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 crypto asset firm domiciled in the US asked Lysis to support the firm's financial crime framework and policy creation for transaction monitoring across the UK, US, and for the rest of the firm's global customer base to improved risk management, quality and increased operational efficiency.
A global wholesale and investment bank needing client on-boarding and AML Support
Our client had a large backlog of increasingly old transaction alerts that potential indicated suspicious activity and required reporting.
