Know Your Client (KYC) Remediation
Lysis' KYC/Client Due Diligence (CDD) Remediation Solution provides:
A highly cost-effective way to identify, validate and remediate incomplete KYC/CDD files for active customers.
The ability to utilise data from multiple trading, settlement, transaction and financial systems within our clients to identify and close inactive customers.
Full auditability of the remediation and closure process.
Data managers skilled in identifying files for remediation.
A highly expert team of KYC/CDD Remediators with the knowledge to remediate files against regulations globally and to interact with front office staff and clients to get the remediation done.
Experienced Compliance programme managers with the ability to scope, size, plan and manage a KYC/CDD Remediation programme within time and budget.
Lysis' KYC/CDD Remediation Service approach:
For clients who have already identified their specific remediation population Lysis can provide a managed, dedicated and expert team of KYC/CDD Remediators to conduct the remediation programme and liaise with internal control functions and the regulators/ external auditors to demonstrate quality and completeness of the exercise.
For clients who know they have a remediation requirement, but have not yet accurately and precisely identified the population to be remediated Lysis can additionally provide a managed, dedicated and expert Data Management team, supported by our proprietary client data management tool, to analyse KYC/CDD records, transactional systems, client and counterparty master records and other data sources to identify active customers with incomplete KYC/CDD which therefore require remediation.
Lysis' Team and Credentials
Lysis has a team of KYC/CDD specialists who have many years of expertise in the remediation of KYC/CDD files across global businesses.
Lysis also has a specialist KYC/CDD and client data management team which can be deployed to pre-screen customer files to determine which require remediation by asking questions such as: are the files complete? does the customer have trading activity in any of the front office or settlement systems?
This pre-screening activity is supported by our proprietary client data management tool.
Lysis has successfully executed global KYC/CDD Remediation programmes for wholesale and investment banks, commercial banks and brokerages houses.