Thank you! We will be in touch shortly.

KPMG automates client onboarding processes

KPMG LLP, an audit, tax, and advisory firm, works with their clients to address challenges in regulatory compliance and reporting programs. KPMG has developed a managed service that changes the paradigm for satisfying regulatory compliance requirements. The platform leverages comprehensive domain knowledge and leading edge technologies to enable straight-through-processing where intelligent machines process more than 80% of the information and escalate exceptions to a small team of human operator for exception handling.

Smartlogic’s Semaphore is a key component of the KPMG platform where client information is ingested into the system once, validated and stored centrally so that it can be shared across departmental boundaries. Semaphore uses a semantic model to analyze the information from “unstructured” sources, automatically generate metadata to enrich the documents, and extract the critical facts, entities and relationships. The extracted information is analyzed by a policy engine, which applies more than 6,000 business rules that represent the relevant regulations. The enriched source documents and results are stored in a NoSQL database. An orchestration engine executes workflow processes that route exceptions to the appropriate work queue.

Customers report an 80% reduction in manual labor out-of-the box improvement to comply with KYC, FATCA and CCAR regulations and a 90% improvement with customization. In W8-BEN-E processing, clients achieve more than an 80% improvement in validation and due diligence and results are precise, auditable and transparent.

To get the full details, download our case study and watch the webinar replay.

Stay in the loop

Sign up for our newsletter to receive the latest updates, features and news on Semaphore.