A global wholesale bank wished to select and implement a strategic, scalable, flexible client lifecycle management application that would be able to support the customer assessment requirements of its KYC and MiFID programmes as part of its Compliance framework.
Corporate, Wholesale and Investment Bank
CLM Process Efficiency
The bank was running a number of global projects to satisfy Know Your Customer (KYC) requirements. The programme of work supported a global user base in excess of 1,100 in 57 countries worldwide and covered the risk re-assessment of existing customers, new client take-on and customer lifecycle management (CLM).
The incoming Head of Compliance at our customer identified that Client Monies were not being managed as per regulation and this therefore required an immediate remediation.
Two global banks merged and Lysis was asked to manage the integration of the KYC Operations functions globally for the wholesale & Investment Banking division covering 200,000 customers and 65 countries.
Our client had a substantial backlog of transaction alerts. They were concerned that these included a number of true positives that therefore indicated suspicious activity and required reporting.