Capco Introduces “changeSourcing” to Drive Bank Transformation
- New Capco white paper stresses greater urgency required across financial
services business and technology change programs
- Unique approach supports industrialisation of crucial bank operations to
deliver significant business benefits
LONDON -- April 3, 2013
Capco, a global business and technology consultancy dedicated solely to the
financial services industry, today released a white paper detailing a
comprehensive new model for the bank’s business and technology functions.
Titled, “Change, at what cost? The case for industrialising business and
technology change,” the paper outlines the benefits of adopting transformation
known as changeSourcing. Capco is part of FIS™ (NYSE:FIS), the world’s largest
global provider dedicated to banking and payments technologies.
changeSourcing gives a financial institution access to strategic business and
technology change (B&TC) resources via an outside service provider. These
change-management professionals have specialised domain expertise and are
available on demand. Through changeSourcing, banks can periodically tap into
the high-calibre talent they need to spur innovation, while improving
execution and service quality, as well as return on equity.
The new model outlined by the paper is already in use by Capco clients and
institutions across the globe. Capco has seen a tremendous uptick in requests
from institutions to help improve business and technology functions.
Mark Reeves, Global Capital Markets leader at Capco, said: “Issues such as
over-capacity and regulatory requirements continue to fuel banks’ rising cost
pressures. Global transformational measures, such as industrialising business
and technology operations, can help equip banks to weather industry change and
drive return on equity growth.”
Within the bank, business and technology processes drive the development of
new capabilities, products and services, as opposed to “run-the-bank,”
processes which are traditionally focused on the bank’s core systems. These
projects are driven by new business ideas, such as the creation of new
financial instruments, and can include projects such as adding processes,
functionality and data models. According to the Capco paper, budgets for these
projects can exceed hundreds of millions of dollars and are spread across a
number of different functional areas.
Ian Brown, Partner with Capco’s UK Capital Markets team, said: “Our analysis
shows that the time is right for banks to consider a new model that leverages
on-demand services of an external provider in the critical area of business
and technology change. Industry pressures are driving out the historic
mistrust of alterations to functions that touch the front office, and now
banks are looking for sophisticated partners to help manage these crucial
Benefits of transforming B&TC include:
*Retaining and accessing talent – by providing a new career path for bank
business and technology professionals
*Structurally transforming the cost base – by providing a fixed-rate model
*Improving execution quality – by better aligning resources with projects
*Benefiting from change process innovation – Capco’s business focus
Reeves continues: “Institutions that embrace B&TC, rather than implementing it
piecemeal, will find that they will experience a multiplier effect on
benefits, and we are recommending that our clients plan to implement these
ideas as broadly as possible.”
Get the complete picture:
Capco is a global business and technology consultancy dedicated solely to the
financial services industry. Our professionals combine innovative thinking
with our unrivalled first-hand industry knowledge to offer our clients
consulting expertise, complex technology and package integration, and managed
services to move their organisations forward.
Through our collaborative and efficient approach, we provide our clients with
tools to enable them to increase revenue, better manage risk and regulatory
change, reduce costs and enhance control. We specialise in banking; capital
markets; wealth and investment management; insurance; finance, risk &
compliance; and technology. We serve our clients from offices in leading
financial centres across North America, Europe, Asia and Africa.
Additionally, as a part of FIS (NYSE:FIS) the world’s largest global provider
dedicated to banking and payments technologies, Capco is able to leverage FIS
best-of-breed, innovative solutions and services to support client delivery.
Access to the FIS complementary skill set, global talent pool, industry
leading-technology assets and strong balance sheet, positions Capco even more
strongly to tackle complex architecture and large scale transformation in
To learn more, visit our web site at capco.com and subscribe toCapco's
newsroom RSS feed.
Loretta Mock/Jessica Kleinman
+1 646 395 6300
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