Indosuez Wealth Management and Capgemini are to join forces to develop a technology and banking operations platform for wealth managers and private banks.
The new offering will be developed on the framework of S2i, the existing Crédit Agricole Private Banking Services (CA-PBS) proprietary end-to-end platform. It will leverage the banking and regulatory knowledge of Indosuez Wealth Management combined with Capgemini’s IT and digital transformation services.
CA-PBS was created in 1992, providing outsourced banking services to 30 private banks in 11 countries, mainly in Europe and Asia, and manages total assets of CHF 150 billion, up 30 percent in 2017. Capgemini will be the IT and digital transformation services partner and will help to further develop and expand CA-PBS’s current offering, as well as support the update and acceleration of the delivery model.
The market for ‘wealth management’ banking technology solutions, namely for digital banking, outsourcing and Software as a Service (SaaS) is expected to grow more than 30 percent by 2020, according to Indosuez. This is due to the increasingly complex regulatory environment private banks and wealth managers are facing, together with the need for them to simplify their processes and cut costs.
Indosuez Wealth Management is the global wealth management brand of Crédit Agricole group with 3,110 employees in 14 countries around the world and EUR 118 billion in assets under management as at 31 December 2017.
Capgemini provides consulting, technology services and digital transformation through its 200,000 team members in over 40 countries. The group reported 2017 global revenues of EUR 12.8 billion.