By consolidating its financial services business across the globe and acquiring Kanbay in 2007, Capgemini was among the first organisations to quickly mobilise diverse teams using a global delivery model, and to optimise both complicated business and IT processes, in banking insurance and capital markets. By 2015, Capgemini’s Financial Services group had nearly doubled to €2.9 billion and is now on a trajectory for ambitious growth. Today, Capgemini Financial Services is positioned as the strategy transformation partner to two-thirds of the world’s leading banks, insurers, and capital markets firms and represents 24% of Capgemini’s 2015 revenue.
“To achieve this,” Head of Capgemini Financial Services, Thierry Delaporte explains, “we had to transform ourselves radically; we’ve industrialised delivery centres, invested in digital and cloud services, and brought together regional teams to work seamlessly across borders while making significant investments in processes that help our clients transform and manage compliance in highly disruptive markets.”
When Thierry became head of Capgemini Financial Services, he had a few main objectives. “One was to drive aggressive growth — we always look at achieving double-digit growth — but not just growth for growth’s sake.
We want to be number one in financial services, but more importantly we want to capitalise on our ability to be change agents for our clients in an industry that is constantly evolving.” Over the past 10 years, financial institutions have faced unprecedented challenges. The global financial markets experienced significant downturns starting in 2008, and some regions were slow to recover. Coming out of the financial crisis, regulatory bodies across the world put into place more stringent checks and balances that require significant investments in IT systems. More recently, as customers around the world have embraced digital and mobile, the sector is under threat by fintechs.