Why Financial Services Firms Need a Chief Data Officer Why Chief Data Ofﬁ Cers Are a Necessity, Not a Luxury

Stewarding Data: Why Financial Services Firms Need a Chief Data Officer Why Chief Data Ofﬁ cers are a Necessity, Not a Luxury

The C-suite could soon start to feel a little A Silo-ed Approach to Data (CRS)” developed by the OECD - demand crowded, with Chief Digital Offi cers, Chief Governance Raises Non- that fi nancial institutions provide accurate, Innovation Offi cers, Chief Risk Offi cers complete and consistent information to tax and Chief Data Offi cers joining the more Compliance Risks authorities to help curb tax evasion. established functional leaders. To avoid Since the fi nancial crisis in 2008, the monetary Despite this pressing need for strong data C-suite proliferation, companies need to impact of regulatory non-compliance has controls, the fi nancial services industry still decide whether to elevate a new functional risen dramatically. Between 2008 and faces data management challenges, with role to “chief” based on the strategic 2013, banks in the US paid more than institutions struggling with fragmentation, importance of the issue for the organization $100 billion in penalties and settlements1. silos and a lack of clear governance and its sector. For example, in many Tightening regulatory frameworks provide a processes. Critical enterprise information is organizations, marketing will be so essential telling illustration of why fi rms need to get often distributed across many operational to performance that few would deny the to grips with data. New anti-terrorism and systems and databases. In addition, our need for a CMO. In fi nancial services, data anti-money laundering legislation requires research revealed that 54% of fi nancial has become so mission-critical that the role that fi nancial institutions track customer services fi rms lack robust processes to of Chief Data Offi cer is simply essential. data more closely and report suspicious manage data quality3. A senior executive activity, or risk attracting enormous legal at a leading Australian bank admitted that fi nes. Regulations such as “BCBS 239” “The responsibility around data quality developed by the Basel Committee of is fragmented and unclear within the Banking Supervision require that banks set The responsibility organization.4” up adequate governance, processes and around data quality is systems to ensure the accuracy of data and fragmented and unclear the relevance of the reports on which they within the organization. base their risk assessment, or risk having Between 2008 and 2013, their licenses revoked. Other regulations banks in the US paid - Senior executive at - such as the US “Foreign Account Tax 2 a leading Australian bank Compliance Act (FATCA)” , and the more than $100 “Automatic Exchange of Information (AEOI)” and “Common Reporting Standard billion in penalties and settlements.

Figure 1: Big Data Opportunities in the Financial Services Sector

Increase credit score accuracy Personalize offerings, identify new based on new sources of data cross-sell opportunities and control (ex: social media data) for churn based on deep insights on improved risk control and more customer behavior, drawn from competitive pricing Improve Risks and Enhance Customer multiple sources of data Pricing Management Experience

Increase Operational Identify New Optimize data management Efficiency Business Models costs using Big Data Monetize raw anonymized technologies, improve operational customer data or behavioral efficiency through straight-through insights that enable improved processing and real-time, market analysis performance management

Source: Capgemini Consulting Big Data Framework

2 However, once again, a lack of robust A Leadership Vacuum: Why control and coordination affects fi nancial Financial Services Firms 50% of financial services fi rms’ abilities to deliver their Big Need Chief Data Offi cers services executives cite Data ambitions. 50% of fi nancial services executives cite ineffective coordination of ineffective coordination There is no doubt that fi nancial services Big Data and analytics teams as the biggest fi rms need robust data management to 6 of Big Data and challenge in Big Data implementation . meet growing regulatory pressure. They analytics teams as the Further, 48% of fi nancial services fi rms also cannot let the Big Data prize pass them operate with scattered pockets of analytics by. Our research shows that appointing a biggest challenge in Big resources or with decentralized teams that leader entrusted with enterprise-wide data 7 Data implementation. function without any central oversight . responsibilities is critical. Across industries, organizations that have appointed a Chief Data Offi cer (CDO) report a 43% success 8 The Lack of Central rate for their Big Data initiatives, compared 79% of financial to 31% for organizations that have not Oversight Impacts Effective appointed a CDO9. Use of Big Data services executives believe that the ability So, where do fi nancial services fi rms stand As well as the importance of data management in terms of appointing CDOs? What is the for regulatory compliance, Big Data is a to extract value role of the CDO in these organizations? To signifi cant opportunity for the fi nancial services from Big Data is an fi nd the answers to these questions, we sector, from operational effi ciency to the important factor in interviewed senior executives from leading customer experience (see Figure 1). According global fi nancial services fi rms (see research to our research, 79% of fi nancial services their future success. methodology at the end of this paper). executives believe that the ability to extract value from Big Data is an important factor in their future success (see Figure 2)5.

