Accelerating its global fintech strategy, KPMG International has announced that it has become the exclusive advisory alliance partner with Matchi.biz, the innovative fintech matchmaking platform that connects banks and insurance companies with financial services technology startups and innovations sourced from across the globe. In Australia, ANZ Banking Group and Bendigo and Adelaide Bank have signed up to the platform, alongside local fintech startups such as home loan marketplace HashChing
Through the Matchi alliance, KPMG member firms globally will work with financial services clients to access the benefits of fintech innovation that is taking place globally – using the Matchi platform to identify quality innovation opportunities and advising clients on how to execute and deploy new solutions into the marketplace.
Since its launch in 2013, Matchi has evaluated and brought to its platform innovations from hundreds of fintech firms, and has supported more than 50 fintech Financial Institution members who are seeking fintech solutions from outside of their organisations.
“Our alliance with Matchi answers key questions for financial institutions of how they find the right fintech, how they can better evaluate its quality, and how they engage with fintech companies, many of which are small startups,” added Ian Pollari, National Head of Banking for KPMG Australia and Global Co-lead of KPMG’s fintech practice. “KPMG professionals will also be able to advise fintech firms on how they can advance their businesses, whether it’s help with M&A or other ways to bring their innovations to market.”
“We are delighted to join in this new alliance with KPMG,” said David Milligan, Matchi CEO. “Our members now have access to KPMG’s extensive network of financial services professionals with on-the-ground experience in 155 countries to not only advise them in the fintech innovation matchmaking process and also in deploying new technologies.”
With the Matchi alliance, KPMG continues to expand its global fintech capabilities, which includes innovation hubs in Australia as well as in the US, UK, Luxembourg, the Netherlands and Israel. “Our professionals are focused with financial institutions in areas such as marketplace lending, next generation payments, wealth management technology, and cyber security and biometrics,” said Warren Mead, Global Co-lead of KPMG’s Fintech practice. “The Matchi Alliance will help enable greater speed and value in deploying new fintech solutions to address critical needs and opportunities.”
In order to further develop the market’s understanding of the emerging fintech sector, KPMG also announced a research collaboration with the Cambridge Centre for Alternative Finance at the University of Cambridge Judge Business School and its academic partners – the University of Sydney Business School, the Polsky Centre for Entrepreneurship & Innovation at University of Chicago Booth School of Business, and Tsinghua University Graduate School at Shenzhen – to benchmark the developments of alternative finance markets. A series of reports will be produced over the next 6 months covering key regions, including Greater China, Asia-Pacific, the Americas and Europe.
“This exciting research will greatly enhance our knowledge of fast-developing alternative finance markets in different parts of the world. This will assist policy-makers, regulators and industry in monitoring, understanding and where necessary, taking the right steps to facilitate the growth of alternative finance markets, such as marketplace lending (peer to peer lending, crowd-funding, etc.),” said Mr. Pollari.
“There is a wide disparity in the development of alternative, digital finance approaches among countries, and we believe the comprehensive global study we are undertaking with KPMG will help us to better understand why this is the case," added Robert Wardrop, Executive Director, Cambridge Centre for Alternative Finance.
KPMG’s Financial Services practice has identified fintech as a key strategic priority for clients globally. In order to enhance the ability to serve financial services clients, as well as fintech companies, it has launched the global fintech practice that will coordinate and leverage international investment activity and capability development across KPMG member firms. Warren Mead and Ian Pollari, partners with KPMG in the UK and KPMG in Australia respectively, have been appointed as global co-leads of the practice, along with a leadership team including partners from countries including the U.S., U.K., Israel, China & Hong Kong, India and Australia.
Matchi is a global innovation matchmaking platform that provides leading banks and insurance companies (Fintech Buyers) with access to a curated online showcase of the world’s best, market-ready Fintech and Insurancetech innovations. Buyer Members are able to search, view and connect with Innovator Members to establish collaborative relationships and explore new business opportunities to drive their organisation forward. Matchi analysts send regular recommendations to all Buyer Members showcasing innovations that address key focus areas for each individual client.
Communications Manager – Innovation & Entrepreneurship, KPMG Australia
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