KYC setup enhancement

Client Needs & Objectives

Our client, the WM division of a major US bank was in the middle of a large KYC remediation and upgrade of its general KYC set up including several streams with IT, process and organization.

The main objectives were:

  • Overview of the data management workflow
  • Preparation of the PDPA (Singapore & HK)
  • Monitoring of the KYC remediation
  • Monitor the implementation of the new workflow tool

Our Approach

Data stream:

  • Review of the full data mapping and workflow
  • For each data type, review and validation of the source, input, control, consistency check and flow between system
  • Preparation of the PDPA (data protection) filing, update of procedure and client communication

IT system implementation:

  • Preparation and issuance of a weekly report
  • Review of the specifications
  • Training of 100+ users
  • UAT monitoring and control
  • Deployment follow-up

Client Benefits & Main Results

Our client achieved the aggressive deadline of the KYC project and delivered the new system with the relevant training and manuals

Remediation was closely monitored and qualitative inputs helped identify quick wins

The process has been secured thanks to strong data management and usage (incl. the dashboards)