Figure 2: Impact of Big Data on the Financial Services Sector

% of respondents agreeing with the statement

We are facing increased competition 57% from data-enabled startups

If we do not embrace Big Data we risk 75% becoming irrelevant / uncompetitive

The ability to extract value from Big Data is 79% important for my organization’s future success

Big Data provides new business opportunities 79%

N = 196 Source: Capgemini, “Big & Fast Data: The Rise of Insight-Driven Business”, March 2015

3 The CDO’s Role in Financial Services Firms Remains Limited in Scope

Despite Being among the legacy systems. These CDOs also strive Earliest to Appoint CDOs, to raise awareness of data management Close to 16% of issues across the organization, including the Financial Services confi dentiality and legal aspects. They Sector has not Fully financial services firms also coordinate data management efforts Expanded the Role have appointed CDOs, across IT, business and support functions, of the CDO laying out the relevant processes and IT outstripping many architecture necessary for an organization- The fi nancial services industry can other industries. wide data management program. As the justifi ably lay claim to being a pioneer when CDO of a UK-based bank put it: “My overall it comes to appointing CDOs. The industry objective is to build a stronger control was among the fi rst to designate the role. In addition to the Beginners, who are at the framework around data.” US-based bank Capital One appointed very early stages of their data journey, we Cathy Doss as CDO as early as 2002. see a range of CDO types. Cathy Doss is widely considered to be the world’s fi rst CDO10. Today, close to 16% Process Oriented CDOs. Most CDOs Process Oriented CDOs of fi nancial services fi rms have appointed focus on data management from a CDOs, outstripping many other industries compliance perspective. They concentrate concentrate on defining (see Figure 3)11. However, our research on defi ning data management guidelines data management revealed that most CDOs focus on specifi c and controlling their implementation, in order guidelines and controlling aspects of data, such as compliance and to comprehensively address compliance risk management, but only a handful have demands. They oversee a range of their implementation, in mandates that extend to managing their activities including the construction of data order to comprehensively organization’s overall data strategy (see dictionaries, master data management, Figure 4)12. identifi cation of critical data domains, address compliance and integration of data quality tools with demands.

Figure 3: CDO Appointments by Industry Sector

Financial Services 16%

Oil and Gas 15%

Engineering 14%

Teleco m 14%

Healthcare 11%

Consumer Goods 10%

Public Sector 9%

Media 9%

Utilities 7%

N = 1000 Source: Capgemini, “Big & Fast Data: The Rise of Insight-Driven Business”, March 2015

4 Figure 4: Maturity of the CDO’s Role in the Financial Services Sector

Process Oriented Big Data Ready

CDOs focused on improving CDOs responsible for driving data compliance and quality to the overall data strategy for meet regulator expectations. their organizations – comprising data compliance as well as value creation from Big Data.

Data Management Beginner Value Oriented

CDOs that have launched a few CDOs focused on generating Big Data initiatives but have not new opportunities using Big defined a global approach. Data. Data quality and compliance is generally managed by IT in these organizations.

