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KPMG, a Canada-based accounting company, has launched a cloud-based platform KPMG Smart Customer Due Diligence (CDD), that optimises CDD business operations.
CDD and KYC are resource-heavy middle and back-office functions often managed without connectivity to sales and customer relationship management systems. These challenges persist across onboarding, periodic review, ongoing monitoring and remediations in the financial crime space.
The new solution uses third-party integration as a standard and provides granular management information and audit trail. As a result, the toolkit can handle the CDD end-to-end journey, driving efficiencies and headcount reduction.
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