A major credit card company required the design and implementation of a bespoke iteration of the iMeta client on-boarding and lifecycle management system to meet specific business needs.
Payment Services & Card/ Merchant Acquirers
CLM Process Efficiency
A major credit card company with global reach using the Lysis anti-money laundering (AML) managed services to carry out all their Know Your Customer (KYC) and Client Lifecycle Management (CLM) requirements.
iMeta & Lysis worked with the client to map-out and understand the AML policy in order to translate it into a workable workflow and helped to design matrices to assist in creating an accurate architecture which resulted in rules-based risk ratings. Lysis also worked with the client and the software provider to produce a detailed and accurate functional specification document which specified the requirements and the components of the CLM system. The system was developed and tested to ensure that it met the client's requirements and developed the integration of the final solution into our servers. Lysis successfully deployed the finalised iMeta solution to carry out the needs and requirements relating to client on-boarding, KYC remediation and on-going monitoring. Encompass & Lysis worked with Encompass to replicate the client's KYC policy into the Encompass workflow and built an API between iMeta and Encompass to ensure a holistic approach to the KYC processing and the CLM controls. This was followed by a pilot test of reviewing 500 legal entities through two work streams & current process v. Encompass and Lysis produced a detailed report for the client which detailed results of the POC.
Our client had a substantial backlog of transaction alerts. They were concerned that these included a number of true positives that therefore indicated suspicious activity and required reporting.
A significant UK and US corporate bank with questions around the quality of the firm’s AML capabilities and customer files
The client is incorporated in Ireland as an Irish Collective Asset-management Vehicle (ICAV). The client is an American investment fund which specialises in lending large amounts of money to various entities ranging from listed entities to unregulated entities based in the USA.
