KPMG and AccessFintech have joined forces to help financial institutions with digital transformation.
AccessFintech’s Synergy Network will integrate into KPMG’s Connected Operations Transformation to provide firms with operational and post-trade data services.
The aim is to enhance clients” digital operating models, unlock data insights and accelerate operational transformation.
The Synergy Network from AccessFintech collects and normalises data while facilitating a customisable but standard operations management workflow.
It also enables operations transformation across the whole transaction lifecycle as well as enhances insight benchmarking across the financial ecosystem.
In addition, users of the network will be able to access improved data transparency, enabling middle- and back-office teams to focus on high priority risks remediation.
“Financial institutions are increasingly seeking to transform and streamline their processes and operations in the face of a challenging economic and regulatory environment,” said Feargal De Burca, partner at KMPG UK.
He added, “Our partnership with AccessFintech will build on our efforts to help our clients bridge the gap between their legacy and modern technology systems as well as improve team collaboration, data management, and operational resilience.”
In a similar move, AccessFintech developed a strategic alliance with Deloitte in December last year, with the aim to help financial institutions implement digital transformation.
The alliance drew on Deloitte’s financial services industry consulting and advisory services and AccessFintech’s data management and workflow solution to help overcome challenges presented by legacy IT infrastructure, fragmented data and manual processes, while also helping firms to address regulatory obligations and strengthen operational resilience.
“The challenges those organisations are dealing with in an ever-changing landscape,” added Matt Digby, VP business development at AccessFintech.
He added that they will work with KPMG “to support the efficient and seamless implementation of Synergy Network within a broad range of firms seeking to digitally transform their operations while reducing cost and risk.”