PETER KENNEDY | Partner (U.K.), Capco
ANIELLO BOVE | Partner (Switzerland), Capco
VIKAS JAIN | Managing Principal (U.S.), Capco
CHESTER MATLOSZ | Managing Principal (U.S.), Capco
AJAYKUMAR UPADHYAY | Managing Principal (U.S.), Capco
FRANK WITTE | Managing Principal (Germany), Capco


The financial services sector is undergoing unprecedented disruption, thanks to a combination of the digital revolution and COVID-19’s social and business upheavals. The collision of these two forces in 2020 and 2021 quickly altered the competitive landscape. Financial services institutions had to become smarter and more nimble, working in new ways with unfamiliar technologies at an unparalleled pace to meet escalating digital demands of clients. Firms also had to deal with increased competition, as fintechs, as well as technology giants, looked to take advantage of uncertain macro and micro economic environments. 

The phrase “inflection point” is often misapplied to characterize various competitive shifts, but we believe it accurately describes what leaders in financial services face today. In this paper, we lay out the industry’s current state as seen through the eyes of practitioners, how cloud technologies are being used as an accelerant to drive growth and return on investment (ROI), and what lies ahead for our clients over the next few years.