Multi-faceted, multi-national and often invisible, money laundering and financial crime continues to be an area of significant concern to the UK financial services industry, with its impact felt in many ways.
As a leading global investment bank, our client had the vision to spearhead its industry in detecting, deterring and protecting its clients against financial crime. This required a wide suite of changes while navigating the complex regulatory landscape and rapidly responding to emerging issues in the competitive environment.
With zero tolerance for implementation error, the transformation programme was a major undertaking that panned national and global hierarchies, functional boundaries and product lines. It resulted in over 100 system releases, involved millions of data records, and required significant changes to the company’s processes, controls and culture.
Gate One lead the design and implementation of the programme, taking a hands-on approach. We aligned the executive leadership team to drive the rapid strategic decision making that was required to deliver a capability which met the strategic and regulatory intent.
Key to success was a programme sufficiently robust to deliver to mandatory deadlines with confidence, yet sufficiently agile to rapidly respond to emerging issues that occur during a global implementation.
The programme was delivered, and our client experienced game-changing results.
- A global roll-out of the new payment systems with new accompanying controls.
- All regulatory commitments met with minimal client impact.
- A best-in-class financial crime capability to better enforce anti-money laundering and sanctions policy.