Case Studies

Deployment to bolster a major bank’s first line team

A financial services firm required support in uplifting its large corporate customers to their new AML standard. Mercore Compliance rapid response team was engaged to assist frontline personnel and work together to ensure the customers were reviewed within the timeframe.

Bringing true diligence to due diligence

A financial services company approached Mercore Compliance because it was unhappy with its current due diligence provider. The company was planning an investment in a European asset management firm, and did not feel like it had the requisite clarity and confidence to proceed with the planned investment based on the information from its current provider.

Tracing the assets of a sensitive PEP

Our client suspected that a person of interest had undeclared and/or hidden assets. The Mercore Compliance team was tasked with verifying the subject’s known assets as well as identifying any additional assets that the target may have intentionally hid from our client.

Enhanced due diligence on a key hire

A nominated advisor wanted to avoid the potential for reputational and financial damage by undertaking an enhanced due diligence report on a potential new board member of its client company. The board member had seemed ‘too good to be true’ and had already been approved by internal due diligence checks.

Deep dive on a major bank’s PEP population

This large UK banking group approached Mercore Compliance for analysis on its PEP (Politically Exposed Person) population and an approach to enhanced monitoring.

Advised a new digital first bank on their financial crime solution

Mercore Compliance SMEs were asked to advise on the design of end-to-end financial crime processes for a new digital bank. The challenge was to create a fully automated solution, which would enable customers to open bank accounts within three minutes.

Automated portfolio monitoring

Mercore Compliance was asked to build a bespoke automated portfolio monitoring system for a UK Tier 1 bank, in order to monitor global multinationals, smaller companies, retail business banking and retail customers, including trigger alerts for real-time risk management.

Design and build new three lines of defence model

Mercore Compliance was asked to work with a multi-jurisdictional bank to re-design their financial crime target operating model, including providing a suite of new standards and procedures, and then to assist in the implementation.

New suite of financial crime procedures

Mercore Compliance was asked to review and enhance the financial crime procedures of a medium-sized South African Bank.

Review of a global bank’s transaction monitoring solution

Mercore Compliance was asked to review the existing transaction monitoring solution for a global bank, and to make recommendations for enhancements and/or system change.

Rapid response team repaired high-risk corporate files

Following an internal audit review, this bank required expert support and practical assistance to rectify serious thematic failings that had been identified in complex high risk corporate files.

Overseeing periodic reviews of a major UK bank

This UK Tier 1 bank required assistance for their periodic review programme for small corporate and SME commercial customers. The project required end-to-end design and implementation, as well as engagement with frontline teams across the UK, necessitating flexible, semi-autonomous teams able to travel to remote client sites.

Remediation of global bank’s full customer base

A multi-jurisdictional mid-sized bank required Mercore Compliance to remediate their full population of medium and high-risk customers.

Review of high risk client base

A leading UK bank asked Mercore Compliance specialists to review their high-risk client base and then establish a BAU unit to oversee ongoing monitoring of the population.