Failing to adhere to Anti-Money Laundering regulatory requirements or falling short of the expected standards in Know Your Customer (KYC)/Customer Due Diligence (CDD) can result in large fines and reputational damage for financial institutions. Many financial institutions are evaluating various business models. Regulatory deadlines, process inefficiencies and fragmented data are just some of the challenges financial institutions are faced with.
KPMG's KYC/CDD Managed Service provides a leading approach which combines domain/subject matter expertise, technology and data, and operational excellence to help deliver scalable and cost effective services.
These services aim to drive sustainable benefits and provide: