A prominent UK bank specialising in SME finance sought to diversify its services by venturing into business banking. Facing the challenge of adapting to this new business model, they engaged fscom for ad-hoc specialist advice, focusing on change management. fscom played a pivotal role in advising the internal team on a key product offering.
The scope included design advice, assurance of the final design, and a thorough review of components like onboarding, transaction monitoring, CDD, payments (domestic and international), and cards. fscom also assessed operations, compliance with frameworks, operational resilience, cyber security, and fraud prevention.
The collaboration extended to calibration, setting and testing systems, and supporting an Enterprise-Wide Risk Assessment for regulatory compliance. fscom’s expertise ensured a seamless transition, culminating in a successful pre-launch review of the build and testing phase.
