Setting up a Global KYC COE

Business Challenge

An investment bank based out of USA wanted to address AML compliance deficiencies affecting their business and roll out a revised KYC due diligence process

Solutions
  • Helped client in the identification of a unique set of customers from each business vertical, customer information gaps and project timeline
  • Implemented a global KYC hub – Successfully managed due diligence of more than 2,25,000 customers spanning across 229 jurisdictions
  • Developed Risk & Control Self-assessment for documenting the Risk and Control framework for COE
Impact
  • Enabled Bank to address key AML compliance issues, limit the disruption to the business and meet the milestones provided by the Regulators
  • Global KYC repository for future use
  • Introduction of quality function in COE to ensure consistency in delivery standards