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KPMG preps Singapore embedded finance hub

KPMG preps Singapore embedded finance hub

KPMG is launching an embedded finance hub in Singapore, providing support to firms looking to make inroads into financial areas such as payments, blockchain and lending.

The first of its kind in Singapore, the hub is set to run for at least two years and provide incubation support to over 120 financial and non-financial enterprises bidding to enter the embedded finance arena.

KPMG says that its financial services experts will provide best practices and venture acceleration support to participants. Start-ups can also trial their innovations at the hub, gaining feedback from their fellow participants.

Meanwhile, the hub will look to facilitate collaboration between non-finance sector players and the FS sector as they test services as well as provide access to APIs that can be embedded in external channels and applications.

Anton Ruddenklau, partner, global head, innovation, financial services, KPMG International, says: "The next phase of the fintech disruption is moving beyond open banking to embedded finance.

"This unleashes new opportunities to create ecosystems for financial services to develop their as-a-service business and work with corporates to partner for new embedded finance initiatives; improving customer experience and creating new source of revenue."

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