The challenge:
In 2017, we secured an RFP against several consultancies to lead the delivery of a client review exercise for a global Corporate & Institutional bank. The bank had a significant backlog of 8,000 potentially high-risk client files and required a quick deployment of talent with Corporate & Investment Banking experience and local language skills.
Our solution:
Our onsite consultant teams in Singapore, Hong Kong and Malaysia were in place for six months and identified 22 Know Your Customer (KYC) consultants within two weeks.
The outcome:
We saved the bank an estimated 45% against our competitors’ costs
We have subsequently supported them hiring 65% of the consultants into permanent roles
We now have 460 KYC/CDD resources and 130 transaction monitoring resources on our books