- Finxact forged a strategic partnership with KPMG this week.
- The alliance will combine KPMG’s design and systems integration capabilities with Finxact’s core bnking platform.
- Finxact was acquired by Finovate alum Fiserv this spring.
Finxact, the core banking software company acquired by Fiserv earlier this year, announced a strategic partnership this week. The firm is teaming up with KPMG who will advise and help digitally transform clients on the Finxact platform. David Ortiz, Head of Partnerships at Finxact, explained the role that KPMG will play in helping Finxact clients embrace modernization.
“KPMG understands the way this manifests uniquely for different banking business models,” Ortiz said. “Together we’re combining technology and expert guidance to help our clients adapt and thrive.”
The alliance between Finxact and KPMG will blend the latter’s innovation, digital design, and systems integration capabilities with the former’s next generation core banking platform. The partnership will enable financial institutions to offer more personalized, differentiated customer journeys, accelerate time-to-market for new products, and boost cost efficiencies. FIs will benefit further from the ability to re-invent and expand their business models to better compete, engage new markets, and grow revenues.
“Universal banks, transaction-focused banks, ambient banks and fintechs are each facing unique challenges today that must be addressed with modern infrastructure,” KPMG Financial Services Advisory Principal Scott Huie said. “Whether that challenge is to reach new markets, improve unit economics, or embed finance, we are confident that with KPMG’s guidance and the Finxact platform we can help to enable new and winning digital experiences.”
Finxact was founded in 2016 and is headquartered in Jacksonville, Florida. The company’s strategic partnership news with KPMG comes a month after it announced that it had agreed to power the new Zenus Global Digital Bank, in collaboration with Microsoft and implementation partner HSO. Also last month, Finxact and Finovate alum PwC announced a partnership that will enable FIs to offer new solutions built and delivered by PwC Banking and Capital Markets (BCM) and enabled on Finxact’s open banking platform.