Welcome to the latest edition of our Journal. Why “the industrialization of finance”? Because post-crisis, as we re-build an industry that is ready for the opportunities of the future, we need to focus on the strategies and implementation that will help us all work more responsively, more efficiently, and in ways that shape the future of financial services positively and sustainably.
By “industrializing” what we do, we are not advocating a mechanical or unimaginative
approach – quite the opposite. What we are saying is that techniques and tools exist to make the commoditized and process aspects of the industry as reliable, predictable and efficient as possible, while focusing on what will differentiate customer service and product innovation.
At Capco, we have no doubt of the will and the creativity that already exist within global financial services. These qualities are ready to be applied to the tasks of meeting stakeholder expectations and rising to the challenges of transformational change. Yes, the lessons of recent history are still poignant. But intense competition, reduced margins and the need to identify and exploit new markets are evident in every industry. The automotive, retail, pharmaceutical, and in truth every industrial and commercial sector can tell a similar story of enormous change. The greatest difference perhaps is that our sector sits at the heart of national, regional and global economic recovery and prosperity. The expectations and the pressures are therefore even greater. And our responses have to be all the more robust.
As this latest edition of the Journal illustrates, some keen intellects are focused on the challenges that face us. As we “industrialize” we also have an opportunity to build a financial services sector that is the polar opposite of the negative assertions we have all heard since the most recent crisis. I hope you enjoy the views and insights of our Journal contributors. Incidentally, this edition reflects our faith in the renaissance of the industry by carrying the look and feel of our new branding – which I hope will meet with your approval.