Case study #4 Corlytics for a merchant bank
CLIENT:
Arbuthnot Latham, a London- based private and merchant bank, was experiencing significant business growth. To improve operational efficiency, their operational risk team decided to simplify and automate policy management and distribution. This change aimed to better inform and engage the bank’s expanding workforce while reducing non-compliance risks during their growth journey.
SITUATION:
With growing regulatory challenges in financial services, ensuring staff understand their obligations and can prove compliance is key to success. As our client expanded, manual processes and generic tools no longer met their needs. This prompted them to seek a comprehensive solution as a single source for all policies. They needed a platform that could:
- Centralise all group-level policies
- Reduce version control issues
- Simplify their policy framework by linking policies to categories, taxonomies, and hierarchies
- Provide advanced search tools
- Standardise policy templates for consistent approvals managed by admins
- Offer Single Sign-On (SSO) for fast, easy access
- Present attestation workflows to track staff adherence
SOLUTION:
As one of the world’s largest payment service providers, our client was determined to lead in digital innovation. To support its business strategy and leverage growth in alternative payment methods, PSD2, and Open Banking, they knew they needed to invest in technology. Seeking a solution to overcome manual processing issues, they turned to Corlytics and were impressed by its drill-down functionality. With Corlytics Regulatory Monitoring, they could quickly focus on specifics, like jurisdiction or regulator, and prioritise actions for any particular area.
This functionality is central to the Corlytics regulatory monitoring solution. It offers enriched regulatory data, including horizon scanning, and allows users to filter and analyse data, making it easy to focus on datasets relevant to each task.
OUTCOME:
After identifying and removing friction points that hampered operations, our client now has live regulatory monitoring at their fingertips, eliminating the need to sift through regulatory publications.
Specialist compliance and legal staff are now freed from manual tasks, allowing them to focus on activities that add real value to the business.
“Our client has shown an admirable preference for being ahead of the curve in technology adoption and ensuring a world class payment processing experience for its customers. We are delighted to be part of this journey and know that our client will benefit from our comprehensive, contemporary solution to assist with its current and emerging requirements in this dynamic business environment.”
Benefits
Boost efficiency with automated processes
A reduction in manual handing time locating and uploading regulatory data from regulator websites allowing staff to work on higher value activities
Reduced regulatory risk
A risk proofed operations model with reduced manual handing errors and missed publication notices and updates
Streamline governance
Increased impact assessment awareness through centralised and standarised automated processes
Solutions
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