Fintech matchmaker Matchi has made a major match of its own: The Hong Kong-based company agreed to an acquisition by KPMG this week. Terms of the deal were not immediately available.
Calling the combination of the two entities a “powerful fintech resource,” Matchi CEO David Milligan said that the acquisition will help Match “fulfill the promise of collaboration between financial institutions and fintech firms, which can ultimately benefit all consumers.” Global co-leader of Fintech for KPMG International, Ian Pollari called Matchi’s curated approach” as very different from the “fintech databases that merely provide lists.” He added “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.”
Matchi’s platform featured more than 700 curated fintech solutions as well as a 2,500+ company database of fintech innovators that FIs can collaborate and work with. FIs can search for specific companies or technologies, and take advantage of Matchi’s Innovation Challenge feature by issuing a specific business issue or problem on the platform and see what fintechs are interested in pursuing a solution. “Finding fintech companies who are pre-validated, helps to reduce risks and can accelerate time to market,” Pollari explained.
Founded in 2013, Matchi demonstrated its technology at FinovateFall 2014. The company has played matchmaker for more than 100 leading banks and insurance companies worldwide, helping firms deploy a variety of technologies ranging from next generation payments to the blockchain. Last month, Matchi teamed up with ATB Financial and KPMG Canada to run a customer onboarding innovation challenge for fintech companies.