Financial Institution Goes From Laggard To Leader In Anti-Money Laundering Compliance

The Defining Moment

A Major Bank was failing to comply with new Anti-Money Laundering Legislation and was on the cusp of regulatory action. A major stumbling block was that to comply, front-line staff would need to incorporate new ways of working into how they interact with customers, risking incurring relationship damage as a result. No one, including an army of change agents dedicated to this initiative, knew how to turn around the situation that should have been resolved years earlier. They lacked alignment in people, processes and systems.

The Approach

The SVP leading AML compliance brought us in to conduct 2 Syntegrations on how to continue to deliver great customer service while changing behaviors and introducing technological and process change to meet with compliance requirements.

The Results

The bank quickly formulated its short-term plan for how to comply, including what to do with back-end legacy systems and what to do in the front-line. The Bank became an industry benchmark for AML compliance.

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