KPMG lays out a multi-faceted strategy to coordinate the business imperatives associated with the deployment of Digital Labor across the enterprise.
KPMG lays out a multi-faceted strategy
Inadequate automation in client onboarding is one of the biggest challenges facing the financial services industry. And it is certainly top of mind with regulators. Despite tier 1 banks spending hundreds of millions of dollars to improve their client onboarding programs, dozens of well-publicized lapses have led to fines in excess of $1 billion. Here’s the problem: Front office innovations in big data and artificial intelligence have yet to reach compliance. Traditional salary arbitrage and workflow tools have been played out.Enter client onboarding, powered by KPMG. Our revolutionary big data platform produces faster, cheaper and better data outcomes: Producing a consistent, auditable, predictable client file through the use of automation and artificial intelligence. Applying global policies and procedures systematically through the use of a metadata-driven policy engine including the best practices from KPMG.Reducing the cost of KYC and FATCA processing by eliminating the manual effort to process unstructured data.Helping aggregate structured and unstructured data holistically into a common repository that provides search, query and analysis capability that can be employed across the enterprise.