Innovation Blog



KPMG is one of the world’s leading professional services firms – with over 34,000 partners and professionals in the US, we help large enterprise organizations across industries address some of their biggest challenges. We are very active in the Financial Services space with major clients in Banking, Insurance and Asset Management, who come to us for Advisory, Tax and Audit services. Our people share a sense of purpose in the work we do, a passion for supporting our communities, and a commitment to inclusion and diversity.


We are excited to be part of this creative and vibrant community! We started collaborating with MassChallenge in 2019 and have had a great experience, including as a sponsor for the Boston Program’s Enterprise Technology Fellowship – this focuses on early stage companies building enterprise technology and service platforms. 

By collaborating with MassChallenge FinTech, we look forward to working with startups to bring new perspectives and innovative ideas to our clients across Financial Services and other sectors. 


We have highlighted three challenge areas where we are excited to work with companies that bring innovative ideas and new solutions:

1. Managing Technology and Operational Risk

We help companies adopt new technologies and embrace innovation, while also identifying and mitigating any risks. Bringing quality solutions to help companies manage risks is a key component of our brand as ‘trusted advisors’.  

  • Automated Technology Risk Priorities: Financial Services companies rely on KPMG to identify and address key technology risks. We are looking for dynamic threat assessment tools to identify top risks in real-time, based on a company’s profile. Solutions should proactively identify risks (cyber security or operational; malicious or accidental) and provide a clear view of the top threats to a specific company.
  • Model Climate Risk: Create a solution that evaluates the potential business and financial impacts of climate-related physical and transition risks (across a company’s physical footprint, supply chains, customer demands, etc).
  • Illuminate the Supply Chain: Create a solution to enhance visibility and transparency across the supply chain to support insurance companies and/or asset managers as they assess business continuity risk. This should identify supply chain relationships, assess risks and flag top failure points. 

2. Financial Services for Small and Mid-sized Businesses (SMBs)

Most of our clients are large enterprise organizations, but we also provide services to small and mid-sized companies. KPMG Spark is our online accounting and bookkeeping solution for SMBs. For these challenges, we are looking for solutions that integrate directly with KPMG Spark. 

  • Automate Accounts Payable and Accounts Receivable: Create a digital or paper scanning engine to convert bills/invoices into actionable data that can be used to create workflows for approval, categorization, and even payments. This would leverage machine learning/artificial intelligence.
  • Create Benchmarking and Forecasting Tool: Create a tool to help small businesses see how well they are performing – and potentially benchmark against their peers. This should help a business owner assess key metrics including profitability, cash flow, and growth.
  • Support B2B Payments: Create a solution to facilitate secure, reliable B2B payments for micro and small business.

3. Insurance and Asset Management Solutions

Many of our clients in this space are rapidly transforming, but we still see some gaps in digital capabilities and a need to expand data-driven insights. 

  • Help Insurance Agents Manage Leads: Develop a solution that enables insurance agents to effectively manage leads. This includes case management, status notifications, and reporting.  
  • Identify ‘Hot-Spots’ for Residential Development: Build a predictive data-driven model to help asset managers identify optimal locations (by MSA or lower) for potential residential development or investment. This would draw on multiple data points that collectively identify supply and demand gaps based on migration patterns.


We view this as an opportunity to form an equal working relationship. We are eager to share our expertise and resources to support startups and, as one of the world’s leading professional services firms with a truly global footprint, we are well-positioned to help startups drive scale and achieve outsized impact. We look forward to working alongside startups to help our clients solve some of their most complex, pressing challenges!

Start your application for MassChallenge FinTech today!

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