emagine partners with Japan's Leading Bank to ensure regulatory compliance through Managed Services KYC assignment

Category: Cases

Consultants assessing regulatory documents

The challenge

Facing regulatory requirements from the UK Financial Conduct Authority (FCA), our client, Japan’s largest bank, required assistance in reviewing and renewing their high-risk and medium/low-risk customer base. With approximately 2,000 cases to manage, they sought emagine's expertise to ensure compliance within a tight timeframe.

 

Actions and Outcomes

emagine proposed and executed a comprehensive Managed Services KYC assignment plan, orchestrating an end-to-end delivery process.

Key actions included:

  • Forming a specialized team with expertise in both banking and securities, tailored to the client's needs.
  • Conducting an in-depth analysis of existing systems and processes, navigating challenges such as remote work post-pandemic and time constraints.
  • Managing the entire case lifecycle, including proactive outreach to customers.
  • Implementing efficient communication channels and providing comprehensive Management Information (MI).
  • Successfully renewing approximately 2,000 high and medium/low-risk customer profiles.

Delivery

Working collaboratively with internal subject matter experts (SMEs), emagine aligned with the client's internal Target Operating Model, Compliance Framework, and regulatory standards, adhering to industry best practices.

A dedicated Managed Services assignment team, led by experienced executives and SME consultants, ensured timely completion of the project within the agreed-upon timeframe, achieving successful delivery.

Conclusions

In conclusion, emagine's partnership with Japan's leading bank exemplifies the power of tailored solutions and collaborative efforts in navigating complex regulatory landscapes.

By orchestrating a comprehensive Managed Services KYC assignment plan, emagine addressed the client's urgent need for regulatory compliance within a tight timeframe.

Through the formation of a specialized team, in-depth analysis of existing systems, proactive customer outreach, and efficient communication channels, approximately 2,000 high and medium/low-risk customer profiles were successfully renewed.

The seamless alignment with the client's internal framework and industry best practices, coupled with dedicated leadership and expertise, ensured the timely completion of the project.

This partnership not only demonstrates emagine's commitment to excellence but also underscores the importance of strategic collaboration in achieving regulatory compliance objectives effectively.


 

  By orchestrating a comprehensive Managed Services KYC assignment plan, emagine addressed the client's urgent need for regulatory compliance within a tight timeframe.

 


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