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Client Lifecycle Management

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CLM 

Lysis Financial has the necessary skills and experience to assist your firm to compile, review and optimise FC controls across the entire client lifecycle management (CLM) process since we focus on the overall chain of client activities. This will encourage retention, improve customer experiences, and maximise profitability for the firm while remaining fully compliant.

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Consulting 

From prospecting to onboarding, to account management to servicing, and finally to re-engagement, an optimised CLM process creates a comprehensive and accurate 360-degree client lifecycle view that captures every data point of your client’s journey and analyses the data to generate insight into client-preferences and enables proportionate FC controls to be implemented.

The main objective of effective CLM processes is to identify opportunities for growing revenue, boosting operating efficiencies, and enforcing compliance throughout the client lifecycle. Therefore, Lysis Financial advice firms on the most effective operational strategies for executing CLM/ COB/ KYC, given the firm’s geographical coverage and customer mix.

In our experience, the cost of compliance tends to reduce over time as firms mature and the FC controls are embedded in the business as usual activities (BAU). The initial cost layout, to ensure that firms comply with regulatory requirements, tend to be higher but at some point, which we refer to as a firm’s maturity point, there is a noticeable saving per customer file as controls becomes more efficient. This is illustrated in the below CLM Cost-Maturity Curve diagram which indicates a reduction in cost, in line with maturity levels when financial controls function optimally. 

CLM Maturity Curve

Lysis Financial can assist firms to determine their exact level of compliance and to identify the various controls that must be adjusted to reach a level of realignment which is followed by transformation to ultimately reach compliance optimisation.

The methodology is applied across the three main components of any firm namely people, processes, and technology to ensure alignment through all sectors of the business. We can therefore help firms to achieve optimisation, no matter their level of compliance, and this is obtained through consulting, intervention, and a process of standardisation.

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CLM Efficiency Improvement Roadmap

Lysis Financial can assist firms to determine their exact level of compliance and to identify
the various controls that must be adjusted to reach a level of realignment which is followed
by transformation to ultimately reach compliance optimisation. The methodology is applied
across the three main components of any firm namely people, processes, and technology
to ensure alignment through all sectors of the business. We can therefore help firms to
achieve optimisation, no matter their level of compliance, and this is obtained through
consulting, intervention, and a process of standardisation.

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The diagnostic process is applied
across the following areas:

Team Diagnostics

Lysis utilises our bespoke team diagnostic tool to assess the compliance level and the way in which the CLM/FC/AML operation teams perform and to identify challenges that reduce the efficiency and effectiveness of the team. We also use a PRISM team assessment tool to understand the related challenges and assess performance vs. targets, team structures, the firm’s communication and leadership strategies, decision-making, trust, camaraderie, values, and overall alignment.

CLM efficiency reviews

We use our bespoke CLM efficiency model to assess the efficiency of your firm’s CLM operating model. We access measured data points to analyse quantifiable aspects of efficiency and calculate comparable ratios and coefficients. We use questionnaires to gather and assess qualitative data. We look at dimensions such as location, backlogs and control breaches, management information (MI) and visibility, governance and oversight, process efficiency, cost per customer, team, and individual effectiveness (from the team diagnostic, PRISM tool and training needs assessment) and technology effectiveness (from the technology effectiveness review).

Assessments & Capability development

We utilise a capability development assessment process to identify omissions in the knowledge and understanding of members of the CLM/FC/AML operations team. We apply tailored PRISM aptitude benchmarks to help assess if analysts are assigned to the correct roles. To understand perceptions and dynamics, we can conduct interviews with stakeholders and team members to form an independent view or we can work collaboratively with team management to gain insight.

Technology effectiveness review

We review dimensions such as functional support, data management, user experience,
STP (straight through processing) rates, stability, performance, and cost. We also
consider the flexibility of the applications and the underlying technology platforms.

Our Cost Reducation Model

When the CLM efficiency model is implemented correctly, firms are very likely to achieve a total saving of approximately 58% in their third year. This calculation is based on a 20% saving in the technology space, a 10% saving when processes are optimised, followed by a 10% saving due to increased individual performances and an 18% saving in the team performance space.

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A best practice operating model

We further develop Target Operating Models (TOM’s) and roadmaps to achieve the agreed strategy. We have developed a best practice CLM operating model which can be applied to ensure that all elements of a firm’s ecosystem are considered with the objective of optimising all touchpoints.

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