KPMG is looking to cash in on the growing trend for bank/startup collaboration with the acquisition of fintech matchmaking platform Matchi.
The Matchi database includes more than 700 curated applications and a database of more than 2500 fintech companies that financial institutions can work with to develop more innovative services.
“The acquisition of Matchi adds to the capabilities of KPMG firms to bring market-validated ideas to financial services clients’ toughest challenges,” says Ian Pollari, global co-leader of fintech, KPMG International. “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.”
Pollari says that since its inception in 2013, Matchi has connected more than 100 banks and insurance companies with smaller startups operating across the fintech value chain, covering next generation payments, regtech, blockchain and P2P insurance.
Financial terms were not disclosed.