Capco partners with data analytics platform Envizage

Global consultancy Capco has announced a new partnership with London-based analytics software provider Envizage. The partnership will see the two companies working together to deliver the benefits of Envizage’s simulation-based holistic advice engine for financial services.

Established by three former Morgan Stanley partners, Envizage is a FinTech which works with banks, insurers, pension funds, and retail asset managers, providing API software for its clients to build applications for their customers. An Application Programming Interface (API) is a software intermediary that allows two applications to talk to each other.

Envisage API is used by clients around the world, as an ‘advice engine’ which can help simulate ‘real life’ outcome risks across different customer age groups, from millennials to retirees, using probabilities based on a range of factors, including inflation, longevity, mortality, health and liquidity.

With a growing client portfolio comprising of over 100 global organisations, meanwhile, Capco is a global technology and management consultancy specialising in driving digital transformation in the financial services industry. The firm has forged a new partnership with Envisage motivated by the latter’s ability to use data analytics to improve financial awareness and planning for customers.

According to a release from the firm, helping businesses improve customer personalisation and cross-selling through different channels – mobile, desktop, contact centre agents or advisors – was particularly compelling given Capco’s focus across insurance and banking markets.

Matt Hutchins, Partner and Insurance Lead at Capco, said, “Envizage offers one digital foundation across many products, channels and countries. This is a highly complementary partnership from Capco’s perspective in terms of our respective areas of industry focus and our data and digital capabilities.”

At the same time, Capco’s domain expertise, broad delivery capabilities and strong relationships with leading financial services organisations was the chief motivator for Envizage to enter the partnership, as it looks to deliver value to clients across the banking, insurance, retail investment and wealth management, pensions and at-retirement sectors. With millions of people around the world currently seeking to plan for the future in uncertain times, it is hoped that Capco’s reach will help Envisage find new markets keen to tap its technology.

Vinay Jayaram, CEO and Co-founder at Envizage, commented, “Envizage is delighted to announce this new partnership… We look forward to working with Capco to address that disconnect and to drive a step-change in financial planning, customer personalisation and cross-selling opportunities for our mutual clients.”

The news comes a week after Capco was acquired by Wipro in a $1.5 billion deal, adding over 5,000 business and technology consultants to its financial services practice. Combined with Wipro’s capabilities in digital transformation, cloud, cybersecurity, IT and operations, the move is said to have created one of the largest “end-to-end global consulting, technology and transformation service providers to the financial services industry globally.”