A multi-jurisdictional mid-sized bank required Mercore Compliance to remediate their full population of medium and high-risk customers. The project required on-the-ground teams in multiple jurisdictions. In parallel, Mercore Compliance were asked to assist in the design and build of the remediation workflow tool, which would then become the BAU solution.
The team designed and implemented suitable financial crime review procedures and helped build out the KYC platform. Following this, the Mercore Compliance team reviewed approximately 10,000 customers across retail, corporate and private banking operations. Mercore Compliance delivered project leadership and subject matter expertise across all jurisdictions and also operated a London-based hub. We also provided quality control and delivered ongoing assistance with the implementation of BAU processes, including delivering training to the new BAU team, developing new processes, converting paper documents to electronic, and drafting a new Financial Crime Policy on behalf of the client.
All customer reviews were completed within the desired timeframe. Mercore Compliance subsequently ensured that the new BAU team were adequately trained in order to implement the revised Financial Crime Standards and associated processes.
Mercore Compliance is recognised as a leading provider of financial crime, risk, due diligence and compliance services for financial Institutions worldwide, with extensive experience of providing end-to-end ownership and project management of specific populations and issues, whatever the complexity.