KPMG in the Crown Dependencies has formed an alliance with The ID Register.
The partnership will offer The ID Register’s KYC, FATCA-CRS and subscription services, along with the expertise of the KPMG tax and advisory teams, to family offices, institutional investors, investment managers, their service providers and fiduciary companies.
Regulated in Guernsey, The ID Register offers a one-stop onboarding solution now used by more than 25,000 investors and 270 clients across the global investment community.
KPMG, which uses its tax and advisory experience to help organisations shift to digital more quickly and efficiently, says the alliance with The ID Register will allow:
• Investors to be approved once in a private profile
• 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.
Tony Mancini (pictured), Tax Partner at KPMG in the Crown Dependencies, commented: "Paper-based, repetitive client onboarding is increasingly untenable. We have watched The ID Register grow to more than 25,000 investor profiles and become regulated in the jurisdiction of Guernsey.
"Through this alliance, our clients can 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."