Capgemini acquires 20% stake in Azqore

Capgemini has acquired 20% stake in Azqore, Indosuez’s subsidiary specializing in technology outsourcing services and banking transactions for the wealth management sector. Indosuez Wealth Management is a global wealth management brand of Crédit Agricole group.

Thierry Delaporte, Group Executive Board Member & Chief Operating Officer, Capgemini, adds, “Capgemini has demonstrated its leadership in creating value for its clients and enabling both productivity and digital transformation on a global scale. We are thrilled to be taking this new strategic step with Indosuez Wealth Management to consolidate our offer aimed at international clients in the Wealth Management sector.”

This equity investment confirms the strategic ambition of the two groups to set a global benchmark in technology outsourcing services and banking transactions for the wealth management sector and mid-sized universal banks. Following more than five years of successful collaboration between Azqore and Capgemini, it draws on the synergies of their areas of expertise, combined with Azqore’s knowledge of the sector developed over its 25 years in business.

Azqore now occupies a unique position in the market by offering its clients financial solidity combined with expertise in banking professions, technology and digital transformation.

Capgemini’s investment in Azqore will enable 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 specialized consulting. Azqore will draw on the market leading expertise of Capgemini to enable a wide range of digital solutions and support wealth management players in their transformation. Capgemini will also contribute to the development of Azqore in Switzerland, the 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.

Pierre Dulon, Chief Executive Officer, Azqore, says, “We believe that digital innovation will fundamentally transform the wealth management sector. Azqore now offers a unique approach and expertise drawing on the capabilities and constant innovation of Capgemini and Crédit Agricole, for the benefit of our clients.”

The transaction should be completed by the end of the month.