One of the nation’s top 5 banks received a consent order from the United States Office of the Comptroller of the Currency (OCC) requiring them to improve their Bank Secrecy Act/Anti-Money Laundering (BSA/AML) program. As the bank began remediation of over 300,000 customers, they wanted to develop, communicate, and implement standard processes. Each of their 23 Lines of Business (LOB) had slightly different business models, systems, vendor teams, and organizational structures, which made standardization difficult. In addition, the large size of the project made internal communication a challenge. They needed to create a centralized middle office to serve as an intermediary to help solve these issues.
CapTech provides data analysis, data transformation, and data analytics that can reduce manual processes and increase efficiency.
Enforcement Action Experience
Our experienced consultants define action plans, execute remediation programs, and conduct effectiveness testing to help manage enforcement actions.
We can help you develop more timely alerts, model monitoring, automate and in-source manual processes, and re-engineer current state processes to mitigate compliance spending.
We can assess if regulatory technology is right for you and then quickly help integrate the right tools with your existing internal procedures and systems.
Project Management Office + Execution
CapTech offers PMO processes and playbooks, executive reporting (internal, board, and regulatory), and organizational change management.
Know Your Customer (KYC) Expertise
We partner with you to provide an efficient and holistic enterprise-view of the customer and design and implement customer models that deliver the KYC data you need.