ISA Award Recognizes Strength of Fenergo’s Sales Model and Go-to-Market Ability
Fenergo Wins International Growth Award
Fenergo, the leading provider of Client Lifecycle Management software solutions for investment banks and capital market firms, was named winner of the Outstanding Achievement in International Growth award by the Irish Software Association (ISA) at a gala award ceremony on Friday evening. This year’s award marks the second consecutive ISA award for Fenergo, having won Technology Innovation of the Year for its Client Lifecycle Management platform last year.
Award Criteria and Judging Panel
Based on the opinion of an independent judging panel, this year’s award was made to the company which has made the most significant advances in international company revenues through design, development and execution of strategic sales, international growth, innovative marketing techniques and adaptation of the sales model to achieve even greater growth.
Edel Creely, ISA Chair and Trilogy Technologies Group MD; Jennifer Condon, Enterprise Ireland’s Divisional Manager – Software Sector and Public Procurement; Joe Dunphy, Fenergo Head of Product Management; Marc Murphy, CEO of Fenergo; Fiona McLoughlin, Fenergo Head of Marketing; Brian Cahill, Fenergo Head of Professional Services; Niall Twomey, Fenergo Head of Engineering.
Key Drivers Behind Fenergo’s Growth
Fenergo won based on its accelerated market growth and expansion over the last 18 months, which includes winning eight new-named clients including some of the biggest investment banks and capital market firms in the world, as well as add-on business from existing clients. With company revenue growing year-on-year, in 2013 the company attracted €4 million funding from Investec Partners and existing shareholders to accelerate global expansion and product development. Fenergo’s employee headcount has also increased by 300% over the last number of years, as the company continues to internationalize with new offices opened in Boston, New York and Sydney in 2014.
Commenting on the award win, Marc Murphy, CEO of Fenergo, said, “I am absolutely thrilled that Fenergo has won the ISA award for Outstanding Achievement in International Growth. Fenergo has come a very long way very quickly, achieving milestones that often takes other companies years longer to achieve. That’s testament to the quality of our people, their know-how and expertise and the world-class software solutions that they develop and deliver to financial institutions on a global level. I am very proud to be part of the Fenergo team”.
Industry Challenges and Fenergo’s Response
In a recent Fenergo paper, the company outlines how investment banks and capital market firms are struggling to maintain business as usual in light of the tumultuous regulatory environment. New and enhanced regulatory obligations are putting additional strain on banks to collect more client and counterparty data and documents to support compliance initiatives. The time it takes to collect this information is making the process of reaching compliance longer, lengthening the time it takes to onboard clients, causing client dissatisfaction and culminating in millions of dollars in missed revenue for financial institutions.
Fenergo’s end-to-end and rules-driven Client Lifecycle Management solution provides a single integrated platform that supports the data, documentation, rules and workflow processes required for regulatory client onboarding – including regulatory compliance with KYC, AML, FATCA, OTC derivative regulations (such as Dodd-Frank, MiFID II, EMIR, and Canadian and APAC derivatives) – account opening workflow, data remediation and client off-boarding.
