KPMG Smart CDD - Onboarding, Know Your Customer (KYC) and Customer Due Diligence technology / Powering your customer compliance journey
CDD and KYC is complex and cumbersome, often managed by resource-heavy middle- and back-office functions without connectivity to sales and customer relationship management systems. Lack of automation requires high numbers of employees and time spent on customer due diligence. These challenges persist across onboarding, periodic review, ongoing monitoring and remediations in the Financial Crime space.
KPMG has combined its expertise in customer due diligence, technology and operational service delivery to create a data-led approach to CDD on a leading CRM platform, Salesforce, which delivers a customer centric digital experience to perform;
- Onboarding due diligence,
- Periodic reviews,
- Remediation and
- Ongoing monitoring, all in one place.
An automated, data-driven solution
Our ‘out of the box’ solution is compliant with regulatory requirements and pre-configured to industry standards. The platform uses third-party integration as standard, provides granular management information and a robust audit trail, with clear hand offs and escalations. As a result, the platform can handle the entire CDD end-to-end journey and drives efficiencies and headcount reduction. Key components of our proposition include:
Financial Crime subject matter experts – Our Financial Crime subject matter experts will support clients to ensure alignment of Anti Money Laundering (AML) policy with Regulatory requirements, and advise on customer risk assessments and client risk portfolio to ensure they are being worked effectively.
Smart CDD tooling – Including as standard:
- Salesforce workflow
- Customer portal & omni-channel customer contact capability
- KPMG proprietary and 3rd party data enrichment and screening technology
- Industry-standard modules
Managed Services wraparound – to take on and run the outsourced operation using skilled associates, operational experts and KPMG global delivery centres.
The benefits of KPMG Smart CDD
- A data-led approach to give a 360-degree view of the customer with robust audit trail and full lineage to policy, to evidence decision-making to the Regulator.
- Improved customer experience through enhanced digital outreach process, omni-channel capability and a dedicated point of contact.
- Cost certainty through an ‘out of the box’ solution, compliant with regulatory requirements and pre-configured to industry standards.
- Our proven methodology allows for a rapid build and mobilisation period. This, combined with streamlining of customer outreach processes to reduce response times, shorter onboarding timeframes and increased onboarding success rates, helps accelerate the end to end lifecycle.
- Quality checking and quality assurance built into the smart workflow, leveraging a industry-leading quality framework and deep Financial Crime expertise to drive value.
- Integration and configuration with systems for better decision making.
Find out more
We have the experience and credentials to support you with transforming your Customer due diligence operations. For a short demo of our technology, please click here.
Or for a more detailed demonstration and discussion about how KPMG Smart CDD might work for your organisation, contact the team.
Download our Smart CDD solution guide