KYC Utility Strategy for a large Operator of Bank Infrastructure
A large operator of bank infrastructure wanted to develop a shared operating model and managed service for client lifecycle management (CLM), anti-money laundering (AML) and Know Your Customer (KYC).
Large operator of bank infrastructure wishing to develop a shared operating model and managed service for client lifecycle management (CLM), anti-money laundering (AML) and Know Your Customer (KYC).
The Challenge
There was a need for a CLM/AML/KYC managed service strategy. This included the confirmation of the market opportunity and to define the business and operating plans and a functional design for a full end-to-end CLM/AML/KYC managed service including a shared operating model across banks.
The Solution
Over a three-month period, Lysis deployed a team of senior consultants and CLM/AML/KYC experts to produce a comprehensive strategy for the client across three main workstreams namely business and finance, operations and technology and data. The strategy considered of the following:
- The market opportunity and competitive landscape with the inclusion of client feedback.
- Lessons learned from previous KYC utility builds.
- Regulatory viewpoint which was developed via regulator-interviews and compilation of written regulator opinions.
- Business case.
- The technology landscape and potential vendor partnerships.
- A data model, including data sharing considerations.
- Policy and process standardisation opportunities.
Results
Lysis successfully delivered a comprehensive and executable strategy for a full end-to-end AML managed service which included:
- A comprehensive business plan including a fully working financial model.
- A complete target operating model, including processes, locations, and a people strategy.
- A technology and data strategy and building plan.
- An operational risk framework and model.
- A detailed SWOT analysis.
- A go-to-market plan.
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Our client had implemented a new transaction monitoring system and wished to ensure that the previous two years' transactions had been monitored effectively.
A European Retail Bank with over 4000 employees globally had a tight regulatory deadline to review five years of transactions to identify suspicious transaction and cases of money laundering and/or terrorist funding.
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