KYC & AML

emagine drives efficiency and quality in KYC operations amidst system transition, becoming strategic partner for Banking Client

Category: Cases

Case

Senior security consultants around a table

The challenge

emagine's client was seeking a partner who could provide a flexible solution to deploying SME teams within KYC to support a significant increase in case load brought about by the introduction of a new system.

Whilst the Risk alerts and triggers where harmonised the client's team were unable to keep up with the demands.

The partnership was to be based upon value accelerating and a focus on continuous improvement to enable improvements to be realised across 3 parameters: People, Process and Systems.

 

Actions and Outcomes

emagine initially proposed a team managed by a Delivery Manager, which later expanded rapidly in less than three months to cover a broader range of services, including Sanctions, Nature & Purposes, Transition monitoring, and ECDD.

This included:

  • Appointment of the team, ensuring an efficient SME skill set application relevant for delivery and improvement. ​
  • Single Point of contact – Delivery management - full team management (1-2-1, KPI and delivery accountability)​
  • Operational management and supporting the client and emagine teams. ​
  • Training and development of the team with client support and our team leads instilling best practice.​
  • Continuous Improvement (review and solutioning of ways of working).​

Delivery

emagine continues to adapt and respond to backlogs and BAU.

emagine has become the strategic outsourced partner for the Bank and is providing a cost effective and value generating alternative to higher cost onshore resources.

  • Achieving desired production levels with an accuracy rate exceeding 98%, surpassing the quality target of 95%.
  • Acknowledgment of all five transformation ideas .​
  • Demonstrated flexibility in overtime to support the client; efficiently clearing backlogs and adhering to burndown plans​.

Conclusions

In summary, emagine's collaboration with our banking client exemplifies the transformative impact of strategic partnerships in navigating operational challenges and driving continuous improvement.

Faced with the daunting task of managing increased caseloads amidst a system transition, emagine swiftly mobilized a flexible and skilled team, led by a dedicated Delivery Manager, to address diverse KYC needs.

Through meticulous operational management, ongoing training, and a commitment to continuous improvement, emagine not only met but exceeded production levels with an exceptional accuracy rate of over 98%.

This success, coupled with the implementation of innovative solutions and demonstrated flexibility in supporting the client's evolving needs, has solidified emagine's position as a strategic partner, providing cost-effective and value-generating alternatives to traditional resource models.

As we continue to evolve and adapt, our partnership with the bank stands as a testament to our shared commitment to excellence and efficiency in KYC operations.

 

  emagine swiftly mobilized a flexible and skilled team, led by a dedicated Delivery Manager, to address diverse KYC needs.

... emagine not only met but exceeded production levels with an exceptional accuracy rate of over 98%.

 

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