Implementing a new financial crime platform


One of the UK’s leading banks was undergoing the implementation of a new, automated financial crime platform to improve the digital capture, analysis and processing of customer data to help the bank in the escalating war against financial crime. The bank had been dependent on aging legacy financial crime systems, that were dependent on a high degree of manual processes, were driving up costs and were making the bank susceptible to regulatory infringements.


P2 bought in a team that combined platform delivery experience and financial crime subject matter expertise. One of the first priorities was to ensure the system requirements were understood and met the business objectives of what the bank was trying to achieve.

P2 implemented a new financial crime platform with the appropriate controls and quality that was integrated into the onboarding process, to ensure it was KYC (Know Your Customer) adherent. The platform ensured that critical steps were undertaken, data was validated and high quality customer information was loaded onto the customer database for future reference.


• Automation of repetitive manual processes meant that costs associated with financial crime processes were reduced and accuracy around the processes was greatly increased.
• With new controls in place, the financial crime platform was able to assure compliance with anti money laundering regulation, helping the bank avoid infringements and the subsequent fines and reputational fall out.
• Ultimately, the new platform helped the bank become much more effective in its battle against financial crime.

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