Under the partnership, KPMG member firms globally, including in Australia, will work with financial services clients to access the benefits of fintech innovation, using the Matchi.biz platform to identify quality innovation opportunities and advising clients on how to execute and deploy new solutions into the marketplace.
In Australia, the ANZ Banking Group and Bendigo and Adelaide Bank have signed up to the platform, alongside local fintech startups such as home loan marketplace HashChing.
The Matchi.biz platform connects banks and insurance companies with financial services technology startups and innovations sourced from around the world.
“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.
“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.”
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.
Pollari says the research collaboration will benchmark the developments of alternative finance markets, and a series of reports will be produced over the next six 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.”