A global bank, following a substantial cross-boarder banking merger, had two separate KYC/AML firms, policies, & IT infrastructures and need help with the harmonisation process.
Corporate, Wholesale and Investment Banking
Financial Crime Framework Review and Enhancement
Post-merger, the bank had two separate Anti-Money Laundering (AML) / Know Your Client (KYC) firms, policies, and IT infrastructures. These needed to be harmonised as part of bank integration. Also, post-integration, a streamlined, efficient, and common KYC policy was required, and this had to be implemented across 40 core locations globally, taking into account local requirements and those of three leading regulators.
Lysis delivered harmonised global minimum standards and local country uplift KYC policies and procedures to meet the requirements of the FSA, a European National Bank, the Federal Reserve, and the local regulators in each of 40 core locations worldwide. They also implemented the global minimum standards and local country uplifts on the global KYC platform.
A Norway-based crypto broker registered with the Norwegian Financial Authorities. The client had rapidly scaled its operations to meet growing demand in the crypto sector but faced increasing regulatory scrutiny from both national and European regulators.
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.
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.
