Capgemini announced that it has been named a Leader and Star Performer in Banking and Financial Services (BFS) risk and compliance IT services in the just released Everest Group PEAK Matrix 2020 assessment entitled “Building Cloud-based Data Infrastructure for Intelligent Real-time Controls.” Capgemini was recognized in the assessment for its steady growth due to a strong partner ecosystem across government, risk and compliance, financial crime, and cyber and data security, and expansion of its business in risk and compliance in North America. It also was noted in the assessment that Capgemini’s differentiated solutions such as cognitive document processing, layered with domain ontology, help drive better time-to-market for clients and address pain points.
“Building Cloud-based Data Infrastructure for Intelligent Real-time Controls.”
“BFS enterprises are experiencing unprecedented headwinds due to increasing regulatory pressure, emerging risks, rising cost of compliance, and a re-evaluation of risk appetite, associated data, and reporting systems to comply with government-enforced stimuli. BFS firms need a resilient, scalable, agile, and flexible risk management and regulatory reporting architecture to manage the current situation,” said Ronak Doshi, Vice President, Everest Group. “Capgemini has been able to strengthen its market positioning and earn a Leader and Star Performer recognition on the Everest Group BFS Risk and Compliance IT Services PEAK Matrix Assessment 2020, due to its market success driven by collaborative go-to-market efforts with third-party providers such as AxiomSL and MetricStream, robust capabilities across all major risk and compliance functions through a wide partnership ecosystem, and talent-related investments to certify resources across financial crime themes.”
BFS firms are witnessing regulatory changes across cybersecurity, data privacy, enterprise risk, financial crime and financial risk management. The industry has not witnessed change of this magnitude since the Volcker reforms and the Dodd Frank Act2, post the 2008 economic crisis. “On top of the momentous change the BFS industry has been experiencing from regulation, the industry now needs to adapt to the needs of the current and post COVID-19 world. Agility, resilience, flexibility and scalability will be required to find the sweet spot of being compliant, managing risk and providing optimal, exciting customer experience. Capgemini’s goal is to focus on addressing these needs along with strategic partners to deliver forward-thinking solutions for our clients,” said Kartik Ramakrishnan, Managing Director, Banking and Capital Markets, Capgemini’s Financial Services.