Our client was in the middle of an extensive regulatory remediation for the Central Bank of Ireland and the remediation.
Payment Services & Card/ Merchant Acquirers
Irish Payment Services Provider
Our client was in the middle of an extensive regulatory remediation for the Central Bank of Ireland. They asked Lysis to provide a highly experienced AML SME to provide input to an Enterprise Wide Risk Assessment (EWRA) and to lead development of a new Customer Risk Rating Methodology (CRRM).
Lysis personnel mapped the firm's business model to Irish regulation to ensure that all relevant regulations were covered and then provided input to the EWRA. We also lead the development of a revised CRRM.
Our client wished to outsource the Client On-Boarding and AML Operations for its merchant acquiring business in Europe, replacing their current major global outsourcing partner.
A major bank with two major trading entities wished to decrease time-to-trade processing overheads for new customers and for new products for existing customers.
Following a review from the Financial Conduct Authority (FCA) in 2021, and a subsequent letter from the regulator, the client had to address a number of gaps that were identified by the regulator.
