KPMG
KPMG is a leading provider of professional services, which include audit, tax, financial and risk advisory.
The Challenge
KPMG's main objective was to ensure that clients satisfied the requirements of relevant laws and regulations, by detecting, controlling and reporting fraudulent activity within transactions. To achieve this objective they needed accurate, clean and consolidated data.
The Solution
Datactics technology was deployed to effectively analyze, re-engineer and match over 14 million records. The organization deployed a bespoke analytics program to identify fraudulent activity on behalf of its clients. The solution ‘scored’ and ‘audited’ client data against information provided by OFAC alongside internal and external information resources. This score was based on the identification of banned countries, unsanctioned persons and key terms.
The Benefits
With over 14 million records, it was impossible to audit such a high volume of data manually or by traditional database management techniques. Datactics technology vastly improved detecting, controlling and reporting of activity that maybe fraudulent. Fundamentally it safeguarded clients against prosecution and a financial penalty.
For more information please click KPMG Case Study.
