KPMG Introduces Its New Fintech Platform

KPMG, one of the ‘big four’ professional services networks, has unveiled its latest innovation in the realm of finance technology with the launch of the KPMG Digital Finance platform, as highlighted in FinTech Magazine. This fintech platform is designed to provide finance teams with a modern and integrated solution, allowing professionals to focus more on value-added tasks rather than laborious back-office finance work.

Powered by Aptitude Software and Microsoft Azure and Dynamics, the KPMG Digital Finance platform offers a range of features. It includes a pre-configured and managed finance solution with AI capabilities, enabling easy access to finance and data analytics capabilities as a service. The platform’s modular and scalable cloud-native design incorporates machine learning and generative AI capabilities, making it an easily managed solution for finance teams.

Key features of the KPMG Digital Finance platform include:

• Microsoft Dynamics 365 F&O: Provides financial management, customer relationship management capabilities to organisations.
• Microsoft Power BI: State-of-the-art data visualisation software with preconfigured finance and data quality dashboards and reports.
• Azure Databricks: A unified analytics platform for data science and engineering.
• Azure Cosmos Database: A highly scalable database service that optimises the performance of globally distributed applications.
• Azure Data Factory: A hybrid data integration service to create, schedule, and manage workflows that can move data between various data stores.
• Azure Virtual Desktop: A desktop and app virtualisation service that runs on the cloud.

David Fourie, Partner at KPMG, highlighted the importance of this launch in the context of increasing technological, business, and regulatory changes. He stated, “Moving to a FaaS model ensures finance teams have a secure, scalable, cost-effective solution that leverages best practices, while also moving finance from mundane, repetitive tasks to forward-facing analytics and informed decision-making.”

The launch of KPMG’s Digital Finance platform comes at a time when investment in fintech is on the rise again, following a dip in VC funding for FY2023, as reported in KPMG’s Pulse of Fintech Report 2023. This trend reflects the growing demand from businesses to incorporate gen AI capabilities into all functions of their operations, with finance being a key area of focus.

With Microsoft as a strategic partner, KPMG is well-positioned to meet the evolving needs of its clients, offering a simpler, more efficient, and secure finance solution through the KPMG Digital Finance platform.