KPMG LLP has launched KPMG Chain Fusion, a patent pending suite of advanced analytics capabilities, built on leading cryptoasset data & technology products to streamline the ability for financial services companies and fintechs to offer cryptoasset services on an institutional scale.
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KPMG Chain Fusion helps clients address complex, foundational problems facing organizations competing in the institutional cryptoasset market. The technology infrastructure, operational mechanics and inherent risks are fundamentally different than traditional systems supporting financial services companies and fintechs. These differences present significant challenges to accurately and completely aggregate data from different technology environments in order to meet internal and external expectations, including expectations for customer account management, anti-money laundering (AML) and security.
At its core, KPMG Chain Fusion leverages a structured data model to combine data originating from blockchain infrastructure and traditional systems in support of analytics for business, risk and compliance objectives.
KPMG Chain Fusion was designed to help clients address considerations from regulators across the globe focusing on the integrity of control environments to support business objectives for accurate financial reporting and technology objectives for security, availability and processing integrity across both traditional and blockchain systems.
“Regulators and auditors expect fully implemented controls and processes within and across a cryptoasset business – whether they are cryptoasset or traditional systems or anything in between. If you are a blockchain or digital asset based business, you will have separate systems for everything,” said Sam Wyner, director and co-lead of KPMG Cryptoasset Services team.
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