KPMG has been ranked No.1 in Financial Services Consulting, according to the latest report by Source Global Research titled Perceptions of Consulting in Financial Services: Client Perception Programme, which reflects the views of 1,800 decision-makers globally.
A rise of eight points compared with its 2018 performance in the survey placed KPMG squarely at the top of the table and marked the biggest uptick in client opinion of individual firms in the period.
Every year, Source Global Research asks senior end-users of consulting firms to rate the quality of consulting firms' work in 13 different financial services specialisms.
KPMG came first in business strategy, financial management, risk management, regulatory-driven work, and robotics, as well as working with legacy technologies and managing non-digital transformations.
The firm also ranked in the top three for taking advantage of artificial intelligence, data and analytics, operational improvement, and sales and marketing consulting, including customer experience.
Last year, KPMG had strong scores in what might be deemed 'traditional' areas of strength for the firm: financial management, risk management, and regulatory-driven work. It still scores highly in these areas this year
These findings suggest that KPMG's focus on high-quality, innovative and technology-driven services and solutions while continuing to provide consistent, excellent support in more traditional fields of work is paying off.
The report noted, “Last year, KPMG had strong scores in what might be deemed 'traditional' areas of strength for the firm: financial management, risk management, and regulatory-driven work. It still scores highly in these areas this year, but it has closed the gap in services like sales and marketing, robotics, and transformation (both digital and non-digital). Last year, for example, 62 per cent of KPMG's clients spoke positively about its digital work; this year that number is up to 73 per cent."
"Several years ago, we set a new course," said Jim Liddy, chairman of KPMG Global Financial Services. "We knew that we needed to assert our capabilities and our talents in new areas – digital transformation, data, and analytics, fintech, emerging technology – and that we had to win the kind of flagship engagements that would give us brand permission in these areas."
He continued, "The Source report reinforces the conversations that I had with clients and partners. We are making good on the challenges we set for ourselves, and our clients recognise the value we bring. As always, this comes down to trust and growth – as trusted advisors in the technology-driven transformation we will win the work that will help us to grow and invest in our business for years to come."