KYC Managed Service for a Major Estate Agency (HMRC)
A major U.K. estate agency and property consultancy business with global reach.
The client had a need to establish a Know Your Customer (KYC) function which was able to scale and undertake a remediation exercise to meet new regulatory requirements (i.e., 4MLD) and to build out a business as usual (BAU) function to service ongoing requirements.
Lysis deployed a fully functional KYC managed service and provided full time operations managers to provide oversight with a quality control service that was embedded within the service offering. This was achieved due to Lysis’ ability to scale and meet the requirements of the remediation process. Lysis also introduced applicable technology to drive efficiencies and increase automation. This allowed for the transition of a remediated managed service into a fully operational BAU function.
Lysis assisted with the process to ensure successful remediation of existing customers and delivered a fully embedded KYC operational function which met the expectation of the client. This enabled an effective and efficient KYC process which allowed the firm to mitigate their anti-money laundering (AML) and combatting of the financing of terrorism (CTF) risks to meet their regulatory compliance obligations.