Delta Capita and JJCFinTech form KYC and AML JV

Source: Delta Capita

Delta Capita, the international business & technology consulting and managed services firm, has announced a strategic joint venture partnership with JJCFinTech, a London-based FinTech consultancy specialising in KYC/AML, Regulatory, Tax and Compliance services.

Under the arrangement JJCFinTech has become a JV partner to Delta Capita’s KYC services business that was established last year through its strategic alliance with Fenergo, the industry leading Client Lifecycle Management technology provider.

The service curates the best CLM, robotic data sourcing, Screening, Analytics and Transaction Monitoring solutions in a coherent ecosystem. This avoids the huge investment and long lead time of banks doing it themselves. Our pre-integrated platform and managed service operations allow clients to quickly address the pain points in their KYC and AML processes to improve compliance, digitise the customer journey and optimise their operations and technology in a commercially attractive way.

Jon May, JJCFinTech CEO joins Delta Capita’s KYC business Board of Directors as COO. May is an acknowledged industry Regulatory Compliance expert having previously held the role of CEO at KYC.com, MD Group Head, Regulatory & Compliance Services at IHS Markit and prior to that several senior roles at Goldman Sachs including MD Global Head of Client Onboarding and Client Data.

Commenting on the partnership, May said “This partnership offers something different to firms that are looking to transform their KYC/AML operations and technology without the burden of bringing together the components themselves. Our managed service solution is a pragmatic approach aimed at banks and investment firms that want a standardised platform quickly. We are blending JJC’s practical experience of having run KYC/AML functions at the industry’s leading banks, with Delta Capita’s strong track record of delivering and operating managed services for tier 1 firms and the Plato consortium.”

May added: “Put simply, rather than firms carrying the cost of their KYC and AML systems and operations, we will host and operate them as a managed service on our clients’ behalf. The policy, processes, rules and data model are standardised based on our experience of working with 20+ banks. This allows us to mutualise the cost and deliver KYC and AML processes for our clients at a reduced price point. Delta Capita has extensive experience of successfully deploying this model in the post-trade space and we are making the logical progression into pre-trade functions.”

Joe Channer, Delta Capita, CEO & Founder, added "The Joint Venture brings additional expertise and acceleration to our KYC services business. JJCFinTech’s experience in the KYC space is unrivalled, with their knowledge and contribution to the strategic direction and management of the business, we are positioning ourselves for success.”
Channer added: “Banks can no longer afford to act in a proprietary way when investing in non-differentiating common functions such as KYC. Delta Capita’s KYC service offering gives Clients access to an industry standard platform powered by leading technology on an outsourced operating model. Unlike other market offerings we are looking to provide a complete end-to-end solution that really takes the management burden and complexity away from the client. We achieve this by providing compliance as a service, with flexibility to scale and ability to reduce cost through platform mutualisation.”
Delta Capita have been significantly investing in expanding their managed service product offerings in the areas of KYC, Pricing & Risk Valuation and Securities Finance, since their successful lift out of Credit Suisse's Structured Products EMEA platform in 2017, which now services several banks under a managed service model.
Delta Capita was recently ranked as the fastest growing FS consultancy in Europe according to the 2018 Financial Times 1000 index. 

Contributed | what does this mean?
This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

Comments: (0)