Following the acquisition of an international wealth management unit with single and multi-family office clients, a leading Tier-1 bank faced the challenge of modernizing their payment and reporting capabilities. The bank’s Electronic Banking Internet Communication Standard (EBICS) processes existed only for reporting via the corporate entity of the bank, while the new EBICS connection for clients was required for payments and reporting via the wealth management systems.
Capco supported the bank in designing and implementing a secure, standardized EBICS connection. The objective was to enable automated payment initiation and machine-readable account statement delivery, meeting both regulatory requirements and the high operational standards of sophisticated family office clients.
Why now?
Family offices are increasingly required to manage complex treasury, reporting and multi-banking structures while meeting growing expectations around efficiency, transparency and security. At the same time, banks are under pressure to offer scalable, compliant and industry-standard interfaces that integrate seamlessly with client systems.
EBICS has become the established European standard for secure payment communication and reporting.
The acquisition of the wealth management unit created an immediate need to harmonize legacy processes and introduce a future-proof solution that would support client growth and strengthen the bank’s competitive position in the high-end wealth management market.
How we did it
Capco delivered the engagement end-to-end, from initial concept through to testing and rollout, working closely with business and technology stakeholders across the bank.
Key steps and milestones included:
- Concept and design: definition of a target operating model for a standardized EBICS offering for single and multi-family offices (including the specification of supported EBICS order types such as pain.001, camt.052/053 and MT940/942)
- Technical implementation: integration of the EBICS server into the bank’s existing payment platform and connection to core banking systems for booking, limit checks and account statement provisioning
- Testing and rollout: planning and execution of system integration testing (SIT), user acceptance testing (UAT) and pilot phases with selected family office clients
- Onboarding: in parallel, Capco developed a standardized onboarding approach, including documentation, training materials and communication packages.
The project ran over several months, requiring close collaboration across IT, payments, operations, compliance and client-facing teams. During delivery, additional requirements emerged from the bank’s pilot clients, leading to a controlled extension of scope and the onboarding of further Capco experts to ensure timely and high-quality delivery.
What we delivered
Capco transformed a fragmented, partially manual setup into a scalable, secure and fully automated payment and reporting solution.
Key outcomes and benefits included:
- For the bank:
- Efficient, digitalized payment processes with significantly reduced manual intervention
- Lower operational risk exposure and improved auditability and compliance
- A scalable EBICS offering supporting growth in the family office and high-net-worth client segment
- Strengthened market position in the international wealth management space.
- For corporates and family offices:
- Secure, fully integrated payment connectivity via an established industry standard (EBICS)
- Automated, machine-readable account statements enabling streamlined reporting, consolidation and multi-banking
- Faster processing times, higher straight-through-processing rates and reduced operational costs.
Capco deliverables included:
- Business and technical target architectures
- EBICS order type definitions and end-to-end process designs
- Testing strategies, rollout and pilot plans
- Standardized onboarding, training and client communication materials.
The success of the initiative led to follow-on engagements, with Capco continuing to support the client on further payment and wealth management transformation initiatives.