Synechron

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/ / Business Consulting

Centralizing and standardizing the Customer Due Diligence (CDD)/Know Your Customer (KYC) process & tooling

A large global bank wanted better insights into the overall client portfolio, to improve CDD file quality and improve processing speed. The goal: to standardize policies, processes, and tools across business units.

The project would implement a CDD workflow and risk assessment tool (Fenergo) across multiple client segments and geographic jurisdictions. The implementation consisted of CDD processes for onboarding, periodic reviews, event-driven reviews and exits, and spanning audiences including Front-office/Relationship Managers, KYC Analysts, Compliance, Sustainability Advisors, Tax Advisors, and Senior Management.

/ / IMPLEMENTING A UNIFORM RISK ASSESSMENT PROCESS FOR A HOLISTIC, CROSS-BUSINESS FINANCIAL CRIME VIEW

Synechron’s delivery of this program included:

  • Providing a holistic view on tooling implementation – by aligning processes, tooling, reporting and impact on people
  • Analysis of “As-is” vs. “To-be” way of working to create common understandings and ways to improve and illustrate a new risk model
  • Specifying and syncing requirements for the end state tooling with development teams
  • Continuous interaction with IT and business to identify other systems to connect
  • A shared go-live/roll-out plan between Global KYC and local teams
  • Delivering training for Fenergo end-users
  • Planning, organizing, and executing the actual change to embed the new way of working
/ / WHAT WE DELIVERED
Leading Global Retail and Investment Bank
Globally aligned processes
Better insights into client and files
Better file quality