Wealth Management and Private Banking

Regulatory Expertise

Lysis has deep experience in Private Banking & Wealth Management under UK and EU regulations. We are experts in the Risk-Based Approach, having helped multiple clients design and implement customer risk rating methodologies and downstream risk controls.

We regularly work with Swiss legislation and regulations for AML, including the Anti-Money Laundering Act (AMLA), Anti-Money Laundering Ordinance (AMLO), and FINMA Anti-Money Laundering Ordinance (AMLO-FINMA). Our work with the Swiss Financial Market Supervisory Authority (FINMA) regime covers aspects such as:

• Identification and Verification, including verifying the beneficial owners of the assets
• Video and Online Identification
• Customer Due Diligence
• Enhanced Due Diligence
• Ongoing Monitoring of customers
• Customer profiling
• Monitoring of customer transactions
• Suspicious activity reporting to the Money Laundering Reporting Office Switzerland (MROS)
• Training and Awareness
• Governance and Oversight
• Banking secrecy and Data security & privacy

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Jurisdictions

Lysis has extensive experience across various jurisdictions, including the US, EU, Switzerland, UK, and APAC regions such as Singapore and Hong Kong. This broad expertise allows us to navigate and comply with diverse regulatory environments effectively.

Customer Types

We specialize in applying Customer Lifecycle Management (CLM) and Anti-Money Laundering (AML) requirements for high net worth individuals (HNWIs) and ultra-high net worth individuals (UHNWIs). Our experience extends to working with family offices, trusts, funds (including real estate funds), Special Purpose Vehicles (SPVs), tax-planning structures, private equity firms, venture capital firms, and other complex, private, and often opaque entity types.

Technology & Innovation

At Lysis, innovation is at the core of our services. Our Innovations Lab enables us to test new technology and data solutions, ensuring we stay ahead of industry trends. We run a CLM managed service for asset managers using platforms like KYCPortal, Napier AI, and Lexis Nexis Bridger. Additionally, we have extensive experience with wealth management CLM platforms such as Fenergo, Appway, Temenos WealthSuite, and IMTF Siron One. Our expertise also includes working with main screening platforms like WorldCheck, KYCHub, and ComplyAdvantage.

We have established a wealth management data analytics partnership with Calimere Point and an inbox management & efficiency technology partnership with JAID.

Services

Our Private Banking & Wealth Management services include:

• Target Operating Model (TOM) Services: We have conducted global TOM programs for CLM for major global banks, including RBS/ABN Amro integration and Nomura. Our TOM services focus on client experience, process efficiency, governance and oversight, risk-based approach to compliance integration & effectiveness, communication and escalation channels, location strategy, functional modeling, technology including AI, data management, and training and awareness. Our methodology covers all relevant factors for a complete TOM, including:
  • Organisation, people, and location
  • Functional model and systems to support it
  We can cover all of these in a complete TOM assignment or focus on the specific parts that require attention. Examples of client projects include:
  • Global KYC policy rollout: Trained CLM operatives on the new policy and procedures and rolled them out to cover the bank’s global business lines.
  • Global bank CLM/KYC system: Managed the development and roll-out of the core platform supporting 1,775 users in 65 countries globally.
  • European client classification: Designed the processes and technology to implement MiFID 1 & 15A6 classification at a global bank.
  The process and system requirements for client onboarding and AML differ markedly across retail, private, and wholesale banking and across wealth and asset management due to the nature of the clients and the complexity of the services offered. Lysis looks at several key aspects of the processes to ensure a suitable operating model and platform support, including:
  • Nature and complexity of customers: For example, are individual customers simply that, or do they also operate via companies, trusts, family offices, etc.? What does this mean for their typical transaction profile? Are complex and/or opaque legal entity structures involved?
  • Location of customers: Are they active in a single country or region, or are they global? What does that mean for jurisdictional compliance requirements?
  • Nature and complexity of products used and the relevant compliance risks those products present.
• Process Modelling & Workflow Services
• CLM Efficiency Model
• Banking Secrecy & Data Security Services
• Case Remediation Services

Customer-Centric Operation

Lysis has worked on several projects to help Private Banking and Wealth Management customers convert from an account-based to a customer-centric model. Our deep working knowledge of CLM and AML requirements for HNWIs and UHNWIs, along with our extensive experience with family offices, trusts, funds, SPVs, tax-planning structures, private equity firms, venture capital firms, and other complex entity types, positions us as a leader in the industry.

CLM & AML Services for Private Banking & Wealth Management

Lysis Group has a specialist client lifecycle management (CLM) and financial crime compliance (FCC) operations division (Lysis Operations) which provides teams to carry out the operational work involved in BAU client onboarding, ongoing monitoring & screening for sanctions, PEPS & adverse media, Know Your Customer (KYC) remediation & refresh, transaction monitoring BAU/remediation, and suspicious transaction filing.

Our customers for these services include some of the world’s largest banks as well as other financial services firms and those in digital assets, real estate, and gaming/gambling. We have knowledge and practical experience of the requirements across multiple regulatory jurisdictions, including the UK, EU, Switzerland, US, APAC, and LatAm.

Our approach to running CLM operations programs for onboarding, refresh & remediation has several key features, including:

• Right-sized teams of resources with appropriate levels of experience
• An agreed and appropriate blend of on-shore, near-shore, and off-shore resourcing to ensure the best cost point
• An effective management structure
• Agreed Quality Control and Quality Assurance regimes and reporting
• Close liaison with the compliance and operations teams within our customers, particularly during set-up to ensure we are deploying the right standards from the start
• Governance, reporting, and MI that integrates with the governance structures of our clients
• Transparency on throughput and quality

By leveraging our expertise, innovative technology, and comprehensive services, Lysis is committed to delivering exceptional value and ensuring compliance in the wealth management and private banking sectors.

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