KPMG acquires a minority stake in Level39 member AdviceRobo

Level39 member AdviceRobo has announced that KPMG has acquired a minority stake in the business.

AdviceRobo develops technology that predicts financial risk of people and companies taking out loans. To predict risk, the company applies artificial intelligence on non-financial data including the behaviour of potential borrowers. AdviceRobo’s technology enables lenders, such as banks and retailers, to limit the risks of lending and reach a larger group of clients.

The cooperation will enable KPMG to help its clients across the world to strengthen and future-proof their existing risk management. As part of this alliance, AdviceRobo will have access to KPMG’s expertise in the fields of risk management, regulation, data and analytics. AdviceRobo will also have access to KPMG’s global network. Erik Rood, partner at KPMG Financial Services, will lead the cooperation on KPMG’s behalf.

Van Thiel, CEO of AdviceRobo said “The combination of our competency in behavioural psychology and AI software with KPMG’s expertise and experience in the field of risk management, regulations and data analytics will result in new intelligent software products for our joint global client base.  Cooperation with such a prominent player will power our further global growth.”

Rob Fijneman, Head of Advisory at KPMG said “We are very pleased that the alliance with AdviceRobo will enable us to add these types of AI-based predictive behavioural models to our services for lenders. AdviceRobo’s models will enable lenders to improve their credit risk models and thus reduce costs, especially in areas where data is the limiting factor. In addition, it allows lenders to considerably increase their acquisition of new lending clients.”

Previously, AdviceRobo was voted one of the 20 Most Innovative FinTech Solution Providers in 2018.


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