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.
A global wholesale bank.
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).
Lysis provided a programme manager, a project manager, a senior project management officer (PMO) and a team of business analysts (BAs) to work within the bank’s KYC operations management team to define requirements. Lysis resources were selected to provide experience of investment banking compliance and operations. They additionally provided extensive vendor management experience, coupled with strong organisational skills and in-depth experience of keeping complex programmes on track.Lysis personnel took responsibility for the requirements definition and Request for Proposal (RFP) creation. They also developed the methodology that were to be used for scoring the RFP responses and provided structured systems workshops for short-listed vendors. Lysis also took responsibility for the proof-of-concept and the management of a 20 member-strong implementation team covering business analysis, interface development and testing.
The bank successfully met its regulatory deadlines and has been able to provide cost effective IT support for its global KYC initiatives.