New Capgemini incubator matches FinTechs with corporates

02 January 2017 Consultancy.uk

Capgemini has developed a new initiatives to better support financial services players work together with FinTechs. The firm’s offering includes identifying strong candidates on behalf of clients, applying its expertise for due diligence, and supporting them with integrating FinTechs within their organisation and wider ecosystem.

FinTech continues to tantalise the financial services industry with its potential to disrupt market segments, and even entire markets. Traditional financial firms are increasingly concerned about the significant disruption threat, but also see opportunities – particularly as independent vehicles for innovation. FinTechs too are interested in entering into relationships with traditional players, eyeing their large capital, and client books, as key to rapid scalability.

In recent years, the consultancy industry has sought to carve a bridge between FinTechs and incumbents by creating environments that are conducive to the development of promising financial technology, as well as offering them with propositions which may act as springboards for further engagement and consulting work.

Capgemini recently released a report into the development of the FinTech industry, finding that more than 73% of surveyed financial services industry executives are keen to enter into partnerships/collaboration with FinTechs, while another report from Roland Berger correspondingly found that, at the other side of the table, 86% of FinTechs are keen to enter into collaboration with traditional players.

New Capgemini incubator matches FinTechs with corporates

To bring the two together, Capgemini has launched a new global initiative to fast track FinTech engagements with or within its global financial services clients. The initiative leverages the firm’s domain and integration expertise to scan, select, and evolve FinTech innovation for its clients.

The new centre, the firm believes, offers a different proposition to the traditional incubator approach; focusing more on grooming FinTechs for integration with financial services clients, by leveraging the firm’s considerable resources to direct the development of promising startups. The incubator is open to the full gamut of FinTechs, and to support execution, the professional services giant will leverage its wider global network of Applied Innovation Exchanges (AIEs), discovery centers and related assets.

According to data from professional services firm KPMG and CB Insights, investments into FinTechs globally soared to $19 billion last year, up considerably on the year previous.

Thierry Delaporte, Head of Capgemini’s Global Financial Services Business Unit, says, "Be it generating exceptional customer experience or improving operational efficiencies, FInTech innovation is a catalyst to the industry. As the pace of innovation with financial services technology accelerates, Capgemini has developed this initiative to connect clients with FinTech innovations and foster agility.”

The firm recently also announced efforts to support the Indian market startup scene, more broadly, with its resources through its Applied Innovation Exchange presence in the country.

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Grey Consulting and Makerversity announce strategic partnership

05 April 2019 Consultancy.uk

Grey Consulting has forged a new alliance with Makerversity, a 500-strong community of the brightest creative innovators, headquartered at Somerset House, London. The partnership hopes to tap into the experimental community to develop pioneering solutions for Grey Consulting’s clients.

In August 2018, one of the world’s largest design agencies surprised the business world by launching a dedicated consulting outfit. The news came as the two industries continued on their trajectory towards a historic synthesis. The consulting industry has been engaged in a pitched battle with the advertising and design space for the past few years, as the former increasingly encroaches on the territory of the latter via a protracted campaign of mergers and acquisitions; but there had been little traffic moving in the other direction.

At its launch, Grey Consulting was not billed as a direct competitor to established consultancies. However, the firm behind the new entity hopes that its creative experience will give it a competitive edge in winning consulting business from its existing clients. The Grey Group is a global advertising and marketing agency with headquarters in New York City, and 432 offices in 96 countries, operating in 154 cities. Grey Consulting opened its doors with a view to aiding clients within the areas of business and brand design, innovation and digital transformations.Grey Consulting and Makerversity announce strategic partnership

Now, as the firm looks to further expand its footprint in the market, Grey Consulting has unveiled details of a ground-breaking new alliance with Makerversity, a 500-strong community of creative innovators headquartered at Somerset House, London. The alignment with Makerversity is hoped to unlock the potential of collaborating with one of the world’s most experimental communities.

Makerversity curates and convenes the best talent across product design, fashion, art and experimental architecture, sustainable materials, IoT, digital manufacturing, and coding. It provides spaces and workshops for professional makers to develop and create their work, supported by Somerset House Trust. The alliance is expected to enable Grey Consulting to develop pioneering solutions for its clients, together with innovators who make something amazing for a living, every day. 

Leo Rayman, Grey Consulting CEO, commented, “This gives our clients the potential to access a network of some of the most diverse and innovative individuals in the world today. Being so tightly connected to a community of makers means we don’t just develop transformational strategies but can quickly realise them in three dimensions. This sets Grey Consulting apart from the pure play strategy houses who are sometimes criticised for not making their thinking real at the pace modern businesses require.” 

Fiona Dent, CEO of Makerversity, added, “Makerversity acts as a catalyst for unexpected encounters, fostering collaborations between an incredible range of the brightest leading creators and innovators. Our experimental approach and engaged members, whose own practice is defining our world, create highly original new outcomes. We are delighted to bring this philosophy to a wider audience and generate interesting projects for Makerversity members through our partnership with Grey Consulting.”