Recordsure announces alliance with KPMG in Australia
Blogs on 26th April 2019
By Recordsure, 05 March 2019
KPMG Australia and regtech company Recordsure today announced an alliance to roll-out the London-headquartered startup’s AI-driven customer trust and transparency solutions to financial institutions in Australia.
Recognised as one of the 50 emerging fintechs in the KPMG and H2 Global Fintech100 in 2018, Recordsure was founded in 2013 in response to the FCA taking action against the industry on a host of issues similar to those raised in the recent Financial Services Royal Commission. Recordsure helps financial institutions such as banks and superannuation providers to capture data from customer interactions and improve both regulatory compliance and the customer experience.
Recordsure’s unique technology relies heavily on artificial intelligence and machine learning and is used by a number of UK banks, insurers and wealth managers. It provides analytics and automation tools to record and transpose speech to text, review documents such as emails and live chat and analyses the resulting data. The technology is able to highlight possible risks early, such as behavioural triggers indicating a potentially vulnerable customer. It can also be applied within remediation programs to rapidly assess customer files providing a comprehensive means to review interactions and support customers across all channels.
As the Australian implementation provider for Recordsure, KPMG will deliver Recordsure within its existing suite of risk and business transformation capabilities to deliver services to financial services clients.
Adrian Fisk, National Industry Leader, Financial Services, KPMG Australia, commented: “Across the financial services industry organisations are looking to leverage technology to improve both compliance and customer experience.”
“We first identified this area as a pain point in the market over 18 months ago. We considered building our own technology platform, but discovered Recordsure and saw an opportunity to integrate it with our risk and customer capabilities to solve some big challenges in the market. We are excited to be introducing this pioneering regtech technology in Australia. Particularly at a time when interactions between the financial services industry and their customers are under more scrutiny than ever before.”
Recordsure founder Joanne Smith said she was excited about the opportunity to deploy Recordsure’s solutions in Australia.
“The overwhelming message I have been getting is the urgent need for change, and the acceptance that throwing more people at the problems won’t solve them. Our technology is needed to reform the system. The really encouraging thing is the determination business leaders are showing in addressing the root cause of the issues rather than papering over the cracks. It’s good news for consumers and the industry as a whole.”