Capco, a digital consultancy focusing on the financial services sector, has added Concentra Bank to its list of clients for PlatformZeroSM, a cloud-based, digital and automation solution.
Founded in 2005 through the combination of SaskCentral and Cooperative Trust, Concentra delivers wholesale banking and trust solutions to credit unions in Canada.
Concentra became a Schedule 1 bank in 2017, and is the 13th largest such bank in Canada. As of 2017, the bank had $9.4 billion in assets and served over 85% of Canadian credit unions. Headquartered in Saskatoon, Concentra has further offices in Regina, Toronto, and Surrey, and has more than 300 employees.
Concentra will now leverage Capco’s new PlatformZeroSM solution, which is designed to increase efficiency and streamline back-office processes – freeing up staff and other resources.
“PlatformZero enables us to redeploy almost 40% of our staff in targeted areas to support new businesses and develop new skills,” said Neal Oswald, COO of Concentra. “It also supports our existing processes. We are excited to have this opportunity to work with Capco as a charter client to help shape PlatformZero’s future development and direction.”
The process automation platform gives access to financial services applications that create a unified customer/advisor experience and digitize transactions. The platform is API-enabled and integrates with channel systems, and provides process analytics, continuous improvement, and productivity tools.
According to Capco, PlatformZero has a time-to-market of 4-6 months, and can deliver operational efficiency improvement of more than 50%.
“PlatformZero draws upon the deep expertise Capco has built up over our 20-plus year history of providing leading-edge consulting and developing technology solutions for financial services clients,” said Bhanu Kohli, a partner at Capco. “Fully customizable and in the cloud with zero footprint, PlatformZero’s wide range of digital, automation, and integration features enhance productivity and generate significant cost and delivery risk reductions for banking, wealth and insurance clients.”
Headquartered in London, Capco has more than 5,000 employees across offices in the Americas, Europe, and Asia-Pacific. The consulting firm has one Canadian office in Toronto.