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