KPMG International has completed the acquisition of Matchi, a platform that connects financial institutions with carefully vetted FinTech firms worldwide.

Some $71 billion was invested in FinTechs between 2015 and 2016, KPMG noted, with the introduction of Open Banking and PSD2 further encouraging the partnership between financial institutions and FinTech companies. KPMG and Matchi have worked together since 2015, and the acquisition is anticipating the increase of client demand for FinTech alliances, the professional services firm added.

Featuring more than 2,500 FinTech firms offering solutions to legacy problems or launching ventures into new markets, 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 on solutions.

Warren Mead, global co-lead for FinTech at KPMG, commented: “As we enter the new world of Open Banking and PSD2 innovation will become even more relevant, so we are investing today to make building partnerships as easy as possible for clients and stakeholders. Firms can’t possibly filter the thousands of FinTechs on the market so KPMG’s Matchi platform will help them block out the noise and focus on what will work.”

David Milligan, CEO of Matchi, added: “Combining the Matchi platform with the knowledge and skills of KPMG professionals creates a powerful FinTech resource. 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.”

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