Design and implementation of Financial crime management solution for a UK Bank

Industry: Banking

Jurisdiction: Europe

Stage: Start-Up

Activity: Design

Services Provided: Product design, Operating Model design, Technology implementation, Vendor selection, Regulatory approvals

Summary: A newly regulated bank in the UK required a comprehensive Financial Crime Management solution to gain regulatory approval and commence trading. The solution needed to address all aspects of Financial Crime, including Anti-Money Laundering (AML), Transaction Monitoring, Sanctions Screening, and Fraud Prevention. We led the design and implementation of a greenfield Financial Crime Management capability, enabling the bank to meet regulatory standards and begin operations.

Key Outcomes:

• Planned, designed, and documented the Financial Crime Management solution, aiding technical teams in automating data processing and workflow management.

• Implemented ongoing enhancements to mitigate evolving risks from both internal and external threats.

• Ensured full compliance with legislation and regulatory requirements during the review and approval process within the bank's governance structure.

• Collaborated with external experts and Internal Audit to validate the robustness of the solution.