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)

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