The bank had multiple policies and local procedures, and a cost base that could not be sustained. In parallel, the US regulator was monitoring the bank for significant improvements in the quality of AML data. Service levels had deteriorated compared to competitors.
Fenergo was selected for CLM workflow & KYC and rolled out initially to 24 sites, with full implementation delivered over 3 releases. The programme was delivered end-to-end across business & IT. It involved the design and implementation of the global CLM operating model, which included a Global Risk Assessment methodology and a consistent policy & rules for GDPR.