KPMG in the Crown Dependencies and The ID Register today announce that they have formed an alliance.
The combination of The ID Register’s ‘one-and-done’ KYC, FATCA-CRS and subscription hub and the expertise of the KPMG tax and advisory teams makes a compelling offering to family offices, institutional investors, investment managers and their service providers, and fiduciary companies.
Regulated in Guernsey, The ID Register is an efficient solution to the longstanding problems of analogue onboarding. The ID Register already offers investors streamlined subscription, KYC and FATCA-CRS services to the highest global standards and is used by over 25,000 investors and 270 clients as the onboarding authority across the global investment community.
KPMG leverages its tax and advisory experience to help organisations shift to digital and grow more quickly with lower risk and smoother client onboarding. Covid-19 has tested traditional operating models and accelerated this transformation. KPMG’s alliance with The ID Register now allows:
- Investors to be approved once in a private profile so increasing privacy and eliminating hassle;
- Funds and Trusts to offer clients a smoother onboarding experience at lower cost;
- Service providers to rely on The ID Register, reducing risk, overheads and barriers to growth; and
- All delivered alongside KPMG’s wider advisory capabilities.
Tony Mancini (shown to the right in the main picture), Tax Partner at KPMG in the Crown Dependencies said: “Paper-based, repetitive client onboarding is increasingly untenable. We have watched The ID Register earn the trust of clients, grow to over 25,000 investor profiles and become regulated in a sophisticated and mature jurisdiction like Guernsey. Through this alliance, our clients can now benefit from a smoother, more cost-effective onboarding service fit for purpose in the 21st century, allowing them to focus on growing their businesses and serving their investors and clients”.
Tim Andrews (shown to the left in the main picture), Founder of The ID Register said: “KPMG immediately grasped our concept and supplied both brainpower and practical support as our platform has evolved and grown. Digital is good. Hub is better. Our regulated digital hub is now the elegant and obvious solution for smooth and compliant client onboarding around the world. KPMG’s broad expertise and global reach make Tony and the team ideal partners as, together, we build the trusted hub of the global investment community”.