Product Services

KPMG’s comprehensive Product Services offering provides assurance that the customer remains at the heart of your business, while also ensuring product efficiencies and robust oversight.  This includes:

KPMG has designed a bespoke methodology called the Product Assurance Framework, which will arm organisations with tools and techniques to control their product suite and maintain regulatory compliance.  It will also help to reduce the risk of future restitutions and enforcement action, provide organisations with a comprehensive understanding of their products and underlying control environment and reduce the time both 1st and 2nd line spend on assuring products through the introduction of automation and preventative controls.

Using this bespoke methodology we can assist you with developing a robust Product Assurance Framework which will enhance the current product review processes in place, by moving to a data-led and highly automated product review process which will be preventative in nature and move away from a labour intensive assurance approach.

By considering compliance as part of your product design, KPMG can help you  identify early warnings of product issues: reducing the potential for future restitutions, increasing operational efficiencies and driving better outcomes for consumers.  Firms that take the opportunity to update their approach are likely to make significant progress within their Product Oversight and Governance activities and reduce the risk of negative outcomes for consumers.

KPMG aims to provide firms with a comprehensive understanding of the challenges surrounding products and their underlying control environment, introducing automation and preventative controls during product design.  In the current environment, firms are striving to reduce costs.  Our approach aids this by reducing the manual effort required in assuring products and building data-oriented tools that place consumers at the centre of product design.

KPMG can provide you with a step-by-step Product Simplification process that identifies, measures and realises benefits with a consumer, regulatory and operational lens.  

Firms can reduce the operational costs of servicing their products, meet changing customer demands and help drive sustainable growth by engaging in Product Simplification.  Firms require a detailed understanding of their product suite to remove unnecessary complexity.  We will help your firm by establishing a clear plan that will ensure that the right decisions are made regarding your product suite and that the appropriate Product Oversight and Governance requirements are maintained.

If you have any queries related to product assurance or simplification, please contact our team below. We'd be delighted to hear from you.