Effective Client On-Boarding and Client Lifecycle Management
Despite increasing regulatory directives and heightened awareness of the importance of KYC and AML, many firms still struggle to control these critically important business functions. We recognise that many firms, while keen to automate these highly complex policies and procedures, are often unwilling or unable to commit the significant investment typically needed to solve the challenges of being compliant with the demands of Know Your Customer (KYC) and the Anti-Money Laundering (AML) regulatory directives. To address this urgent requirement, Lysis and iMeta have come together to create a new one stop Managed Service solution which supports a firm’s entire on-boarding and Client Lifecycle Management (CLM) requirements.
Case Study: LYSIS & NAPIER Transaction Monitoring
Lysis Operations Case Study. The challenge: A requirement to have an effective transaction monitoring framework, operational controls and processing to manage and monitor payments across Europe and to establish a solution which can adapt and iterate with the constantly-changing regulations and requirements.
In this paper, we take a closer look at the numbers relating to payments, transactions, and the world of compliance to help explain why some of the current transaction monitoring technologies and operational controls struggle to identify illicit activity. We then look at the role of technology and what future developments will bring to transaction monitoring.