Luxembourg, Luxembourg – {21 November 2018} – KPMG Luxembourg has announced the launch of a new tool created by technology provider Governance.com. in collaboration with KPMG ‘s subject matter experts.

The tool will help regulated companies manage their data, documents, and processes, enabling them to smoothly comply with all applicable regulations.

Christophe Diricks, KPMG Partner and lead on the project, explains: “Governance.com, with industry input from KPMG Luxembourg, has devised a set of modules that now form part of our technology-powered services. These modules are customised to ensure maximum effect, and can be integrated into the client’s technology platform. Essentially, the tool safeguards clients and saves huge amounts of time: with it, compliance is no longer a matter of manual checks. Rather, the tool proactively examines processes and tasks and flags any potential gap. This capability will become a huge asset to companies navigating the challenging and dynamic business environment of today.”

Bert Boerman, Governance.com CEO expands: “With growing regulation, the cost of compliance for both small and large fund managers has exploded. And most companies don’t even recognise the time spent on manual regulatory oversight tasks as a true cost. This is where regtech assists; to provide the secure tools needed to simplify and automate the process in full transparency. But regulatory compliance also requires expertise in many areas. By teaming up with KPMG we can provide clients with end-to-end solutions that ensure a compliant and efficient processes.”

David Capocci, Head of Alternative Investments at KPMG Luxembourg adds: “Asset managers are facing growing challenges in meeting requirements from regulators, clients and investors. We believe that, by developing smart operational methods and tools that use leading-edge technology to provide pragmatic help, we can add real business value to our clients. Building alliances is one of the foundational layers in our mission of offering the right services in terms of innovation, quality, and trustworthiness.”

Governance.com is a Luxembourg-based regtech. Created in 2011, the startup has come a long way after winning the 2016 edition of the Fintech Awards Luxembourg and having subsequently been included in the FinTech50, the European powerlist. In 2016, they raised €2m in funding from a group of investors. The company is in the process of raising a Series-A capital round to advance its international expansion.