INTRODUCTION
To ensure competitiveness and facilitate future use cases in the payments area, the client asked Capco to support the solution design, vendor selection, system integration and market rollout of a payments and transaction monitoring/compliance utility. The solution focuses on centralized payment processing and AI-based risk and compliance screening of transactions.
WHY NOW?
The Swiss National Bank has made the provision of instant payments mandatory for Swiss banks. To meet this requirement, our client designed a service solution for the Swiss market. With our experience of change and transformation processes in the financial services market combined with technological and process expertise, Capco was one of the preferred partners for the solution development.
HOW WE DID IT
Performed the solution design:
- Requirements analysis based on existing use cases, client workshops and other functional and non-functional requirements
- Design of services (e.g. architecture blueprint, process flows, functional requirements, target use cases).
Performed vendor selection:
- Identification and selection of vendors for the RfI phase
- Design, execution, and evaluation of the RfI, RfP and proof of concept phases, starting with over 40 vendors for payments and compliance solutions.
Planned the system integration and market rollout:
- Specification of technical requirements, interfaces, design of target operating model, and project planning for the integration and rollout phase
- Support of marketing activities (e.g. bilateral workshops with potential clients, webinars)
- Design and alignment of the business case and project documentation.
WHAT WE DELIVERED
Capco transformed the initial idea into a detailed plan and target operating model:
- Provided a detailed description of functional requirements as well as the functional, regulatory and technical prerequisites for implementation.
- Analyzed internal business cases to generate awareness of cost implications, carried out a comparison with competition and designed a suitable price structure.
- Thorough planning, specification of technical requirements and design of operational processes shortened the implementation timeline and helped identify and mitigate risks.
- Modular approach further reduced project risks by building knowhow and allowing the outcomes to be continuously evaluated.
- Discussions with potential partners allowed us to assess opportunities for optimizing the planned services and market rollout.
The client further benefitted from our evaluation and demonstration of the advantages of an AI-supported compliance solution for combating fraud and money laundering and complying with sanctions and embargo regulations. In addition, Capco performed a detailed vendor analysis which formed the basis for selecting the most suitable solution providers for the planned services.
