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.
A significant UK and US corporate bank with questions around the quality of the firm’s AML capabilities and customer files
An international payment company with offices in major European hubs outsourced KYC service provision was unsatisfactory. A significantly enhanced and more effective capability was developed by Lysis.
