The KPMG Customer Due Diligence Navigator provides a holistic approach to highlighting the challenges of clients’ Customer Due Diligence function and helps to identify opportunities for solving them.
Know Your Customer (KYC) / Customer Due Diligence (CDD) is a core financial crime requirement. Despite huge levels of investment, poor execution remains the reality for many organizations. It most often comes down to its multi-faceted and cross-functional nature – the complexity of execution makes it difficult for firms to identify where their problems lie, and what the solutions might be.
Typical operational issues can include:
Resulting in low quality financial crime decision-making; costly remediation and regulatory fines; sub-optimal through-put; detrimental impact to customer experience, reputational damage and wider social harm.
The KPMG Customer Due Diligence Navigator provides a holistic approach to highlighting the challenges your CDD function faces and helps to identify opportunities for solving them in a simple and organized way:
KPMG has leveraged its experience of working with clients around the globe to bring structure and clarity to this challenge. The KPMG Customer Due Diligence Navigator is a method of approaching this challenge, and brings focus to maturity opportunities. It embraces the key components of effective KYC/CDD, while considering their sequencing and inter-connectivity. Behind all of this sits defined benchmark standards and industry-wide knowledge of CDD maturity.
The KPMG Customer Due Diligence Navigator can rapidly bring clarity to the actions required to transform your KYC/CDD operations. Identified benefits vary by client, but operational efficiencies of 20-35% are not uncommon. These measures can result in higher quality financial crime decision making and initiate an enhanced customer experience, CDD operational excellence, enablement of commercial growth and success:
Implementing scalable and efficient solutions to help financial institutions achieve optimized Know Your Customer and Customer Due Diligence.
Implementing scalable and efficient solutions to help financial institutions.