KPMG acquires global FinTech platform, Matchi
KPMG has acquired Matchi, a leading 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. The Matchi platform includes more than 700 curated FinTech solutions and a database of more than 2,500 FinTech companies .
Pierre Fourie (pictured), Financial Services Director for KPMG in South Africa, says the acquisition will provide the South African market with quick and easy access to the best global solutions:
"South African FinTechs will be able to utilise this platform, and the KPMG global network, to present their solutions on an equal footing to the global banks and insurance companies."
FinTech companies and solutions are reviewed and undergo a curation process in order to qualify to appear on the Matchi platform. Financial institutions are able to search for a specific company or solution, or they can use the platform's proprietary "Innovation Challenge" capability to present specific problem statements to the global FinTech market and receive recommendations on solutions from FinTech innovators. In this way, financial institutions are able to access and unlock the leading edge technology and deep customer insight of the world's best FinTech firms for their own operations.
Fourie says KPMG's acquisition of Matchi strengthens its FinTech market proposition:
- "The The Matchi platform offers a curated approach that is much more rigorous than FinTech databases that merely provide lists. Its design makes it easy to identify, match and enable collaboration with the most innovative FinTechs and global solutions to address the most pressing needs of clients. We are in the unique position in South Africa in that the Matchi skills are based here."
Since its inception in 2013, Matchi has connected more than 100 leading banks and insurance companies with FinTech innovations, including solutions in next generation payments, regtech, blockchain and P2P insurance.