Professional services firm Capco has announced a new partnership with NatWest. Advisors from the company will now help the bank to facilitate customer, operational and infrastructure opportunities, as the financial industry moves to adopt a raft of new regulatory standards.
Richard Lewis, head of client service excellence at Capco, said, “We are delighted to bring our long heritage of digital transformation in banking and payments and other financial services industry domains to this collaboration with NatWest. With Bankline Direct Digital, we have helped the bank transition from a complex and capacity-constrained legacy architecture to a scalable launch pad for near real-time connectivity that can accommodate customers’ ever-changing payment, data and regulatory needs.”
The collaboration facilitates customer, operational and infrastructure opportunities through the development of Bankline Direct Digital, the new strategic ISO 20022 compliant cloud-based architecture behind Bankline Direct.
Bankline Direct is a cash management solution for large corporate entities and financial institutions that fully integrates with Treasury Management Systems and Enterprise Resource Planning platforms to automate payment processing and data reconciliation and provide connectivity to UK and European payment schemes. Shifting to the new system will accelerate and streamline the connectivity of financial institutions, ensures long-term regulatory compliance and alignment with global standards, boosts resilience and security, and offers scalability while supporting enhanced decision making and business intelligence.
Jonathan Hall, head of digital, commercial and institutions at NatWest, added, “We are committed to supporting our clients build a better tomorrow today. Given 24/7 e-commerce, the continued rise in mobile and online payments and consumers’ desire for seamless multichannel experiences, treasuries need to automate and optimise back-office processes or risk falling behind. The ongoing evolution of the digital landscape is changing the way our clients want to bank with us and Bankline Direct Digital meets this demand for a more connected, intuitive customer experience and enhanced technology and compliance capabilities.”
Bankline Direct already supports over 500 corporate and institutional clients, offering payment services to four million retail and corporate customers, and Capco is continuing to support NatWest in transitioning those customers to the new architecture. According to a release from the firms, NatWest’s partnership with Capco has already helped the bank improve customer experiences, and comply with UK and European regulatory payment standards – enabling more of our customers to benefit from efficiencies in their financial payments and reporting processes.
Capco, a Wipro company, is a global technology and management consultancy specializing in driving digital transformation in the financial services industry. With a growing client portfolio comprising of over 100 global organizations, Capco recently received a platinum rating in Consultancy.uk’s annual industry rankings.