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.
Payment Services & Card/ Merchant Acquirers
Financial Crime Framework Review and Enhancement
A UK-based alternative banking and payment platform that offers innovative pay-tech solutions to global clients.
Lysis worked closely with the client in preparing the letter of response to the regulator highlighting priorities and commitments linked to specific timelines which was detailed in a roadmap. Lysis also delivered a number of activities including the high-level design of a robust financial crime framework, rewrote their policies and procedures, uplifted the client's risk assessment and their financial crime governance structure, improved their Know Your Customer (KYC) processes and uplifted the Suspicious Activity Reporting (SAR) procedures. Last but certainly not least, Lysis also assisted with the drafting of the client's MLRO reports.
A major estate agency had a need to establish a Know Your Customer (KYC) function which was able to scale and undertake a remediation exercise to meet new regulatory requirements (i. e. , 4MLD) and to build out a business as usual (BAU) function to service ongoing requirements.
A listed UK-Based subprime lender offering lower value short term loans needed to enhance, redesign, and implement a new FC framework. Lysis provided the client with a understanding of risks, practical advice on risk mitigation, & robust policies.
A UK-based online bank that provided multicurrency accounts for cross-border European transactions. The client wanted to enhance their customer on-boarding experiences and improve their CLM process.
