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P2 FinCrime is built on the foundations of P2 Consulting and FS 101, both challengers in their respective markets. By combining the Financial Crime expertise of the FS 101 team with the project and programme management skills of P2 consulting we offer the best solutions to clients without the Big 4 overheads.

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P2 FinCrime’s services span the regulatory change lifecycle for Financial Institutions – from advisory and operating model design, to systems evaluation and implementation with a heavy dose of operational performance improvement and remediation along the way.

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Understanding the challenges that keep our clients awake at night is essential. In this section we demonstrate our expertise at solving your problems. We have deep insight into the business and technology issues facing all sectors.

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Case Studies

We’ve worked with clients across the sector and have gained excellent results – but don’t just take our word for it. Have a browse through some of the work we’ve done.

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P2 Consulting

P2 Consulting is a market leading business transformation consultancy. P2 provides the entire range of consultancy services for organisations engaged in business change. P2 works in partnership with clients to turn their business ambitions into reality, bringing a unique blend of leading-edge thinking and hands-on delivery.

Client Screening Platform Replacement and Optimisation

A global bank was planning to implement an industry-leading Client Screening Platform and was now seeking to decommission the legacy system and optimise the new one.

14.02.20
The Situaton
  • Risk and Compliance leaders were keen to move to the new platform but nervous about the quality and coverage vs the legacy platform.
  • The organisation noted a high number of false positives from the test runs of the new Screening platform
  • Whilst onshore and offshore teams had improved processes the high number of false positives was limiting further efficiency gains
  • In order to reduce risk and increase efficiency it was clear a different approach was needed.
Issues
  • The organisation was not sure how to prove to all stakeholders that the new platform was “better” than the old platform.
  • The new platform allowed more scenarios to be added and there was concern that this would lead to more alerts to be reviewed
  • Resources employed to manage Business as Usual were being diverted to the initial spike and not keeping up with daily feeds
  • Throwing more resources at the backlog was not seen as the right medium-term solution.
How P2 FinCrime helped
  • Provided a framework for prioritisation of data cleansing and defined core data elements to reduce noise.
  • Introduced the concept of Targeted List Management vs screening all lists and list elements against all transaction types.
  • Worked with a secondary screening platform to identify lower priority alerts that could be archived vs presented to analysts for immediate consideration
  • Provided the proof of concept that was used to demonstrate that the proposed solution performed at least as well as the legacy system across all search parameters.
  • Supported the documentation of their approach to risk and the testing and assurance that was required to support decisions.
The Outcome
  • Even though coverage was increased headcount in the front-line teams was held due to improved efficiency
  • The legacy platform was decommissioned thus reducing cost and removing poor quality alerts
  • The new platform was able to be maintained by the operational control team vs a technology function thus reducing on-going cost.
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