HOT ON THE STREET
Even Apple is doing it
It's all about ecosystems
With news out his week that Apple inked a JV with IBM, Steve Jobs must have rolled over in his early grave as his sleek, model start-up mated with a conglomerate he once referred to as representing the “computer Dark Ages.” And yet, even with its unparalleled front end innovation, Apple conceded that, for cloud computing and security expertise, it should partner with IBM’s top-tier talent in that space. As a business in the constantly evolving, technology driven world in which we live, it is simply impossible not to understand what you’re good at, and collaborate with those best at whatever else it is you need. It’s all about eco-systems, and these new structures are reshaping how companies work together across the economy and increasingly in the financial industry.
Banks are working hard to understand what businesses they’re best at and where they need help to stay competitive. This process is changing retail banking. Forced on the one hand to assess and deliver a dizzying array of new product demands from digital customers, and on the other to tackle weighty issues with legacy systems and processes, banks are reaching out to cutting edge innovators and fintech suppliers to try to stay ahead of the curve. Young banking customers are a fickle lot and customer loyalty is on the line, as is market share, if they don’t get their solutions right.
At Capco, we are building our own ecosystem to insure we can help support the type of eco-systems our banking clients will need, to design and deliver the solutions that will save their banks. With our Open Concept Banking methodology, we leverage our relationships with both Bold Rocket and FIS to meet the future banking needs of our clients head on. Bringing these various cultures together under one roof allows disruptive methodologies and technologies on the one hand, and the nuts and bolts innovation needs to work, on the other, all aligned by a seamless and agile change proficiency . Capco works with retail banks to create a strategy and design process that enables the production of solutions that show results, and best capture the opportunities banks have to service rising customer expectations in an increasingly complex world.