Indosuez Wealth Management and Capgemini have joined forces to develop a unique technology and banking operations platform for wealth managers and private banks worldwide.

The new offering will be developed on the framework of S2i, the existing Crédit Agricole Private Banking Services (CA-PBS) proprietary end-to-end platform. It will leverage the strong banking and regulatory knowledge of Indosuez Wealth Management combined with Capgemini’s leading IT services and digital transformation expertise, Indosuez said.

CA-PBS was created in 1992 at the heart of Indosuez and has since been a pioneer in outsourced banking services. Today, it offers services to 30 private banks in 11 countries, mainly in Europe and Asia, and manages total assets of 150 billion Swiss francs, up by 30 percent in 2017.

Capgemini will be the IT and digital transformation services partner and will help to further develop and expand CA-PBS’s current offering, as well as support the update and acceleration of the delivery model.

The market for wealth management banking technology solutions, namely for digital banking, outsourcing and Software as a Service (SaaS) is expected to grow more than 30 percent by 2020 due to the increasingly complex regulatory environment private banks and wealth managers are facing, together with the need for them to simplify their processes and cut costs.

Paul de Leusse, Chief Executive Officer of the Indosuez Wealth Management, said: “By joining forces with Capgemini, we are confident that we can set a new global benchmark in terms of banking technology in the wealth management sector.”

Thierry Delaporte, Chief Operating Officer at Capgemini, added: “We are delighted to take this next strategic step together with Indosuez to create a new offering that will serve our wealth management clients’ technology needs across the globe.”

CFM Indosuez Wealth Management was named Best Bank in Monaco by the international magazine Global Finance in its 2017 awards.