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
Innovation, Authorisations & Banking Solutions
Financial Crime Governance Framework design for a Crypto Asset firm
Crypto & Digital Assets

A new to market crypto asset business domiciled in Ireland received a regulatory requirement from the Central Bank of Ireland to design and embed a financial crime, AML/CTF, governance framework.

Training & Certification
AML Masterclass for UK AML Regulations for a Global Card Services Operator and Merchant Acquirer
Payment Services & Card/ Merchant Acquirers

Our client had a new executive-level Money Laundering Reporting Officer (MLRO) and some new board members. Our client asked Lysis to run an AML Masterclass for UK AML Regulations.

Consulting & Advisory
FCA Section 166 Risk Mitigation Programme
Corporate, Wholesale and Investment Banking

A U.K. based broker dealer required assistance with the management of their Financial Conduct Authority (FCA) issued Section 166 remediation notice.