A major global bank, following a merger, had two global trading brands operating across 60+ countries globally.
Corporate, Wholesale and Investment Banking
Client Data Management
A major global bank following a merger.
The bank wished to decrease time-to-trade for new customers and for existing customers who wished to trade new products. Many of these customers interacted with multiple entities of the bank 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.
Lysis conducted extensive work with global and local legal and compliance staff to design an operating model for on-boarding that 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 it in global on-boarding systems. This was followed by remediation of the client data to ensure that it would work within the model.
The bank achieved significant improvements in on-boarding times which enabled it to retain clients and capture new ones. Compliance with Banking Secrecy, Data Security and Data Privacy legislation was ensured due to better visibility of requirements and more effective systems support to aid compliance in this regard.
One of the largest US-based Tech commercial banks needed to build out their offshore capabilities in support of their London operation. This included candidate selection, AML/KYC training, coaching on early cases and then QA of their work. This produced a team of fully trained KYC analysts and a newly established offshore capability.
A crypto asset custodian based in the U.K. with global reach approached Lysis with the request to assist them with the process to obtain registration from the FCA which would enable them to operate in the UK market as a crypto asset business. Due to the holding company’s strong global footprint, part of the FCA requirements for registration included the need for a UK based money laundering reporting officer (MLRO).
Our client was looking at options for the location of new Level 2 teams to support retail customers with affordability and suitability issues.
