Financial services compliance

Financial institutions should continuously improve their compliance activities. In addition to increasingly complex regulatory requirements and expectations, flexibility and better harmonisation between compliance and the institution's own business strategy are also required. The earlier changes and developments in compliance are recognised and adapted, the better companies can position themselves. Financial institutions that invest in the integration and automation of compliance activities today are well equipped for the future.

KPMG offers you customised advice with sustainable and innovative compliance solutions in relation to your individual company situation. Taking into account current market trends, legal requirements and technological innovations, our consulting services cover the following areas:

Compliance management systems are designed to effectively and efficiently monitor and manage risks of non-compliance with applicable requirements. We harmonise the key elements of an effective compliance framework. These include compliance culture, compliance objectives, compliance risks, compliance communication and the monitoring and improvement of compliance. This makes your compliance management system an effective component of your organisation's own corporate governance.

In order to remain competitive, compliance activities must be increasingly effective, efficient, flexible and cost-effective. We support you in the operational integration of the compliance programme across the various areas and lines of defence of your company, in the establishment of clear responsibilities and roles and in the continuous improvement of the compliance programme.

Changing laws on money laundering and terrorist financing, increasing compliance and know-your-customer requirements as well as the call for integrity contribute to continuous uncertainty. We support you in the current challenges of successfully combating financial crime. In doing so, we pursue an integrated approach. We develop a uniform and, above all, holistic picture of risks across specialist/organisational areas, regions and processes and monitor and reduce them effectively.

Tax evasion offences are on the rise worldwide. Legislators are also increasing their focus on aiding and abetting tax evasion. We support you in implementing the compliance requirements from the various tax-related regulations such as FATCA/CRS, DAC 7 and the UK CCO. In addition to technical advice, we support you with customised implementation concepts for implementing relevant processes, IT and governance in your company.

The requirements for screening customers and transactions, but also for reporting, are constantly increasing. Digital support to fulfil applicable requirements in day-to-day compliance is essential in order to reduce costs and keep pace with new competitors such as FinTechs. Financial institutions need to become aware of their current processes and procedures at an early stage in order to identify potential for technological optimisation and thus increase efficiency. KPMG brings together the specialist use cases of banks and insurance companies with the solutions offered by innovative RegTechs, is an efficient implementation partner and offers its own digital compliance tools and solutions. We can also advise you on possible applications for the integration of artificial intelligence (AI).

We support you along the entire value chain and offer you sustainable and innovative solutions and consulting approaches focussed on efficiency and excellence in the compliance function.

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