinels for an undisclosed amount.