About Us

P2 Fin Crime 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.

What We Do

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.

Insights

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.

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.

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.

Section 166 KYC programme support

P2 were asked to support the UK Branch of a European headquartered global bank

14.02.20
The Situaton
  • The organisation had received negative feedback following a recent regulatory visit
  • As a result, it had been the subject of an FCA Section 166 review
  • A Skilled Person was on site undertaking the review.
Issues
  • Part of the regulatory assessment had identified a general weakness in the underlying quality of client files
  • The bank had made several attempts at improving files over time but had yet to meet regulatory expectations.
How P2 FinCrime helped
  • We bought in a small team to lead the Remediation activity
  • Supported the revision of the KYC business processes
  • Oversaw the upskilling of the existing contract resources to improve quality and throughput
  • Defined the key roles and responsibilities across the team in the UK and offshore hub
  • Put in place and then executed the plans to recruit the permanent team to replace the contract resources
  • Managed the assessment and interview process to fill c100 London based roles – covering all grades from Analyst to MD
  • Identified opportunities to improve the process using point solution technologies
  • Supported the evaluation of solution providers
  • Provided a central control point for KYC related issues across the programme
  • Managed the day to day risks, issues and dependencies across the programme
The Outcome
  • The organisation improved its underlying KYC Model
  • We moved from a 90% Contract to 90% Permanent staffing model in the London office
  • File Throughput was doubled over the lifetime of the engagement
  • File Quality improved and Right First-Time rates increased leading to a reduction in waste
  • The KYC BAU capability improved, and a sustainable model was put in place for the future.
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