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Digital and API banking
In a data-driven world,banks must offer innovation that matches customers' appetite for relevant banking experiences. They need to do this in collaboration with nimble specialist players and in the context of complex legacy systems.
Capco believes that the API economy is the best way to deliver superior digital services and allow banks to overcome legacy technology challenges. We match the depth of our banking industry expertise with the breadth of our vendor network to deliver cost-effective innovation to banks.
Digital and API banking.
For years, banks struggled to decide between “IT first” – offering an enhanced range of banking products and services – and “bank first” – continuously upgrading their operating technology. Today, the choice is no longer binary. Banking is moving in a new direction – to “customer first” – and a new industry concept – the API economy – is enabling the transition.
The application programming interface (API) economy enables banks with various levels of technical sophistication to exchange data in multiple ways. This extends their ability to deploy and market emerging new products and services to customers.
In practice, the API economy forms an infrastructure within banks that can access a whole network of outside specialist technology players. Banks can collaborate securely with these players to evolve their product and service offerings. As a result, banks win new business by promoting and proving the value of innovation to their customers, and delivering leading-edge products and services, while staying within sensible limits of cost and risk exposure.
Capco Digital supports banking clients in creating the infrastructure they need to work effectively through the API economy, overcoming the limitations of legacy core systems. We can help source and broker introductions to digital market leaders. We also nurture innovative concepts, turning them into delivered reality for our clients. In today’s data-driven, customer-first marketplace, successfully engaging with the API economy is a requirement for providing relevant banking products and services.
Digital wealth and digital trust.
Wealth management is experiencing fundamental shift: The impact and relentless pace of technological innovation and evolving customer expectations are eroding large financial institution dominance. A significant number of new entrants have entered the market, and they are true challengers. Far from replicating existing wealth management models and offers, their mission is to provide an innovative and trusted digital experience to a new generation of customers.
Faced with inevitable change, traditional banks, wealth and asset managers and trust companies all must adapt. Their evolution will result in exciting new abilities. They, too, will offer digital channels, experiences and products that fit evolving customer needs across their life events.
Capco Digital is perfectly positioned to help organizations shape and implement a digital strategy ready for the challenges and opportunities of the new wealth management landscape – a strategy that spans the total customer experience, along with the channels, technology, operations and vendor solutions needed to deliver it.
Embracing digital change also brings new products and services to underserved customer profiles and helps grow advisory and self-service business while cutting overall operating costs with straight-through-processing and process automation.
Capco Digital’s Wealth practice focuses on four key areas:
Digital wealth and digital trust
Today's wealth management is a transformed business, serving a much broader range of customer needs than ever before. Technoloigcal innovation has advanced customer demand, disrupting business as usual. New entrants are remodelling the industry through fresh client service models and new product delivery experiences.
Capco helps wealth managers shape their now-crucial digital wealth strategy and supports its effective implementation. Additionally, we recognize that trust remains the foundation of the digital wealth management paradigm and lead the industry with our Digital Trust framework.
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