Operational Model Review – Business Current Account Opening and KYC Periodic Review​

​​First Derivative acted as the remediation, transformation and implementation partner to a UK bank, to embed a new account opening framework – enhancing the customer journey and meeting regulatory expectations.​​​​​​

• FD supported the client with the refresh of 2,400 client records including outreach, data entry and document upload​
• Review and validate transactions made via the Post Office, applying the clients risk profile.​
• Manage a queue of 1,800 client requests for new accounts / account updates.​
• Developed a future state Operating Model across group business account opening and KYC Refresh.
• A detailed tech assessment was carried out to encourage and establish digital journeys for clients.
• Assessment of FTE, build out of job specifications and supporting the interview process where headcount increase was deemed required.

• Delivered a streamlined, customer focused account opening process that met regulatory standards and enhanced operational efficiency.​
• Client records fully refreshed, digital journeys introduced, and account management queues cleared, accelerating onboarding and reducing delays.​
• Future state model positioned the bank for scalable growth and long-term resilience.​