FINTRAIL enables a US-based capital lending firm to safely and compliantly expand into the UK market.
Context
FINTRAIL was engaged by a large US-based capital lending platform to help with their expansion into the UK market, including the development of AML policies and procedures and mapping of UK regulatory requirements and priorities. This included:
Updating the AML policy and procedures in line with UK regulations
Highlighting gaps in the current framework vis-a-vis market standards
Providing a roadmap of priorities for pilot and launch
Solution
FINTRAIL reviewed a collection of the client’s existing AML policies and procedures (including identification and verification requirements, alert handling procedures, document verification procedures, and managing fraud incidents) and suggested amendments to bring them in line with UK AML regulatory expectations.
FINTRAIL also developed the client’s UK onboarding and customer due diligence procedure to account for local regulatory and operational nuances. We held debriefing sessions with the stakeholders to explain the differences in the UK regulatory landscape and how to practically implement the requirements for pilot and launch.
This also included a regulatory mapping exercise highlight the key AML requirements in the UK and a documented roadmap of priorities to ensure the client is operational and compliant for launch.