The global consultancy firm and the US software giant have widened their strategic relationship over a suite of service and products.

KPMG has widened its strategic relationship with US software giant Microsoft to collaborate on a suite of services and solutions in data and analytics, "cloud compliance" and business solutions – areas of relevance to wealth management as financial technology evolves.

The firms said the collaboration is an "important phase" in the relationship of these two firms: KPMG said it has already guided more than 100 clients using Microsoft's Business Intelligence, Analytics and Microsoft Dynamics products.

The new strategic hook-up is based on Microsoft's Azure, Dynamics and data platforms.

The wealth management sector has, like many other business areas, seen the impact of disruptive technologies such as mobile tablet devices, cloud computing, social media and other channels.

"The CEOs I talk to are increasingly looking for KPMG to combine our business expertise with the power of new technology to better help them transform their business. The real point of difference in this collaboration is our ability to set new standards for innovative business solutions, enabled by Microsoft's leading platform and application suite, delivered rapidly to market to create real business value," Mark Goodburn, KPMG’s global head of advisory, said.