In this newsletter, we will be reflecting on the success of Capco Switzerland during 2019 and sharing some of our biggest achievements from the last twelve months – which includes new clients, projects and events. We anticipate that 2020 will be another promising year for Capco, and we will be sharing some of the exciting opportunities happening in the next few months.
In November 2019, we were thrilled to announce the launch of our Swiss insurance practice. Like banking, the insurance industry is facing unprecedented challenges. Insurers are facing increasing cost and regulatory pressure, rapidly changing customer expectations (shaped by experience in other industries) and the challenge of increasing market share in a maturing landscape.
Capco’s deep industry expertise within this field will enable our insurance clients to meet these growing demands. We will be focusing on these four key areas:
To spearhead this exciting initiative, Marc Pfeifer joined Capco last November. He brings more than 15 years of experience in insurance and consulting from McKinsey, Zurich Insurance and Accenture. Over the next few months, you can expect to see our insurance practice grow, as we continue to sharpen our value proposition and increase awareness and engagement with the industry.
For us at Capco, this is a natural progression for the business. By leveraging our existing functional capabilities, with our local and global insurance market expertise, we hope to continue growing this practice during 2020. Going forward, this will be a significant, positive contributor to our overall business.
If you have experience working within the insurance sector, we would be delighted to share more details with you and would welcome any discussion about working together. Watch this space for future updates!
Over the last 18 months we have been supporting one division with their plans to renovate the operating platform for their wealth business in international locations. With over 200 people involved, it is one of the largest projects running in the bank – it’s hard to overestimate the scope.
The project involves core-banking system replacement, plus new front applications for client relationship management, advisory and portfolio management and a new trading architecture. We expect to go live in the first location at the end of this year.
Our teams have been involved in this project throughout the initial phases of strategy development. The have been running an RFI/RFP process with dozens of application vendors, deciding on a set of target applications and will be rolling out a new operating model to half a dozen locations over the next five years. The last six months were spent developing the business requirements and confirming that the target will equip the business with a standard set of applications and processes, whilst also coping with the local specifics of the regions.
Capco has also been selected as one of the consulting partners to support the delivery of this challenging set of projects. Combining teams from Capco offices in Germany, Austria, Slovakia, the UK, the US and Switzerland, this project demonstrates Capco’s collaborative, innovative approach.
One of our clients, a Southeast Asian leading regional bank and a market leader in corporate and SME banking, is embarking on a transformation journey. Capco has been involved in this over the past five years, implementing three of their transformation programs. Capco has been involved in this over the past five years, implementing three of their transformation programs. An international team of more than 15 consultants from Switzerland, Thailand and Hong Kong are working on redefining and implementing the bank’s financial crime strategy, strengthening their fraud risk controls, and optimizing, consolidating and digitizing sales, marketing and service across retail and commercial banking.
When I joined Capco in 1710… sorry, when I joined Capco in 2010, I would have never thought that I would still be around then years later. But, to be honest, this is also the reason why I joined this firm: I had no clue where I would be in ten years, but I felt Capco could be a good place to figure it out.
I’ve never considered Capco as a company where everything was going to be settled and where I would have a clear career path with certainty regarding what I would be doing during the next 18 months. It is by design a place where anyone can do anything and get all the support, they need to achieve it. For me, this included launching a new office in Asia, building a new practice in Switzerland, getting funding for CSR and even finding some time to go on a road trip with my wife and kids (and leave the responsibility of running the business to the other Partners and the teams.
I have spent the last ten years with this company and enjoyed the show of an ever-changing business full of talented, interesting people full of ideas and the capacity to implement them.
To be honest, I never thought I would ever land a design job in financial services. When I started my career over ten years ago, banks and banking products were anything but digital and far from being “user-centric designed”.
However, over the last few years, the industry has dramatically changed. The attention has shifted to meeting user needs, and these expectations are becoming increasingly relevant for business. The way we search for, find and consume our products and services has been completely transformed by the leading tech giants and, as customers, we now expect our bank to offer the same convenient user-centric solutions we experience with services like Google, Amazon, Netflix and so on.
Whilst the banking industry has arrived late in this regard compared to others, it’s now offering designers an opportunity to benefit from the momentum present to transform businesses and disrupt the relationship we have with our money. As a designer, there is nothing more satisfying than having the opportunity to ideate and shape products that could impact millions of users in their everyday lives.
Together with Capco, I’m looking forward to contributing to what financial services must perceive to be a new industrial revolution, and to shaping the future of a more transparent, open and user-friendly banking industry.
It is very important to Capco Switzerland to support groups and organizations that give something back and we are proud to have doubled the number of members of our CSR team in 2019.
We have been supporting Copalana in its growth story, by sponsoring a total of 25 pro bono consulting days during which we provided change support (i.e. creation of business cases, pitch collateral and support through pitch partnering).
Secondly, we aimed to raise a substantial amount of money for three dedicated Amref Switzerland project through employee-driven activities. The fundraising campaigns went live by mid-October of last year and continues until January 2020. Our team showcased remarkable effort and deep commitment, raising a total of 1861 CHF which will result in nearly 2800 CHF thanks to Capco Corporate Matching. We are proud of this achievement and our team’s hard work.
On 3 March 2020, together with experts from our partners Mambu and Backbase, Capco’s Oliver Geiseler, Andrea Hoffmann, and André Brunner hosted the second business breakfast in Zurich, which is part of our roadshow series featuring events in Germany, Switzerland, and Austria. We are delighted to have welcomed 30 external guests to our Zurich office. The presentations on the topic of “how to build a digital bank from scratch” were followed by lively discussions, exchanges and plenty of networking, and we received very positive feedback.
We are extremely proud to have such talented people at Capco and be able to work with them every day.
To celebrate, in June 2019 we hosted our summer party in the Zurich and Geneva offices. Accompanied by sunny and hot weather, we enjoyed our evening together. In Zurich, we had a barbeque until late in the evening at Bauschänzli and some colleagues went to Mascotte afterwards. The Geneva colleagues enjoyed wine tasting followed by a delicious dinner at the Umami restaurant.
The highlight of last year was the Local Employee Forum in Milan. It was a fantastic opportunity for everyone to assemble and spend some quality time together. We enjoyed plenty of team building activities, nice restaurants, and some good music and dancing to round off the evening.
To continue growing internationally as well as nationally, we are hiring new talent.
If you or anyone from your networks is considering a career change, we would be excited to meet you and/or your interested contacts, and discuss relevant opportunities. You can find more information about open positions and careers at Capco here. Last but not least, our alumni referral bonus scheme continues to apply. Should you have any questions on the referral scheme, please don’t hesitate to contact email@example.com.