Delta Capita to bring Citi's QMA solution to banking sector
Global banking institution Citi has sold its in-house solution for digital communications workflow management (QMA) to Delta Capita, as part of their dual aim to scale and commercialise the product across the banking industry.
Developed internally by Citi, QMA is an intelligent workflow management tool specifically designed to enable operations and service teams to seamlessly manage and prioritise high volumes of email, chat and other digital communications.
QMA is currently used by Citi’s teams in over 60 countries, and has over the years helped the bank “deliver measurable improvements to client experience through enhanced response quality and times” and “a significant reduction in email volumes through auto-assignment and intelligent responses.”
“We developed QMA because we saw there was a gap in the solutions available for our team to manage workflow across communication channels,” explained Jon Lofthouse, Head of Markets Technology at Citi.
Having seen QMA in action, consultants from Delta Capita identified the solution as a market leading tech offering, serving a domain that is currently underserved by external providers.
Emily Turner, Head of Business Development for Citi’s Institutional Clients Group stated, “For certain products and services, our first choice is very much to partner with external companies, but it is not always possible to find solutions in the market. This was the case for QMA and as a result we built a market leading, innovative solution.”
Teaming up, Citi and Delta Capita will now scale and commercialise the solution with the aim for QMA to become an industry wide solution, said Joe Channer, the CEO of Delta Capita.
As part of the joint venture, Delta Capita has taken a majority share in QMA, while Citi will continue as an investor and user of the solution. Channer: “Thanks to this partnership approach, QMA will be developed into an industry wide, scalable product allowing multiple clients to leverage its capabilities whilst benefiting from a price and efficiency that can’t be achieved by any one bank developing it on their own.”
Lofthouse: “We believe the development of QMA will be well served by Delta Capita’s forward-thinking perspective and we look forward to seeing it expand beyond Citi and into the financial services industry.”
The deal is part of Delta Capita’s continued commitment to deploy capital for commercialising proprietary technology assets. The firm already has specialist solutions and managed services offerings across domains such as client lifecycle management, know your customer, derivatives and structured products, post-trade, market infrastructure, and risk management.
Earlier this year, Delta Capita was named one of the UK’s leading consulting firms in the financial services industry.
