A major bank with two major trsing entities wished to decrease time-to-trade processing overheads for new customers or new products for existing customers.
Corporate, Wholesale and Investment Bank
Client Data Management
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.
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.
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.
Lysis reviewed the exchange’s AML/CTF framework which resulted to a successful maturity assessment review.
The incoming Head of Compliance at our customer identified that Client Monies were not being managed as per regulation and this therefore required an immediate remediation.
A crypto asset business, a subsidiary of a US Nasdaq-listed company requested assistance with the process to obtain FCA registration. Lysis provided the client with a highly experienced MLRO and compliance team who worked with senior management to implement required controls and processes. The client was successful in obtaining FCA registration.
