KPMG has picked up a minority stake in Netherlands-based robo-advisor solution developer AdviceRobo. ?
Through this new partnership, KPMG will be able to support its global clients with this risk management.
AdviceRobo will gain access to KPMG risk management, regulation, and data and analytics experience, as well as its global network. KPMG Financial Services partner Erik Rood will lead the cooperation of the companies.
AvdiceRobo provides financial services with AI technology to analyse non-financial data, which includes the behaviour of potential borrowers to bolster their risk management. The platform is used by banks to improve credit scoring, monitor risk and improve predictive analytics. Insurers use the solution to advance claim and fraud predictions and psychographic scoring.
The platform currently has clients in 10 countries spanning Europe and Latin America, the company said.
KPMG head of advisory Rob Fijneman said, ?We are very pleased that the alliance with AdviceRobo will enable us to add these types of AI-based predictive behavioral models to our services for lenders.
?AdviceRobo models will enable lenders to improve their credit risk models and thus reduce costs, especially in areas where data is the limiting factor. In addition, it allows lenders to considerably increase their acquisition of new lending clients.p>
Earlier in the year, KPMG Singapore partnered with Lombard Risk to launch a new integrated regulatory solution. The service will empower financial institutions to automate and fulfil mandatory regulatory reporting obligations in an agile, accurate and cost-efficient manner.
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