KPMG has invested £3m on Flexeye, a UK-based smart systems analytics technology company. This is the latest move by the accountancy firm to boost its position in the analytics market.
The deal comes after KPMG collaborated with Flexeye to provide KPMG’s Konduct platform, which helped prevent mis-selling of products to one of UKs high street banks.
Flexeye offers a technology platform which allows companies to implement solutions that combine and analyse real-time data feeds from a variety of sources, including social media and mobile devices to customer databases.
With the big data analytics technology, companies will be able to combine data to understand risks, make better decisions and capitalise on the ‘Internet of Things’.
Applications of Flexeye’s technology are used in banks, and by product and transport companies to improve efficiency and to enhance safety.
KPMG financial services partner John Hall said: "Organisations are operating in a brave new world. Today’s organisations need to understand risks in real-time, inform their decisions based on predictive analysis and future-proof themselves to capitalise on opportunities such as the ‘Internet of Things’.
"Flexeye has grown rapidly in the past decade not only because their technology addresses the challenges of tomorrow, but it tackles the problems of today."
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