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.
Corporate, Wholesale and Investment Banking
CLM Process Efficiency
Lysis successfully compiled road maps and designed effective, bespoke processes in three main areas:
1 - improving the customer on-boarding experience,
2 - enhancing on-going transaction monitoring and
3 - streamlining the off-boarding process.
The on-boarding experience included creating/uplifting the following elements: a pre-on-boarding assessment, a KYC questionnaire, an Ultimate Beneficial Owner check, screening, defining a Quality Assurance process, and finally, creating an escalation process. All these elements were linked with a robust AML/CTF framework. The on-going transaction monitoring process was refined by reviewing rules that drive the amount of hits, as well as the process for KYC refresh. Finally, the off-boarding process was streamlined which reduced touch points and resulted in a more efficient and standardised process.
A significant reduction in on-boarding time with less friction points, improved overall customer on-boarding experience, and an efficient and standardised end-to-end CLM process.
A major credit card company required the design and implementation of a bespoke iteration of the iMeta client on-boarding and lifecycle management system to meet specific business needs.
A UK domiciled crypto exchange with global reach had a regulatory requirement for crypto Money Laundering Reporting Officer (MLRO) support.
A U.K. Branch of a major Asian bank needed an in-depth review and enhancement of their AML governance framework. Lysis conducted a success review and drafted all required policies & procedures, and established a KYC Target Operating model.
