Global hub locations
Front office staff trained
Client onboarding staff trained
Due to the changing regulatory landscape and heightened global regulatory requirements, the Tier 1 Banking Client’s management board mandated a review of KYC processes throughout the Bank, including end-to-end client on-boarding and off-boarding procedures, due diligence requirements, risk rating methodology, and Run The Bank governance and escalation paths.
Following the review, the Client was required to write and implement new globally consistent KYC policies and procedures across all booking locations and train all KYC related staff in order to comply with regulatory demands and safeguard the Bank against threats including money laundering and terrorist financing activities.
The project was successful in implementing globally consistent KYC policies and procedures across all booking locations and hubs. All KYC staff in the front and back offices were fully trained on the new KYC requirements and are currently applying these requirements for all new and existing clients of the Bank.