A smart approach to economic crime compliance

In today’s dynamic and unprecedented business reality — where the relentless pace of change continues to accelerate — financial institutions are enduring serious new threats to their data and operations. The search is on for enhanced Customer Due Diligence (CDD) capabilities that satisfy their fast-evolving financial crime risks and requirements.

Financial institutions need delivery models that efficiently and reliably run their compliance programs — including CDD onboarding, periodic and event-driven reviews, and remediation. CDD programs must also meet evolving regulatory requirements, support operations and technology implementation, and enhance data use to improve decision-making and customer experiences.

This report explores the role that smart technology use — and today’s fast-emerging automation programs — can play in creating a comprehensive CDD program that meets the pressing needs of today’s financial institutions. We also look to the future and explore how KPMG professionals, working with global technology leader Salesforce, are creating innovative and strategic new roadmaps for  efficiency and success.