Done deed. Capco masters a massive transformation of a global wealth manager

Capco transforms a global wealth management client — reducing costs, improving capabilities, and increasing regulatory compliance.

In the wake of the 2008 financial crisis, Capco's team moved a global wealth management organization from a self-clearing model to a fully disclosed model. In just 18 months we transformed our client and prepared them for the dramatic changes in the industry. Quite a feat.

 What happens when an overnight conversion brings two diverse platforms together in the midst of the 2008 financial crisis? Exactly what you’d expect: Total disorder.

 Our client—a multinational banking and financial services company—bravely converged its platform after the collapse of major players in the industry. It was an uncoordinated system that couldn’t keep up with the new regulatory landscape and didn't meet the new regulations enacted to stabilize the crisis.

 What did our client need to drive forward and face the chaos? A game changing move—outsourcing their balance sheet, technology, and operations to a third party. They needed a champion vendor to take on the responsibilities of the new platforms and meet the new regulations.

 Capco catapulted our client to be a leader in the industry. How?

  • We coordinated the RFP process to evaluate the vendors and ensure our client's current and future needs would be met.
  • We conducted a comprehensive gap analysis, determining what the two firms needed from each other, while meeting regulatory requirements.
  • We constructed functionality to ensure the new systems would communicate effectively.
  • We unleashed a team of wealth, technology and capital markets experts to serve as project leads, business analysts, technical analysts, conversion specialists, and testers.
  • We created a detailed overview of the future-state processes and procedures, and the target operating model.
  • We took our client from a self-clearing model to a fully disclosed model.
  • We transferred our client's massive operations and data to the vendor's platform successfully and on time.