KPMG acquires international FinTech company

KPMG has acquired a global financial technology (FinTech) innovation and match-making company,Matchi, to connect financial institutions (FIs) to financial services solutions worldwide.

This acquisition strengthens the company’s FinTech market proposition in the country and provides the local market with quick and easy access to leading global solutions.

Dubbed ‘Matchi’, the match-making platform connects financial entities such as banks and insurance companies to services technology solutions and other companies.

At the French Digital June Forum in Accra, the Head of Risk Consulting, Mr Andy Akoto said FinTechs and FIs were required to collaborate in order to drive the digital economy across Africa and that the platform perfectly summed it all up.

He explained that the website, matchi.com, is a business portal that had been established to link FinTechs with FIs with its primary target being those looking to promote their services and also to help with financial-inclusion programmes.

“You can go there as a company and log in your issues and there will be a match with other partners within the digital space to link up . It is just like any match making website where lovers and prospective marriage partners get connected,” he said.

This platform, he added, would be of particular benefit to banks because it helped  address a number of challenges that could be scaled with digital solutions.
He pointed out that the platform helps institutions to network and have more business deals.

“If you decide that you want to sell some of your products in the digital space like a t-bill, it is more difficult creating that digital platform yourself and scouting for buyers than using the platform with prospective buyers to easily sell the product. The matchi platform will make the financial institution whether micro-finance, savings and loans or any rural bank go out there and look for a certain service provider no matter their location to increase business deals,” he said.

This move, the company believes, is a step in the right direction to contribute to the global economy of the country since the platform is broad and connects companies across countries.

KPMG is committed to ensuring that FIs take advantage of this platform to contribute to the digital economy of the country.

About Matchi

Matchi is a global FinTech innovation match-making firm that has worked with over 100 leading banks and insurance companies around the world
It provides a searchable, highly detailed portal of FinTech solutions, as well as bespoke projects for FIs to source solutions aimed at the FIs areas of focus.

The global Matchi team has executed FinTech challenges and Market Scans for multiple FIs around the world in markets as diverse as Africa, Japan, Canada, Mauritius and India.

Matchi was established in 2013 but KPMG only acquired it some months ago.  — GB