KPMG buys fintech company Markets IT
Professional services giant KPMG has acquired fin-tech company Markets IT for an undisclosed sum, in an effort to expand its “big data” capability and help banking clients grapple with a barrage of regulatory change. It comes as global regulators step up their efforts in relation to trader surveillance. KPMG chief executive Gary Wingrove referred to the merger as a “timely and strategic” acquisition. It is the firm’s eleventh bolt-on acquisition in two years, as Big Four accountancy firms attempt to diversify their consulting services to align with the big gnarly problems facing the C-suite. Markets IT bills itself as the dominant supplier of Murex software in Australia- a trading platform […]
Westpac asks Gen Y to help it find the next fintech start-up
As all banks grapple with the impact of huge technological shifts, Westpac hopes to get an edge over rivals by tapping into the ideas of bright, young non-bankers. With the bank admitting it needs to be more nimble in the face of growing competition from technology-based firms, senior Westpac executives will next week be presented with business proposals on digital disruption in finance from a group of people aged 18 to 35 , from Australia and China.But none of those pitching the ideas on digital disruption are bankers. Source: Westpac asks Gen Y to help it find the next fintech start-up
