Citing the need for a simplification of regulatory demands and cost reductions, two market leaders joined forces to create a digital banking platform.
Capgemini will team up with Indosuez Wealth Management to develop a technology and banking operations platform for wealth managers and private banks globally, the consulting firm announced on its website.
The new service is in response to the growing demand for digital banking outsourcing in wealth management which is expected to grow more than 30 percent by 2020, according to a Boston Consulting Group report from 2017.
Technically the new service will be developed on the framework of S2i, the existing Crédit Agricole Private Banking Services proprietary end-to-end platform. Crédit Agricole Private Banking Services is already used by 30 private banks in 11 countries, including by banks in Asia, and manages total assets of 150 billion Swiss francs.
