REQUIREMENT

Campion Willcocks was asked to build a bespoke automated portfolio monitoring system for a UK Tier 1 bank, in order to monitor global multinationals, smaller companies, retail business banking and retail customers, including trigger alerts for real-time risk management.

SOLUTION

The bespoke system was designed to take feeds from relevant internal databases alongside external data sources to automatically monitor the entire customer portfolio of one million customers. Events deemed high risk such as sanction hits, or triggers such as change in ownership or customer activity were built into the system ruleset and enabled the system to identify and flag for investigation of particular customers. This enabled the bank to focus its resources effectively using a risk-based approach across its entire customer portfolio.

The bank subsequently implemented automatic processing of low and medium risk customers and negated the requirement for three and five year annual reviews, respectively.

OUTCOMES

The minimal viable product (MVP) was available within 12 weeks, with more sophisticated capabilities rolled-out in a staged approach in line with project plans. Providing up-to-date insights, the bank has automated the identification of high risk and trigger events, and can now undertake bulk automated remediation, accurately screen for adverse media, PEP and sanctions hits and fraud; and report accurate customer risk ratings based on internal models. The solution received positive regulatory review.

WHY CW COMPLIANCE?

Campion Willcocks was selected based on its breadth and depth of experience in delivering successful AML and Know Your Customer (KYC) programmes globally.