Payments and cards
The digital euro is the first digital central bank currency in the euro area. As a state-guaranteed, digital means of payment, it complements cash and existing payment instruments and is intended to be used throughout Europe, both online and offline.
For banks, payment service providers, merchants and other market participants, this means much more than just another regulatory requirement. The digital euro will influence existing payment transaction architectures, customer interfaces and value chains . Institutions are faced with the task of interpreting regulatory requirements and integrating the digital euro into their business and operating models strategically.
Our range of service
Capco and Wipro provide financial institutions and companies with holistic support on their way to the digital euro integration. We combine regulatory expertise, in-depth payment transaction know-how and extensive transformation experience with strong technological implementation expertise.
Together, we support the introduction of the digital euro from the initial classification and the development of viable target models through to technical implementation and operation of effective solutions. The focus is on strategic relevance, regulatory compliance and operational efficiency.
What to do now
Selection of suitable partners and solutions
Not all requirements relating to the digital euro have to be implemented by the firm. From connection to the Digital Euro Service Platform (DESP), wallet solutions to reporting and reconciliation processes, the selection of suitable partners and ready-made solutions is a key success factor for efficient and scalable implementation.
Conception and target architecture
The regulatory requirements for the digital euro must be translated into concrete business and technical requirements at an early stage. As part of a gap analysis, existing payment transaction architectures must be evaluated, necessary extensions identified and an integrated target state developed. The aim is an efficient and sustainable integration of the digital euro into existing processes and systems. In some cases, this may also require the definition and implementation of a fundamentally new payment transaction target models.
Impact analysis on business model and organization
The digital euro has an impact on existing products, processes and responsibilities. These effects should be analyzed at an early stage in order to minimize risks and exploit opportunities in a targeted manner. At the same time, adjustments in governance, organization and operating model are to be expected, and must be actively shaped.
Related content
You can find more in-depth insights and current assessmentsof the digital euro in our Capco Intelligence articles
Contact us
Capco and Wipro support you in strategically evaluating the introduction of the digital euro and implementing it operationally. Contact us to discuss concrete implications for your business model, architecture and organization.
Our experts combine regulatory understanding, payment transaction expertise and implementation experience from numerous transformation projects.
