Capgemini and Efma join forces to match corporates with FinTechs

24 May 2018 Consultancy.uk

With a growing number of FinTech players offering services to traditional financial players, there is an increasing appetite for services helping corporates find the right platform for them. A new partnership sees consulting firm Capgemini and global financial services non-profit Efma join forces to align clients with the FinTechs most suited to their needs.

Financial Technology (FinTech) platforms are increasingly being tapped by the banking sector, as international financial institutions bid to leverage innovative technologies, rather than fall victim to them. Digital disruption had been touted by many experts to see FinTechs eat directly into the market share of long-term market incumbents, however many banks have sought to sidestep this by instead collaborating with FinTechs.

As with many markets, including the consulting industry, the boom in independent digital innovators has led to a rise in the popularity of matchmaking platforms. These platforms allow corporates to search for a service tailored to their needs, while the results they find have a certain level of quality assurance to provide the best value for their money. One such matchmaking platform is part-owned by Boston Consulting Group, which purchased a stake in Opportunity Network in 2016.

Capgemini and Efma join forces to match corporates with FinTechs

With the FinTech market continuing to expand, and clients keen to explore new ways of exploiting this, while minimising the risk of a bad deal, Capgemini and Efma have announced the launch of FinTechVisor, which is designed to bring FinTechs and financial institutions together to collaborate. According to the two organisations behind it, the FinTechVisor portal offers a world-wide networking and collaborative community for FinTechs and financial institutions to become game-changers by co-creating the future of the financial services industry.

Launched at the CCX Forum in London, the portal, which connects financial institutions and FinTechs, will also boast a feature that allows bankers and insurers to rate FinTechs and comment on their solutions, helping users to see how their prospective FinTech’s results stack up against their promises. Another feature sees the portal host an in-site messaging feature, allowing for financial institutions to contact FinTechs directly through the platform, and a ‘FinTech library’ to showcase current FinTech news and trends, as well as stories of successful collaborations.

In order to further provide quality control, the FinTechVisor portal will soon feature Capgemini’s ScaleUp Qualification Program, in which ScaleUps are evaluated by Capgemini to earn their qualification as a FinTech, if they meet the characteristics necessary for sustained business success in collaboration with a large corporate. In order to meet this level of commendation, ScaleUps will need to excel on four criteria – people, finance, business and technology – in order to meet the vision of effective collaboration with a large corporate.

William Sullivan, Head of Market Intelligence at Capgemini, said, “As the financial sector undergoes significant transformation, the vision of the FinTechVisor portal is to create a single point of contact where all players can find their place and be a part of the future. With so many new players offering innovation, traditional financial services organizations need a method to sort through the clutter to find the innovative FinTech partner that is the best match to transform their business.”

Vincent Bastid, CEO of global non-profit Efma – which facilitates networking between decision-makers with over 3,300 brands in 130 countries – added, “The future is now, and with the FinTechVisor portal, financial institutions will have easy access to an extensive array of capabilities, bringing more flexibility and innovation to banks. Capgemini’s ScaleUp Qualification Program will take the portal’s value one step further as Capgemini has been at the forefront of the FinTech collaborative revolution and has the skills to assess what is viable.”

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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.”