KYC Remediation for a UK and US corporate bank

A significant UK and US corporate bank with questions around the quality of the firm’s AML capabilities and customer files

Division
Operations & Resourcing
Industry

Corporate, Wholesale and Investment Banking

Service-line

KYC Remediation

The Client

A significant UK and US corporate bank

The Challenge

The bank had grown rapidly and an audit in late 2020 raised questions about the quality of the firm’s AML capabilities and customer files.

The Solution

Lysis worked with the bank’s AML compliance and AML operations team to provide the following services:

  • Mobilised 30 KYC Subject MatterExperts (SMEs) and embedded an operational and management structure to work according to the client’s demands.
  • Remediated 10,000s of high and medium risk UK corporate KYC files including ownership, re-screening for sanctions, Politically Exposed Persons (PEP’s) and adverse media and enhanced due diligence as needed.
  • Lysis managed the pipeline and volume/throughput and was responsible for quality management, process improvement and metrics/MI.
  • Detailed Management Information(MI) and progress reporting was provided on a regular basis.
  • Lysis also contributed to process improvement and trained a bank team in India.
Results
Ready to chat about how we can help you?
Get in touch today!
Get in Touch
Other Case Studies
Browse Case Studies
Consulting & Advisory
Global Client On-boarding Optimisation
Corporate, Wholesale and Investment Banking

A global securities house asked for help enhancing and streamlining its client on-boarding and AML TM capability and to off-shore certain parts of its AML processing.

Consulting & Advisory
KYC/CDD Operations integration for the world’s largest cross-border banking merger
Corporate, Wholesale and Investment Banking

Two global banks merged and Lysis was asked to manage the integration of the KYC Operations functions globally for the wholesale & Investment Banking division covering 200,000 customers and 65 countries.

Consulting & Advisory
Fenergo Fen-E to Fen-X migration
Corporate, Wholesale and Investment Banking

Lysis provided project management, senior & junior BA and domain expert expertise for a Fen-E to Fen-X Fenergo migration. Our team worked with client stakeholders.