PROJECT SUMMARY

Launch of direct bank operations

German retail direct bank

Setup of the operations for a retail internet savings bank aimed at the German market.

Challenge

  • Ambitious planning
  • Multiple internal and external stakeholders and suppliers
  • Local market regulations
  • Critical areas

Approach

  • Setup of call centre, desktop environment and facilities at the main location and definition of a business continuity plan and arrangement of workplace recovery
  • Performing local vendor due diligence and arrangement of service level agreements and contracts
  • Definition of work instructions and designing and sizing of required organization (incl. definition of the logical access control framework)
  • Implementation of all compliance measures (client scan (EU, OFAC and PEP lists), Know Your Customer, Customer Due Diligence), Transaction filtering/monitoring, FATCA and SEPA adherence)

Impact

  • Successful go-live with limited after care

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Belgian retail direct bank

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