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KPMG rolls out crypto asset management tools

Tuesday 23 June 2020 09:50 CET | News

KPMG has developed a suite of tools that aims to assist both traditional financial companies and fintech startups offer tightly managed crypto-asset services.

The new KPMG Chain Fusion product lets customers manage their data in compliance with regulations around financial reporting, security, and processing needs. The suite allows institutional clients to collect and organise data from both traditional systems as well as blockchain databases.

Chain Fusion’s core service essentially creates a standardised data model for all transactions that an organisation conducts, regardless of whether they are an on-chain/off-chain blockchain transaction or a traditional fiat one, according to CoinDesk.

This allows these entities to run ‘advanced analytics’ on the data. One example is ensuring that the data on a blockchain matches the information recorded on an entity’s books. Other challenges included finding ways of being able to pull data from databases, including blockchain information, and still be able to run queries.

KPMG declined to say how many companies have already begun using Chain Fusion.
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Keywords: KPMG, financial companies, startups, fintechs, advanced analytics, blockchain, crypto assets, auditing
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies






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