AML Taskforce 2020 - Z/Yen · • Galvanize relevant Trade Bodies to not only support the...
Transcript of AML Taskforce 2020 - Z/Yen · • Galvanize relevant Trade Bodies to not only support the...
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AML Taskforce 2020
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Welcome
Alderman & Sheriff
Professor Michael Mainelli Executive Chairman
Z/Yen Group
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16:00 – 16:05 Welcome
16:05 – 16:10 Introduction & Schedule
16:10 – 16:20 Case Study
16:20 – 15:25 Questions
16.25 – 16.30 Next Steps
AGENDA
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Introduction
Graeme Gordon CEO Praxity
Chair of FSG AML Task Force
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FSG AML Task Force “Purpose”
• To Strengthening and Simplifying Anti-Money Laundering within the UK
• The City of London & UK is “Open For Business”
• Engage with major financial Institutions, ensure they realise the benefits to themselves of implementing revised AML procedures, if not already in place
• Galvanize relevant Trade Bodies to not only support the initiative and promote it well beyond the end of this year.
• Galvanize all the Livery Companies of the City to promote and support the initiative in the best ways they feel they can • Webinars • Website • Seminars • E-Newsletters
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23 Mar Webinar Best practice AML implementation
TBD May Webinar Government View
TBD Jun Round Table Clarifying The Issues
TBD July Webinar Simplifying The Processes
TBD Aug Webinar Change The Culture
TBD Sep Seminar Lessons Learned
TBD Sep Launch Protocol, Sign-Up
2020 SCHEDULE
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Best Practice on AML Implementation
Natasha Vernier Head Of Financial Crime,
Monzo Bank
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Hello, we’re Monzo
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A bank that lives
in your phone
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We’ve built it from the ground up
with our own tech stack
and a full banking licence since
2017
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We’re the fastest growing bank in the
UK with over 4,000,000 customers
and over 40,000 people join every
week
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Our mission is to make
money work for everyone
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Making Money Work for
Everyone
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First and foremost, a bank
We were once a start-up, we were once a fintech
— we are now a bank
1. Compliance with all relevant regulations
2. The best experience for our customers
3. What is right for the company
In that order.
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● What does the law actually say?
● Where can we make things easier?
● How can we consider everyone?
First principles thinking
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📋
What does the law actually say?
2+2 checks All the questions Risky business
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⛰
⛰
📲
Where can we makes things
easier for customers?
In-app Hard work
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⛰
♀
⛰
How can we consider everyone?
Boat life Trans-accepting
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● Have conversations about technology - it all
comes back to this
● Think about your app as a product, like Uber,
Deliveroo, Instagram etc...
● Really read the regulation. What does it say
versus what does everyone else do?
● Automation and efficiency to reduce cost and
improve customer experience
Suggestions for you to take away
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Thanks!
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23 Mar Webinar Best practice AML implementation
TBD May Webinar Government View
TBD Jun Round Table Clarifying The Issues
TBD July Webinar Simplifying The Processes
TBD Aug Webinar Change The Culture
TBD Sep Seminar Lessons Learned
TBD Sep Launch Protocol, Sign-Up
2020 SCHEDULE