Capco supports Banco Bradesco with new digital banking platform
Brazilian bank Banco Bradesco has successfully launched a new digital banking platform. The new hub, dubbed ‘Next’, is a leap forward from the bank’s former approach and legacy system, and is designed to appeal to the next generation of banking customers. The programme was supported by management and technology consultants from Capco.
With revenues of $50 billion and an asset base of over $410 billion, Banco Bradesco is one of the largest banking and financial services companies in Brazil. In a bid to better serve the changing demands of customers, who are demanding omni-channel services, 24x7 availability and a better user experience across their touchpoints with banks, Banco Bradesco recently launched a new digital strategy.
One component of the strategy is to improve its connection with hyper-connected digital millennial customers, through among others offering more personalised, transparent experiences and differentiated banking products. The Brazilian bank has developed ‘Next’, a next generation banking platform, to deliver on the promise. By using the Next app (available for iOS and Android devices), customers can now open an account from their phones, as opposed to needing to visit one of the banks’ 5,300 branches across the country. The app also allows clients to send money and split payments with friends, keep track of their spending and manage their money more efficiently, as well as provides access to tips and advice on more complex financial matters.
Implementation of the platform was realised in collaboration with Capco, a global consulting firm that Bradesco selected as its strategic technology partner for the transition. Capco, which in May this year became an independent company after operating for years under the wings of FIS, was tapped for the engagement largely based on its global experience in digital banking and platform development, said a spokesperson of the bank.
“Capco and Bradesco have a shared vision of rapidly delivering personalised digital capabilities to new customer segments,” said Ranjit Palkar, Capco’s Global Technology Delivery Partner who is co-leading this engagement. Lynn Hughes, Capco Global Technology Delivery Partner, added: “Our collaboration is an important milestone whereby our global experience and the bank’s commitment to being at the forefront of digitisation has resulted in a truly differentiated banking experience for the digital millennials.”
Guido Tamburini, Managing Partner of Capco’s North America region, added, “We’re honoured to collaborate with Banco Bradesco in this disruptive effort to build the future of banking in Brazil. The Next project is an ideal showcase for our capabilities in the Brazilian market.”
On the back of the large engagement, and its wider ambitions in the Brazilian market, Capco recently opened an office in São Paulo.
