Success Stories: Wealth & Investment Management

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.

Case 01

Private Swiss Bank

Asset manager seeks test management and assessment expertise

Based in Switzerland, this private institution provides banking, asset management and investment fund services throughout Europe. The company also has locations in Hong Kong and the Bahamas.

Confronting challenges
The bank wanted to automate its ordering workflow by installing an order management system to use in financial operations, trading and money orders as well as in subsidiary departments in the United Kingdom and Italy.

The bank’s senior management sought Capco’s opinion regarding the ability for the project to go live as per plan. We conducted a quality review of the integration of the order management system product into the existing core banking platform, addressing blocking or high-risk issues across both parameterization and overall project implementation. This included a heat map of the state of the architecture, processes, tool setup and other areas and discussed risks in the bank’s current implementation plan. The bank also wanted to understand if an implementation based on its plan would constrain future strategies for the asset management business.

Based on the quality of our work, we were later asked to support the project team in two key roles: project management office and test manager, to help close identified issues and improve implementation success. We designed a structured way of testing the order management system, providing test scenarios and a test plan to the client.

Key benefits

  • Rapidly identified key areas that required immediate attention (e.g., would have an impact on future strategy if implemented as is) as well as key blockers for implementation, allowing management to proactively manage risks effectively
  • Introduced a structured methodology for testing activities
  • Successfully deployed portfolios as per revised target
Case 02

Global Private Bank

Financial institution seeks to improve end-to-end account opening process

This leading global banking and financial services company offers financial products and services in major financial centers around the world. Its offerings cover wealth management, retail banking, fund management, corporate finance, risk management and derivatives.

Confronting challenges
The wealth management arm of the bank wanted to improve its account opening process, which was five times longer than its objective since it involved up to five different departments, and had a high and unpredictable standard deviation, making it difficult to manage client expectations.

The financial institution engaged Capco to identify the root causes of the long cycle time, build awareness of the end-to-end process and bottlenecks, and develop solutions for improvement. We began by conducting workshops with key representatives from different departments to review the existing process and brainstorm on efficiency improvements. We combined Lean, Six Sigma and business process management approaches to define and measure various project phases. Our approach centered around data, with key performance indicators and critical-to-quality outputs defined to track process improvements.

To ensure end-to-end responsibility and accountability, as well as long-term sustainability and continuous process efficiency, we created process ownership and process management roles. We also created a centralized account opening team composed of representatives from finance, compliance and the customer service center.

Key benefits

  • Significantly reduced account opening cycle time
  • Introduced clear roles and responsibilities and simplified tasks
  • Saved annual full-time employee costs on an ongoing basis
  • Created a shared understanding of the account opening process end to end throughout the bank
  • Improved customer service
Case 03

U.S. Bank

Capco helps U.S. bank’s wealth business with CRM application and technology assessment

With more than 6,000 locations in the United States, this client offers banking, mortgage, credit card and insurance products to its customers. The wealth management arm consists of more than $100 billion in assets under management.

Confronting Challenges
Our client’s user base was increasing in size and wanted Capco to provide a blueprint for the future state as well as recommendations on how to improve its governance and end-to-end management processes.

We identified productivity and functionality opportunities based on customer relationship management (CRM) and wealth management industry trends. Then, we developed blueprints of the future state business and technical architectures and identified gaps to be addressed. Finally, we recommended a governance process and improvements to the product management and system development processes.

Key Benefits

  • Recommendations to improve efficiency that incorporate best practices
  • Blueprints of the future state conceptual business and technical architectures provide management with the necessary information to create a long-term road map for relationship management system enhancements