Case Studies

Advised a new digital first bank on their financial crime solution

Technology Solutions

Advised a new digital first bank on their financial crime solution

Requirement

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.

Solution

The Mercore Compliance team worked with the digital bank to build their risk model, which then enabled the design of end-to-end processes to reflect the product risk. The processes were designed to be fully automated, and Mercore Compliance then advised on the selection of the right technology providers to plug in the various components of the system.

Outcomes

The proposed target operating model was approved by the client and was built into the DNA of the product. The solution enabled real-time monitoring of customers, through the visualisation of the flow of funds, and creating adaptive behavioural profiles to monitor for unusual transactions.

Why Mercore Compliance?

We are technology-focused and have very good relationships with the key technology companies offering cutting edge financial crime solutions. We marry this with deep understanding of regulatory requirements.
Case Studies