Paris, March 08, 2018 – Indosuez Wealth Management, the global wealth management brand of the Crédit Agricole Group, and Capgemini today announced their intent to join forces to develop a unique technology and banking operations platform.
The new offering will be developed on the framework of S2i, the existing Crédit Agricole Private Banking Services (CA-PBS) proprietary end-to-end platform. It will leverage the strong banking and regulatory knowledge of Indosuez Wealth Management combined with Capgemini’s leading IT services and digital transformation expertise.
CA-PBS was created in 1992 at the heart of Indosuez and has since been a pioneer in outsourced banking services. Today, it offers services to 30 private banks in 11 countries, mainly in Europe and Asia, and manages total assets of 150 billion Swiss francs, up +30% in 2017. Capgemini will be the IT and digital transformation services partner and will help to further develop and expand CA-PBS’s current offering, as well as support the update and acceleration of the delivery model. The future partnership further strengthens the existing working relationship between the two companies.
The market for ‘wealth management’ banking technology solutions, namely for digital banking, outsourcing and Software as a Service (SaaS) is expected to grow more than 30% by 20201. This is due to the increasingly complex regulatory environment private banks and wealth managers are facing, together with the need for them to simplify their processes and cut costs.
Paul de Leusse, Chief Executive Officer of the Indosuez Wealth Management, commented, “This exciting new business will be focused on supporting the ongoing digital and operational transformation of leading wealth management firms worldwide, taking into account the regulatory complexities and high-quality transactional execution requirements facing the industry. This agreement is based on the complementary expertise of our two organizations as well as CA-PBS’s unique understanding of the sector gained from its 25-year history. By joining forces with Capgemini, we are confident that we can set a new global benchmark in terms of banking technology in the wealth management sector.”
Thierry Delaporte, Chief Operating Officer at Capgemini, added, “Capgemini has proven experience delivering strong business transformation results in the wealth management market, and a long term working partnership with the Crédit Agricole Group. We are delighted to take this next strategic step together with Indosuez to create a new offering that will serve our wealth management clients’ technology needs across the globe.”
Indosuez Press contacts:
Tel.:+33 1 43 23 26 94
Tel.:+41 58 321 9597
Capgemini Press contact:
Tel.:++44 370 904 3601
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At 31/12/14, in billions of euros
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