KPMG and Finxact
Core Modernization and Embedded Finance
Challenged with complex, aging banking technology and significant customer experience-driven disruption in the banking sector, many forward thinking executives are assessing their approach to modernization of Core Banking platforms and cross-enterprise digitization, broadly. The big four objectives typically include:
- Meeting customer demands for digital experiences both current and into the future
- Enhancing agility and speed to market for products, services and experiences
- Streamlining technology and operations processes and reducing total cost of ownership
- Enabling access to additional revenue streams and customers via Banking as a Service and embedded finance opportunities
To assist with this complex and critical strategic effort, KPMG LLP (KPMG) has teamed with Finxact, a leading provider of next gen digital core banking solutions to the US banking sector. Leveraging decades of knowledge in core banking technology, Finxact chose to innovate the banking core with the aim of enabling the open API accessibility, flexibility, scalability and speed required for banks to meet evolving customer expectations and competitive pressures. Finxact’s Core as a Service solution is built on next-gen digital technology and is live and operational in 30 US banks and fintechs now and is expanding into global banking markets. By combining deep financial services industry knowledge, business engineering experience and technology integration expertise of KPMG with Finxact solutions, we help our clients clarify their objectives, assess and prioritize strategic options, articulate the transformation roadmap and business case, and drive execution of the digital transformation roadmap.