How Capco supported the design and build of a WM sales execution & booking platform

INTRODUCTION

In 2018, a market leading wealth manager approached Capco to support the design and build of an industry leading wealth management platform to support an ambitious business growth plan. The new platform will allow the client to offer new, differentiated, and competitive services to their clients. The new platform is planned to be rolled out across various international locations in course of next five years. 

WHY NOW? 

The client wanted a platform which would enable them to have best-of-breed applications, streamlined business processes and increased automation across several international locations.  

This would enable a faster time to market for their client service provision and increased optimization of ‘run-the-bank’ costs and greater unification of the application landscape.  

They also knew how such a change could invigorate their organization and help them to connect more closely to their clients, as well as attracting new ones. From an internal standpoint, they were confident it could improve employees’ engagement and enable them to deliver a higher quality of service.  

HOW WE DID IT  

Our teams accompanied the project through the initial phases of strategy development, running an RFI/RFP process with multiple application vendors, and concluding on a target set of applications and operating model to be rolled out across half a dozen locations over the next five years.  

We then got to work on developing the business’ requirements, checking that the target model fit the business, standardizing the applications and processes, whilst at the same time making sure the platform was tailorable for specific regions.  Furthermore, we are supporting in delivery of target model for planned locations. 

Working in close partnership with the client, Capco have:  

  • Provided differentiating capabilities to provide best services for clients and RMs 
  • Supported growth ambition by relieving RMs from administrative tasks and clear client segmentation (e.g. introducing new system features) 
  • Aligned a front support center to improve service time and quality towards the front office  
  • Taken a standardized approach to the application landscape across the wealth manager’s locations, incorporating true platform independent global applications 
  • Leveraged existing technological solutions and enhanced capabilities that were tailored to the individual IWM locations 
  • Minimized development/extension and integration costs through standardized application landscape, “build once and use everywhere” 
  • Introduced a high degree of standardized and automated business processes across all locations 
  • Improved time to market for new business features to be offered in all locations. 

WHAT NEXT? 

The client’s wealth management division now plans to standardize and harmonize the whole end-to-end value chain of the wealth management business and will – as part of this activity – conduct a multi-year implementation program. Locations will profit from additional functionality offered by the global platform independent from applications.  

Capco will continue to work with the client on rolling out this truly collaborative and innovative project with support and expertise from Capco offices in Germany, Austria, Slovakia, UK, US and Switzerland. 

For more information about how we can help your organization, please contact:  

Andrea Hoffmann

Capco Zurich

Bodo Schaefer

Capco Frankfurt