KPMG International has recently announced the acquisition of Matchi, a leading matchmaking platform that connects financial institutions with carefully vetted fintech companies worldwide.

The acquisition cements a two year relationship in anticipation of increased client demand for fintech alliances.

Warren Mead, Global co-lead fintech, KPMG said, “Through 2015 and 2016, a total of $71bn was invested in fintechs globally as traditional financial services companies increasingly recognised tech innovation as the best way to remain relevant, manage compliance and cut costs. 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.”

Matchi includes more than 2,500 fintech companies offering innovative solutions to legacy problems or launching ventures into new markets. The platform allows financial institutions to search for a specific company or product, or to use the proprietary “Innovation Challenge” to present specific problems to the fintech community and receive recommendations on solutions. In this way, firms can access the brightest and best thinking to address their challenges.

David Milligan, Matchi CEO commented “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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Related: KPMG acquires FinTech matching platform