Cost effective, operational efficient and regulatory surety solution for all KYC and AML processing capabilities
Lysis, a leader in business change management services and a provider of innovative KYC services through Lysis Operations, and iMeta, a provider of Client Lifecycle Management software, have joined forces to create a comprehensive Client Lifecycle Managed Service designed specifically for the small to medium size institutions in the financial services sector. The new offering streamlines the on-boarding, KYC and CLM processes, and will benefit financial firms who are looking to significantly improve efficiency and reduce the cost of their overall regulatory operational KYC processing and reporting obligations without having to incur the high capital investment typically associated with on-premise CLM and KYC solutions.
The new service includes a thorough 'health check' review of any existing KYC & AML policies and operational frameworks, and is underpinned by the proven, end-to-end Client Lifecycle and Master Data Management platform, provided by iMeta. This unique approach enables users to confidently and efficiently manage all their current, and future, data and operational processes, and to have complete oversight, and control, of their regulatory commitments.
Drawing on Lysis's in-depth client on-boarding and KYC expertise, combined with iMeta's industry leading CLM technology, the new service delivers a streamlined and cost effective solution. It eliminates the need to secure scarce and expensive skills, by providing the appropriate expertise and capacity to deliver these complex processes which are tailored to meet clients' specific needs. The Lysis KYC Managed Service provides expert analyst and management personal who are agile to specific needs and volumes and replaces the need for full time employees (FTEs). The managed service is a one-stop solution and is available immediately. Lysis Financial will be responsible for all sales and marketing activities and will also provide front line support for users.
Jon Sweet, CEO of Lysis Financial commented, “In a time when everyone is under extreme pressure to control costs, meet stringent regulatory directives and improve the overall customer experience, we believe the CLM managed service is a major step forward for the industry. Our customers will benefit from the combined expertise of two industry leading teams who have the skills and experience necessary to satisfy the ongoing regulatory changes and, as importantly, it will enable users to 'future proof' their businesses."
Jon continued. "Before launching our managed service offering we conducted a thorough review of other CLM providers in the market. We selected the iMeta platform for a number of reasons; it's modern architecture means it is a highly configurable solution and can easily scale in line with a client's business growth. Their proven track record and excellent customer references were also key factors in our decision making process."
George Collier, Sales Director of iMeta Technologies, said, “We are delighted Lysis has chosen iMeta’s CLM platform as the technology partner to power and underpin their industrial strength managed service. We look forward to collaborating with the Lysis team to successfully deliver this service to the financial community.”
To further explore the regulatory market, tackle the issues and analyse how this managed service can deliver significant benefits to a range of financial institutions, Lysis and iMeta have produced a detailed strategy paper, ‘Effective Client Onboarding and Client Lifecycle Management - The stakes just got higher’. The paper will be available on 15 June 2017.
The Lysis group includes Lysis Financial, which provides strategic expertise, change management and project execution services to senior compliance, operations and IT management within financial firms, Lysis Operations, which focuses on AML & KYC processes and people, and Lysis Academy, which provides AML, KYC and Governance, Risk and Compliance training.
iMeta is a leading provider of Onboarding, Client Lifecycle and Master Data Management software and services; delivering solutions to the global financial services industry. iMeta Technologies enables organisations to fully automate and manage the complex regulatory and operational data required to transact with their customers through the iMeta CLM platform. The system complies with KYC and AML requirements and more recent regulatory demands such as MiFIDII, DFA and EMIR etc.