Global banking
secrecy and data

The Client 

A major bank with two major trading entities both operating globally, multiple local subsidiaries around the world and with significant common customers across all entities.  

The Challenge 

The bank wished to decrease time-to-trade and processing overheads for new customers or new products for existing customers, many of whom operated across multiple entities globally. Global and local banking secrecy regulations placed many constraints on sharing of client data across entities, making it very challenging to design an efficient on-boarding process. 

The Solution 

Lysis conducted extensive work with global and local legal and compliance staff to design an operating model for on-boarding those maximised efficiencies whilst ensuring compliance with the Banking Secrecy and Data Security legislation relevant to each operational jurisdiction and cross-border scenario. Lysis also assisted the client with the development of new terms of business for many of the entities to include revised Banking Secrecy and Data Security clauses. They also designed a matrix-driven and parameterised data management model that enforced the operational model and implemented the model in global on-boarding systems and remediation of the client data to ensure that it would work within the model. 

The Outcome

Lysis achieved significant improvements in on-boarding times which enabled the bank to retain clients and capture new ones. Compliance with Banking Secrecy and Data Security legislation was improved due to better visibility of requirements and more effective systems support to aid compliance in this regard.