Netherlands-based KPMG International has acquired Matchi, a firm that provides an online platform to match financial services institutions with financial technology (fintech) companies.
Through the Matchi platform, firms such as banks and insurance companies, can access a database that features more than 700 fintech solutions and more than 2,500 fintech companies.
“[The Matchi platform] is designed to identify, match and enable collaboration with the most innovative fintechs and solutions to address issues being faced by financial institutions,” saysIan Pollari, global co-leader of fintech at KPMG International, in a statement.
Companies included in the database are first vetted. In Canada, there are about 22 fintech firms represented in the database and eight financial services institutions currently signed on to the service, says Andrée Gage, national manager of communications at KPMG MSLP, in an email.
Financial services institutions can either tap the database for an existing solution or use the platform’s “innovation challenge” feature to pose a specific problem they face and ask for proposed solutions.
“Combining the Matchi platform with the exceptional knowledge and skills of KPMG professionals creates a powerful fintech resource,” says David Milligan, CEO of Matchi, in a statement. “Together, we are positioned to help clients find and deploy the fintech solutions that are most relevant to their business needs.
The acquisition of Matchi, which was founded in 2013, follows a collaborative challenge that Matchi, Edmonton-based ATB Financial and KPMG Canada launched in April. This local innovation challenge invited firms to partner with fintech firms to develop a solution to customer on-boarding and management.