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Xceptor, the intelligent automation platform for financial markets, and KPMG UK have joined forces to partner on tax solutions for financial services.
Working together, Xceptor and KPMG will offer a compelling combination of best-in-breed tax expertise and innovative technology that will strengthen existing tax services and future proof tax processes as regulatory and client needs evolve.
The new alliance will offer both firms’ clients improved and extended services from day one, with longer-term plans for expanded product offerings and service enhancements that successfully merge the expertise of both firms. This is particularly important as the regulatory environment continues to change, including the increased focus on moving towards a completely digitized tax process.
Xceptor’s powerful platform transforms operational tax processes, removing the burden of data management and complex, challenging workflow processes. KPMG’s expertise will strengthen and future proof this offering now, and as it evolves to meet new requirements. KPMG clients will benefit from Xceptor’s data automation and technology to accelerate the digitization of their tax processes and to streamline and improve their tax-related workflows, incorporating sophisticated AI and data automation tools.
Stuart Tait, Partner and Chief Technology Officer, Tax & Legal, KPMG UK, said:
“Our alliance with Xceptor will help to dramatically streamline and accelerate the work of our tax teams, meaning employees will have more time to spend on the most challenging client issues. The tax landscape is becoming increasingly complicated with more regulatory updates; our alliance with Xceptor will enable KPMG to help clients keep pace with those changes and provide them with cutting-edge tax solutions.”
Paul Duffy, Xceptor Tax Product Lead comments:
“Working with KPMG is an extraordinary opportunity that will facilitate incorporating their extensive, global and specialist tax expertise into our tax solution to benefit both our customers and theirs. We are creating a solution that leverages the power of our data automation platform alongside best-in-class tax expertise to streamline, enhance and future proof tax solutions for financial services. This is the ideal combination of technology and expertise and we’re extremely pleased to be bringing this to the market.”
Xceptor and KPMG expect to significantly expand the combined offering over the coming months with additional solutions for new regulations, most notably in the build-up to the widely anticipated EU FASTER directive, and over time will build additional solutions including tax information services and a corporate tax solution.
About Xceptor:
Xceptor is the intelligent data automation platform for financial markets providing data ingestion, standardization, normalization, and validation services. Catering to thousands of unique use cases, its highly configurable and enterprise-grade platform offers proprietary solutions for tax, reconciliations, confirmations, client onboarding, and allocations. Since 2003, Xceptor has been empowering businesses worldwide to trust their data and digitize their operational workflows. With offices in London, New York, Singapore and Cape Town, Xceptor serves nearly 125 clients and over 11,500 users across 60 countries, including banks, asset managers, hedge funds, custodians, and asset servicers.
About KPMG UK:
KPMG LLP, a UK limited liability partnership, operates from 20 offices across the UK with approximately 17,000 partners and staff. The UK firm recorded a revenue of £2.72 billion in the year ended 30 September 2022.
KPMG is a global organisation of independent professional services firms providing Audit, Legal, Tax and Advisory services. It operates in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world. Each KPMG firm is a legally distinct and separate entity and describes itself as such. KPMG International Limited is a private English company limited by guarantee. KPMG International Limited and its related entities do not provide services to clients.
