Success Stories: Banking

When financial services institutions come to us with their challenges, they expect us to cut through complexity and add genuine value. We respond with effective solutions delivered by financial services professionals who are distinguished experts in their fields. Our clients recognize and value the Capco difference – front-line experience, distinctive insights, and a total commitment to success.

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Case 01

Leading Nordic Financial Institution

Comprehensive delivery: Murex MX.3 upgrade and new Murex module-based securities back office

Our client, a leading Nordic financial institution, wanted effective delivery against the following key objectives:

  • Reduction of Operational Risk for both their Securities Finance and Structured Equity trading business, through the implementation of an integrated Front Office-Back Office trading solution.
  • Increased levels of STP, overall improved trade and event handling and significantly reduced manual processes.
  • An integrated trading platform aligned with the client’s IT architecture goal, harmonizing applications, in order to increase staff efficiency and realize cost savings.
  • Enhanced capability of business units to considerably increase business revenues, due to improved ability to deliver client solutions, and the removal of volume caps.

From a systems perspective a major upgrade was needed, as the target functionalities required in the Front but especially the Back Office and Accounting department were only available in the latest version of Murex (version MX 3.1), which was at that time only used in the Front Office (version MX Generation 2000 2.11). The identified functionality gaps in the Back Office had to be closed over the project journey, as the result of a substantial element of new functionality development.

Murex and Capco developed a joint proposal that created a single, fully integrated consulting and delivery team to handle every aspect of this challenging project, from scoping to implementation. Given the architecture change from the MX Generation 2000 platform to the new MX.3 version, the upgrade and the implementation strategy necessitated close planning and the involvement of Murex itself, leveraging the lessons learned from the two other MX.3 upgrade projects still running at that time.

Today, our client is a satisfied user of the new system, with high expectations of, and confidence in, the technology and its functionality. The client has acknowledged the very professional and committed project delivery approach adopted by Murex and Capco team members — an unstoppable determination in the face of considerable complexity.

To learn more details about the project download the full case study.

Case 02

Fortune 100 Firm Completes Large-Scale Consolidation

Firm offers Capco repeat engagement to assist in enterprise-wide process improvement.

This US-based firm provides liquidity in the secondary mortgage market. The firm initiated a program to consolidate off-balance-sheet mortgage-backed securities on its balance sheet.

Capco had previously helped the firm to identify opportunities for process improvement in governance, program execution and reporting; they now asked us to support management decision-making by providing better information, derived from centralized repositories with a single governance model across business units and IT services. This would be a key step in helping to mitigate project risk.

We implemented the recommendations we had made in the earlier engagement, leveraging existing program infrastructure, processes and tools to increase the level of process maturity and extend reporting content.

Benefits

  • Improved project management office (PMO) processes, governance framework, and reporting
  • Program leadership received more timely and accurate information for decision-making
  • Proactively identified and mitigated program risks, enabling timely execution
  • Integrated operational readiness plan and daily monitoring to increase the predictability of outcomes
  • Standards for training guidance improved content; storage in central repository facilitated reusability
  • Financial reporting system provided adjusted calculations for accounting transparency
Case 03

Capco Assesses Value-Added Card Opportunities for Global Payments Organization

Client seeks Capco’s advice on European market opportunities.

Our client wanted to understand what features would appeal to value-added card customers prior to a pan-European launch. They engaged Capco to undertake extensive market analysis.

Our survey detailed current card protection offerings and the size and scope of competitors, and provided a summary of current card offerings. Our research used a combination of quantitative techniques such as market size and revenue, as well as qualitative appraisals.

Benefits

  • Offered the client a comprehensive report on European card offerings and positions
  • Findings and recommendations made to suggest market entry options, proposition constructs and issuer bank requirements
  • Client gained an assessment of overall market attractiveness to use as a basis for making strategic business decisions
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