Deloitte and Nexxiot announce strategic KYX partnership for logistics

Enhancing global trade compliance and operational efficiency with asset intelligence

LONDON and ZURICH, Oct. 12, 2023 /PRNewswire/ -- Introducing KYX (combining Know Your Client with Know Your Cargo) by Deloitte, powered by Nexxiot. Deloitte, known for its comprehensive range of services, including audit, consulting, financial advisory, risk management, tax, and legal services, is joining forces with Nexxiot, known for its expertise in digitalizing supply chain assets, such as shipping containers and railcars. Nexxiot's network of sensors and artificial intelligence capabilities offer valuable insights into supply chain inefficiencies, reducing uncertainty and operational costs. Deloitte will play a crucial role as the integration partner responsible for delivering these digital transformations.

This strategic partnership will provide a robust, scalable infrastructure rooted in a strong commitment to regulatory excellence and trust. It leverages Deloitte's established KYC (Know Your Client) services and implementation capabilities with Nexxiot's cutting-edge asset intelligence technology and trusted CINFONI (Client Information Network Intelligence) platform. CINFONI has regulatory approval for generating, implementing, recycling, and exchanging 'Golden Records' within the Banking, Financial Services, and Insurance (BFSI) sectors.

Nexxiot CEO, Stefan Kalmund, said, "The strategic partnership with Deloitte and Nexxiot represents a significant step forward for supply chain participants. It will accelerate the adoption of fleet-wide technologies, fostering visibility, transparency, and operational excellence."

Deloitte's James Yearsley, Lead Partner for the Transportation, Hospitality and Services Sector for NSE (North & South Europe), added, "Through this partnership, we aim to set a new global standard for KYX services, benefitting all stakeholders in the logistics sector, including trade finance, banking, and insurance. Deloitte and Nexxiot offer new services based on real-time data, covering all aspects of KYX from door-to-door, internationally."

Deloitte and Nexxiot are committed to enhancing global trade compliance and operational efficiency through this partnership. It offers the logistics industry a means to embrace a future marked by improved efficiency, resilience, and integrity, all made possible by this strategic collaboration.

About Deloitte Managed Services
Deloitte Managed Services is a leading European RegTech Provider of end-to-end managed services for KYC and AML. We combine our extensive expertise with advanced technology, high-quality data and unique mapping intelligence into easy-to-use solutions, no matter which industry or jurisdiction you operate in. We support our customers in the search for new opportunities with clients and third parties. Our solutions protect you and your business against reputational risk and crime.

About Deloitte Consulting AG
This press release has been written in general terms and we recommend that you obtain professional advice before acting or refraining from action on any of the contents of this publication. Deloitte Consulting AG accepts no liability for any loss occasioned to any person acting or refraining from action as a result of any material in this publication.

Deloitte Consulting AG is an affiliate of Deloitte NSE LLP, a member firm of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"). Dttl and each of its member firms are legally separate and independent entities. DTTL and Deloitte NSE LLP do not provide services to clients. Please see www.deloitte.com/ch/about to learn more about our global network of member firms.

About Nexxiot
Nexxiot's mission is to remove uncertainty in the global supply chain, empowering clients to achieve their growth and sustainability goals.
Nexxiot provides real-time Asset Intelligence for railcars and shipping containers through its highly reliable hardware, software, and analytics. The technology automatically detects location, shocks, movements, modalities, border crossings, and more. These capabilities enable users to monitor the condition of an asset, automate business processes, and provide new services to stakeholders.

Nexxiot has one of the largest device fleets installed globally, with more than one million assets equipped for clients, including Hapag-Lloyd, Knorr-Bremse, VTG, Ermewa, Deutsche Bahn, SBB, and North American railroads.

Headquartered in Zurich, Switzerland, Nexxiot has more than 150 engineers and industry experts, serving clients from its offices in Germany, Sweden, and North America.

For more information on Nexxiot, visit www.nexxiot.com

SOURCE Nexxiot