KPMG Promotes Embedded Finance in Singapore With Launch of New Hub

With the popularity of embedded finance running deep in Singapore, KPMG has confirmed this week that it is to launch the island country’s first Embedded Finance Hub.

The professional services firm’s newly-announced hub will match enterprises and financial institutions from across the industry in a promotional effort to guide and provide knowledge in the required specific areas of embedded finance.

Set to run for at least two years, the initiative is expected to provide incubation support to over 120 non-financial enterprises and financial institutions looking to make inroads into financial areas such as payments, blockchain, lending, insurance and wealth.

Financial services experts from KPMG will provide participating companies with best practices and venture acceleration support, which could involve working to co-create digital assets to drive developments for payments, gamification of finance, decentralised finance and platforms.

Companies can also trial their embedded finance innovations at the Hub, gaining feedback from ecosystem participants on how to get these commercialised; as the Hub lays the foundations for future data-enabled innovations.

The initiative will also see collaborative efforts between non-financial service sector organisations, such as healthcare, agriculture, technology, media, telecom and retail companies, and financial services businesses as they test value propositions backed by digital technologies.

For instance, participants will gain access to an…