Capgemini has acquired 20% stake in Azqore, Indosuez Wealth Management’s subsidiary specialising in technology outsourcing services and banking transactions for the wealth management sector.
This acquisition will further strengthen partnership between Indosuez Wealth Management and Capgemini. The strategic aim of the two groups is to set a global benchmark in technology outsourcing services and banking transactions for the wealth management sector and mid-sized universal banks.
Capgemini’s investment in Azqore will allow the company to accelerate the functional and technological development of its proprietary S2i platform, while expanding its offering for customers to new services such as training and specialised consulting.
Azqore will provide wide range of digital solutions and support wealth management players in their transformation. Capgemini will also contribute to the development of Azqore in Switzerland, Eurozone and Asia, by drawing on its global network of 200,000 employees.
The technology outsourcing and banking transactions market for wealth management companies and private banks is expected to grow by more than 30% by 2020. Azqore’s offering enables banks to significantly reduce their operating costs for technology and banking transactions, in order to invest more efficiently in digital transformation and the quality of the customer experience.
The transaction should be completed by the end of the month.