KPMG International announced on Wednesday it has acquired Matchi, a global fintech innovation and matchmaking platform that connects financial institutions, including banks and insurance companies, with leading-edge financial services technology solutions and companies worldwide.
According to KPMG, the Matchi platform includes over 700 curated fintech solutions and a database of more than 2,500 fintech companies that financial institutions may work with to apply fintech capabilities to solving their business problems and pursuing new market opportunities. Ian Pollari, Global Co-leader of Fintech, KPMG International, stated:
“The acquisition of Matchi adds to the capabilities of KPMG firms to bring market-validated ideas to financial services clients’ toughest challenges. The Matchi platform offers a curated approach that is much more rigorous than fintech databases that merely provide lists. It is designed to identify, match and enable collaboration with the most innovative fintechs and solutions to address specific issues being faced by financial institutions.”
KPMG also reported that since its inception in 2013, Matchi has connected over 100 banks and insurance companies with fintech innovations, including solutions in next generation payments, regtech, blockchain and P2P insurance. David Milligan, Matchi CEO, also commented:
“Combining the Matchi platform with the exceptional knowledge and skills of KPMG professionals creates a powerful fintech resource. Together, we are positioned to help clients find and deploy the fintech solutions that are most relevant to their business needs. We are fulfilling the promise of collaboration between financial institutions and fintech firms, which can ultimately benefit all consumers and businesses.”
Pollari went on to add:
“Financial institutions increasingly recognize the value in identifying and partnering with fintech companies around the globe who have already demonstrated an ability to commercialize their efforts. Finding fintech companies who are pre-validated, helps to reduce risks and can accelerate time to market. KPMG financial services professionals are helping clients to navigate through the ‘noise’ of the rapidly changing fintech environment and take advantage of emerging technologies that can enable new business models and strategies. We are continuing to expand the capabilities of KPMG firms with investments and acquisitions such as Matchi.”