KPMG Launches Advanced Analytics for Institutional Crypto Market - The Industry Spread

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.


KPMG Launches Advanced Analytics for Institutional Crypto Market

June 27, 2020

KPMG has launched patent-pending suite of advanced analytics capabilities, built on leading crypto asset data and technology products to streamline the ability for financial services companies and fintechs to offer crypto asset services on an institutional scale.

Going by the name of KPMG Chain Fusion, the service helps clients address complex, foundational problems facing organizations competing in the institutional crypto asset market.

The technology infrastructure, operational mechanics, and inherent risks are fundamentally different from traditional systems, which presents significant challenges to accurately and completely aggregate data from different technology environments in order to meet expectations, including for customer account management, anti-money laundering (AML), and security. 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.

Sam Wyner, director and co-lead of KPMG Cryptoasset Services

Sam Wyner, director and co-lead of KPMG Cryptoasset Services, said: “Regulators and auditors expect fully implemented controls and processes within and across a cryptoasset business – whether they are crypto asset or traditional systems or anything in between.  If you are a blockchain or digital asset-based business, you will have separate systems for everything.

“There is a fundamental difference in technologies required to integrate– whether it be a permission or permissionless blockchain or a traditional front, middle and back-office system”.

KPMG Chain Fusion helps companies to achieve seamless and trusted adoption of core crypto business capabilities, enabled by leading technology products for data, custody and infrastructure. The core also addresses cryptographic proof of assets under custody, deployment, and integration of core custody capabilities such as multi-party computational cryptoasset wallets, and transaction monitoring for AML.

“Leading crypto-asset technology solutions can address process and control requirements within their own systems, but the greater challenge is making sure systems can work together, with all the right processes and controls in place between those systems. KPMG Chain Fusion addresses those challenges by bringing these systems together with the required processes and controls under one roof”, Wyner added.

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