Managed services for financial crime compliance

As digital transactions increase, so do the opportunities for financial crime, and that means more regulatory scrutiny on your procedures. How can you meet your Anti-Money Laundering (AML) compliance obligations at a lower cost, while also protecting your reputation, inspiring stakeholder trust, and improving the customer and employee experience?

This is the opportunity for today’s compliance organizations, but it may seem like the more resources you allocate to it, the more cumbersome your processes become.

That’s because AML compliance is not just a capacity problem. It’s also a data problem.

Managed services for AML

KPMG Managed Services provides financial crimes solutions by combining deep domain knowledge, data management, analytics and advanced technology to digitize policies, automate processes, and monitor high volumes of transactions—all packaged in a multi-year subscription offer with outcome-based pricing.

By taking responsibility for your AML operations, our managed services enable you to:

• Improve data quality and reduce false positive alerts
• Automate data collection from multiple sources to verify and enrich customer profiles
• Better understand your customers and improve their experience
• Expedite transaction review
• Increase process efficiency
• Reduce the cost of compliance
• Earn the trust of regulators, customers and other stakeholders

Drawing from market-leading expertise in financial crime and compliance, KPMG Managed Services can cover AML-related operations in areas from regulatory remediations to loan processing to surge support. Our services include:

• Know Your Customer On Demand
  When it comes to Know Your Customer (KYC) compliance, operations are often fraught with challenges, from fragmented data and non-standardized processes to high-volume manual activities and changing regulations.
  
  Learn how Know Your Customer on Demand can bring a new approach to your KYC operations, delivering significant cost savings, faster case resolution, and higher stakeholder trust.
  
  
• Transaction monitoring
  From digital wallets to crypto to cross-border payments, digital innovation is changing the way transactions are executed—and also the opportunities for compromise.
  
  As a result, regulations are becoming increasingly strict, and transaction monitoring is a growing company expense. In many financial institutions, for example, about 10 percent of transactions are flagged each month for potential suspicious activity, requiring time-consuming investigations that add nothing to the bottom line.

KPMG Managed Services can take responsibility for the operational aspects of transaction monitoring, while you retain decision-making authority and responsibility for Suspicious Activity Report (SAR) filings. We offer a detailed, repeatable process that both our clients and regulators can trust, including:

• Real-time detection of transactional anomalies
• Smart alert classification for faster, more accurate review
• Data-driven analytics and tailored insights
• Improved compliance at a lower cost.

Benefit from the right combination of capabilities

In addition to managed services for transaction monitoring and KYC, we provide related services for:

• Sanctions screening
• Regulatory reporting data testing
• Cyber security
• Model risk management
• Loan processing
• Controls on demand