On 23 April 2026, KPMG Luxembourg brought together compliance officers, technology providers and asset servicing professionals at its Kirchberg offices for an evening conference on the future of AML, KYC and transaction monitoring. The event, part of KPMG’s ongoing series on financial crime and regulatory change, explored how institutions are adapting their onboarding and oversight frameworks as supervisory expectations continue to evolve. Finologee’s Co-founder & CSO, Jonathan Prince, was on stage to bring the FinTech and RegTech perspective to the conversation.

The drivers behind digitalisation

The panel discussion kicked off with Valérie Hesse, Senior Vice President and Head of Transfer Agency at Northern Trust Global Services and her business case for onboarding digitalisation: time and cost savings from automating low-risk files, a risk-based approach to document requests that reduces unnecessary manual intervention, and the ability to redirect experienced staff towards cases that genuinely warrant their attention.

Jonathan also raised this point: however well-designed, a platform cannot replace professional judgement, but it creates the conditions under which judgement can be applied where it is needed. He also noted that platform quality and process discipline are equally necessary: automation applied to a weak process compounds existing problems rather than resolving them.

Adoption is not uniform

The panel’s most candid passage concerned client adoption of digital portals. Speakers noted that success rates vary considerably by investor type: sophisticated institutional counterparties, in particular, often require guided support through the process. Northern Trust designed its portal for distribution and institutional investors first, then assessed whether the model could be extended further. Prince added that Finologee approaches the same challenge by allowing institutions to offer multiple interaction modes, giving the investor the ability to choose the approach that suits their situation.

Sergio Maestri, Head of Client Integration at MUFG Investor Services, whose firm is currently implementing KYC Manager, Finologee’s AML/KYC platform, as part of its client lifecycle modernisation programme, described a blended model: shifting process burden to the investor can reduce friction, but only when the investor can clearly perceive the benefit. Speed of execution remains the primary success metric.

AI implementation: valuable on solid foundations

The three panelists were specific about where AI delivers value today and where it still falls short:

  • Hesse described AI’s near-term role in practical terms: document reclassification, data extraction from complex instruments such as trust deeds, and quality validation ahead of human review.
  • Maestri emphasised the value of moving from periodic, point-in-time reviews to dynamic, continuous risk monitoring, with automated alerts triggered by changes in ownership, directorships, addresses and document expiry.
  • Prince noted that a capable platform is itself a precondition for meaningful AI adoption. The institutions seeing real gains are those that have stabilised their foundational workflow first.He was equally clear on digital identity wallets: they will meaningfully accelerate identity verification for natural persons, but they do not resolve the broader onboarding chain. Beneficial ownership verification, source of funds analysis, sanctions screening and case-by-case risk assessment all remain outside what a wallet can address. The efficiency gain is real, but scoped.
Finologee and KPMG: a shared commitment to practical compliance

The evening reflected a collaboration between KPMG Luxembourg and Finologee that goes beyond a single event. KPMG brings deep advisory expertise across AML framework design, regulatory interpretation and risk assessment methodology. Finologee contributes the technology layer: the platforms that translate compliance obligations into structured, auditable workflows for banks, insurers and other regulated entities. Together, they address the same set of institutional challenges from complementary angles. That alignment was visible throughout the panel: in the practical framing of questions, in the focus on measurable outcomes rather than theoretical capability, in the shared recognition that technology is most useful when it is built around how compliance teams actually operate. As AML requirements continue to intensify, that kind of grounded, cross-disciplinary dialogue is where the most useful thinking tends to happen.

Institutions reviewing their AML onboarding framework can book a demo of KYC Manager, Finologee’s platform for identity verification and ongoing due diligence.

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