Banking

To drive innovation, manage risk, and maintain competitive advantage in the financial sector, it is essential to harness the full potential of data and artificial intelligence. Understanding both current data capabilities and future possibilities is key to transformation. With deep professional insight into financial services, we help organizations unlock the value of their data and apply AI-driven solutions to critical business challenges.

We deliver actionable analyses and intelligent systems that support smarter decision-making, enhance customer experiences, and improve operational efficiency. An external perspective can uncover hidden patterns, identify inefficiencies, and guide strategic digital investments. By combining technical expertise with sector-specific knowledge, we help financial institutions make data/AI-informed decisions that foster growth and resilience.

We have extensive experience applying AI and data strategies that empower our clients with clearer insights, more accurate forecasting, and automated processes. Working in close collaboration, we tailor solutions that support innovation and strengthen decision-making across the organization.

We can help you with:

• AI strategy and governance rollout 
• GenAI-based implementations of domain specific use cases
• Advanced data analytics and predictive modeling
• Customer segmentation and personalization
• GenAI-based risk management and fraud detection solutions
• Automation of financial and compliance processes
• Building data platforms and governance frameworks.

We assist with investment tax due diligence, side letter negotiations, spot checks, tax reporting and responsible tax.

Many banking processes still rely heavily on manual intervention from employees or customers. For example, loan applications – particularly for businesses – often involve lengthy documentation and manual review. In some institutions, over 90% of loan applications are still handled partially or entirely by employees.

The opportunity to digitalize these processes is significant. Yet, few banks have implemented true end-to-end digital workflows across business domains. This is often due to legacy systems, siloed operations, or lack of cross-functional alignment.

At KPMG, together with our alliance partners, we help banks unlock the full potential of digital transformation – streamlining domain-specific and cross-functional processes to improve efficiency, reduce costs, and enhance customer experience.

We can help you with:

• Implementing automated customer support
• Enhancing data analytics to provide a better banking experience
• Streaming loan application processes with digital tools
• Automating compliance and reporting tasks
• Integrating digital solutions for more efficient operations.

Banks are reimagining their finance functions to meet evolving regulatory demands, boost efficiency, and become strategic drivers of value.

Our finance transformation services for banks are designed to support finance organizations in delivering this change in footprint, through streamlining financial processes, optimizing productivity, and driving strategic decision-making. With deep sector expertise and a strong foundation in risk and compliance, we deliver tailored solutions to improve regulatory compliance, operational performance, and strategic alignment.

Our collaborative approach, leading software partnerships (e.g., SAP), and AI-first delivery model, make us a trusted partner when modernizing finance systems and improving decision-making processes.

We can help you with:

• Setting a finance strategy and robust target operating models
• Enhancing financial reporting and establishing compliance (e.g., CRR III, IRRBB, ESG, etc.) 
• Establishing sustainable cost management practices and improving cost efficiency (e.g., global benchmarking services, etc.)
• Providing risk management support and governance solutions
• Establishing a risk resilient organization and optimizing working capital (e.g., manage cash, liquidity, working capital, and solvency requirements).

We support financial services clients by providing a complete range of internal audit services tailored to client needs and covering the full internal audit process. 

In the financial services industry, the internal audit function plays a critical role as the third line of defense by providing independent and objective assessments of the organization's risk management, control environment, and governance processes. By assessing and enhancing internal controls and governance practices, the internal audit function contributes to the organization's overall success, integrity, and accountability. 

We can help you with:

• Upscaling of internal audit transformation programs  
• Developing and implementing target operating models
• Performing independent quality assessment of the internal audit function against requirements and expectations set by the Board and senior management, in line with IIA standards and the Internal Audit Methodology
• Updating internal audit manuals, policies, and procedures, assessing IT needs with AI-enabled solutions, preparing and reviewing annual budgets, and designing templates for audit reports, programs, and management communication, as well as Audit Committee follow-ups
• Supporting in conducting internal audits (outsourcing or co-sourcing) 
• Performing risk analyses and risk assessments to direct the internal audit plan.

In an era of complex business activity and increased scrutiny, compliance functions within the financial sector are faced with the critical task of ensuring adherence to laws, regulations, guidelines, and specifications relevant to their operations. 

With the specialized nature of regulatory compliance in the financial services industry, we leverage our extensive experience in assisting banks and other financial institutions to offer tailored solutions that address specific industry challenges.

We can help you with:

• Interpreting regulatory requirements and implementing change (e.g., GDPR adherence, third-party risk management, conduct risk and investor protection, market abuse monitoring, etc.)
• Upscaling of remediation or transformation programs (e.g., providing project managers, business analysts, and subject matter experts)
• Process mapping, optimizing operations and automating flows (e.g., innovative technologies and machine learning)
• Developing and implementing target operating models
• Performing risk analysis and risk assessments
• Testing control systems and performing gap analyses
• Providing data management and data governance support
• Providing comprehensive support throughout the full annual lifecycle of the compliance function.

Our team of specialists with broad experience within the banking sector can assist with industry specific tax advice and tax compliance. We can advise on tax in relation to product offerings to clients both in Denmark and abroad leveraging from our close cooperation within our Global KPMG financial services network, we can advise on tax impact of acquisitions and re-organizations and we can provide assistance on reporting obligations within the tax and VAT area and advise on implementation of the extensive new and changed regulations in this area.

Our services within this industry include the following:

• Tax qualification of products and investor tax guides
• Investment Fund structuring and re-structuring incl. analysis of investor tax impact
• Tax reporting to Danish tax authorities both under Danish rules and under FATCA, Common Reporting Standard, DAC6 and Qualified Intermediary regimes
• VAT and CIT compliance and assistance with tax audits
• Withholding tax compliance and reclaims
• Special payroll tax
• Tax advice related to cash pooling arrangements
• Tax and VAT advice related to leasing activities
• Transfer pricing advice and compliance assistance