KPMG, a major provider of advisory services, today announced it has completed acquisition of Hong Kong-based matchmaker platform Matchi, which connects financial institutions with carefully vetted FinTech firms worldwide. The consultancy firm did not disclose the financial details of the transaction.
Featuring more than 700 curated FinTech solutions and a database of more than 2,500 FinTech companies, the Matchi platform allows institutions to search for a specific company or product, or to present specific problems to the FinTech community and receive recommendations.
The financial services companies take advantage of Matchi’s Innovation Challenge feature by issuing a specific business issue or problem on the platform and see what fintechs are interested in pursuing a solution.
Since its inception in 2013, Matchi claims to have played matchmaker for more than 100 leading banks and insurance companies worldwide, helping firms deploy a variety of technologies ranging from payments to the blockchain.
Ian Pollari, Global Co-leader of Fintech at KPMG International commented on the acquisition: “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.”
David Milligan, Matchi’s CEO added “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.”
Source: Finance Magnates