KPMG in the UK’s AI policy platform helped a leading global bank untangle the complex world of managing risk
The challenge
The bank was looking for a way to simplify large volumes of documentation around policies and procedures and to automate its risk policy management processes.
This global bank manages and mitigates a wide variety of credit, market, operational, compliance and reputational concerns across the world. All rely on the application of clear and up-to-date risk policies and procedures that inform the decision making of the bank’s leaders and banking professionals.
However, their risk policies had become increasingly complex and difficult to access.
With the consistency of decision-making in question, the bank was vulnerable to new potential risks. The central risk team recognized that they had to act; to digitize the policies and enable colleagues to access them in a more intuitive way; and to empower leaders and professionals in navigating the complex world of risk with confidence.
The opportunity
The starting point was to conduct a broad-ranging mapping of the bank's policy landscape across its global operations.
Then, leveraging KPMG in the UK’s AI policy platform, the policies were digitized by breaking documents into constituent parts such as article text, associated business rules and data attributes that are essential for rule execution.
The application of AI helped expedite the digitization effort with the added flexibility of incorporating specialist input and refining the outputs through a "human-in-the-loop" feedback mechanism.
The outcome
The AI Career Companion chatbot analyzes and applies skills data to provide personalized career advice and identify upskilling and mobility opportunities for the company’s employees. The KPMG team helped the organization strengthen its workforce agility through large language models to infer skills from 15,000 employees. This allowed the organization to develop the more than 650,000 skills that will be required to meet their evolving business requirements.
The bank’s professionals now have up-to-date and concise information on how to apply the policies, and business and commercial decisions are now backed by a consistent application of risk frameworks and policies and regulatory and policy changes are being implement more quickly. Importantly, with simplified and digitized risk policies, the central team now has visibility on the level of policy adoption across the bank and the effectiveness of these policies in guiding decision-making.
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