Building on its Hong Kong operation, Capco, the business and technology consultancy specializing in financial services, is expanding into Singapore with the launch of a new office to meet growing regional demand, officials say.
The Singapore operation will be led by recently appointed Capco Partners Bao-Viet Lê and Charles Bokman. Bokman will oversee wealth management consulting while Lê will lead the banking practice in Singapore, officials say.
Capco’s Singapore team will focus on client challenges across the region including know your customer (KYC), global payments transformation and regulatory initiatives.
“The financial industry worldwide needs a trusted partner with deep knowledge to help them deal effectively with a range of issues, from tackling regulatory complexity to effective client onboarding and anti-money laundering,” says Bokman in a prepared statement.
The new office offers a wide range of capability, from high-net-worth customer banking expertise and digital banking experience development, to the entire core banking platform upgrades and renewals that are taking place in growing numbers through the region, officials say. “Now based in Singapore, Capco is ideally positioned to support global financial institutions as many look to run pilots of their global programs across Asia,” according to the Capco statement.
Capco officials say their near-term ambition is “to replicate the rapid success of the Hong Kong office, which has expanded exponentially as the result of singular focus on the financial industry and highly successful support of clients.”
Peter Schurau, executive FIS and CEO, Capco Europe and APAC, said that the consultancy’s “experience in Hong Kong strongly validates our commitment to Asia Pacific,” in a prepared statement. “This is clearly a region of continuing growth opportunities and, looking beyond Singapore, we already have a strong presence in Thailand. Given the existing profiles in these markets of our parent company, FIS, and Clear2Pay (acquired by FIS in late 2014) there is every reason to believe we will continue our expansion to Australasia. Senior appointments of the caliber of Bao-Viet Lê and Chuck Bokman will accelerate that process.”
Lê has two decades of consulting practice focused on the banking industry, as well as eight years of experience in payments, officials say. He previously worked for another global consultancy, having held the role of sales lead across emerging markets (Russia, Saudi Arabia) and acting as client account lead for several pan-European banks as a deal-shaper of large transformation programs covering Europe, Russia and Asia.
Bokman also has 20 years’ consulting experience, focused on wealth management transformation projects ranging from core banking replacement to digital strategy, officials say. He has worked with most of the major financial industry organizations across Switzerland, Europe, and Asia. His specific focus includes designing target operating models, regulatory compliance issues, providing portals/tools for RMs and enhancing data security.
Capco was acquired by banking and payments technology vendor FIS in December 2010.
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