In the latest string of regtech roll outs, KPMG Australia has announced an alliance with regtech company Recordsure to bring its AI-driven customer trust and transparency solutions to Australian financial institutions.
Recordsure, which was recognised as one of the 50 emerging fintechs and founded in response to the UK’s version of APRA, the FCA, would help financial institutions capture data from customer interactions and improve regulatory compliance and the customer experience.
KPMG would deliver Recordsure within its existing suite of risk and business transformation capabilities to deliver services to financial services clients.
The firm’s national industry leader, financial services, Adrian Fisk, said KPMG first identified compliance as a pain point in the market around 18 months ago, and while they considered building their own tech solution, Recordsure had existing capabilities.
“We are excited to be introducing this pioneering regtech technology in Australia,” he said.
“Particularly at a time when interactions between the financial services industry and their customers are under more scrutiny than ever before.”
Recordsure founder, Joanne Smith, said the roll out was good news for consumers and the industry as a whole.