Big Data Value Creation

Source: Focus Interviews Conducted by Capgemini Consulting in Partnership with Efma

Value Oriented CDOs. Some CDOs and roadmap, and prioritize initiatives. When focus on innovation and value creation US-based bank Wells Fargo nominated through data, but have limited data A. Charles Thomas as its CDO last year, Process Oriented CDOs compliance responsibilities. They focus it assigned various aspects of a Big Data are usually part of on generating new opportunities, looking Ready CDO’s role to him. Announcing at Big Data use-cases such as customer Thomas’s appointment, the bank said: a corporate support behavior analysis or digital business “In this new role, Thomas will oversee the function focused on intelligence. However, data quality and company’s data strategy, provide enterprise compliance does not fall within the scope data governance, and determine ways to compliance, which of their responsibilities and is generally leverage data for improved risk management limits their ability to managed by the IT function. and customer experiences.13” address other business When we look more closely at these needs and priorities. different types, we also see how their Value Oriented CDOs placement in the organization can constrain their effectiveness. In particular, their ability focus on innovation The Ofﬁ ce of the Process to take a genuine, cross-organization view Oriented CDO is Usually Part of a and value creation (see Figure 5). through data, but have Central Support Function limited data compliance Process Oriented CDOs are usually part of a corporate support function such responsibilities. Big Data Ready CDOs as the central risk, IT or compliance department. They rely on a central team have a mandate that with representatives in different business Big Data Ready CDOs. Only a minority of includes both data units and support functions. Given this CDOs are responsible for their organization’s focus on compliance, this conﬁ guration overall data strategy. These CDOs have a compliance as well as limits the CDO’s ability to address other mandate that includes both data compliance value creation from business needs and priorities. as well as value creation from Big Data. They identify business-critical data domains, Big Data. develop the Big Data investment strategy

5 Figure 5: Organizational Models for Data Management

“Process Oriented” CDOs belong “Value Oriented” CDOs to a corporate support function belong to a business unit such as risk, compliance or IT Process Oriented Value Oriented Board/ Board/ CEO CEO

CRO* COO CIO BU Head BU Head CRO* COO CIO BU Head BU Head (1) (2) (1) (2)

Corporate Functions Corporate Functions CDO CDO CDO

“Big Data Ready” CDOs lead an independent unit with representatives Board/ in all business units and functions CEO Big Data Ready

CDO CRO* COO CIO BU Head BU Head (1) (2) Corporate Functions *CRO – Chief Risk Officer

Source: Focus Interviews Conducted by Capgemini Consulting in Partnership with Efma

Value Oriented CDOs Usually Big Data Ready CDOs Lead Reside in Business Units with a through an Independent Value Oriented CDOs Business-Specifi c Mandate Structure are appointed by a Value Oriented CDOs tend to be Our research shows these CDOs business unit, which appointed by a business unit. The CDO’s operating their function as a shared offi ce has relatively strong links to the IT services center for the entire fi rm, with limits their effectiveness function. Multiple business units may representatives in all business units and beyond their own have their own CDOs to look after their functions. Within such a set up, the business unit. individual priorities. Such a confi guration CDO can collaborate effectively with limits the CDO’s effectiveness beyond IT, business and functional leaders to their business unit. infl uence data governance, roadmap, and policies and drive implementation.

6 The Road Ahead: How Can Financial Services CDOs Lead their Organizations towards Big Data Readiness?

Establish Data as a helping the organization achieve its business Establish accountability for data. Corporate Asset with an objectives. They should also ensure that this To ensure that an enterprise-wide data vision is communicated to leaders across Enterprise-wide Data governance program is effectively lines-of-business, in order to establish a implemented, CDOs will need to identify Governance Structure common understanding around the need for individuals with explicit responsibility for data-driven decision-making. enforcement of data policies and procedures. In order to build data-driven organizations, At US-based brokerage fi rm TD Ameritrade, CDOs will need to begin by ensuring Expand the scope of data governance. CDO Derek Strauss worked closely with the that data is recognized as a central asset Data governance in fi nancial services heads of the fi rm’s various business units to throughout the organization. This requires fi rms has traditionally focused on internal, identify “data offi cers” and “data stewards” a compelling vision, an expanded scope structured data. However, in a Big Data who were responsible for data quality and of data governance, and a system of world, CDOs will need to expand the scope control for their business units14. accountability for data. of data governance to manage data quality, privacy and security across varied data In addition, fi nancial services CDOs will need Align the organization around a formats – structured and unstructured – and to take proactive measures to expand their common vision for Big Data. CDOs from internal as well as external sources. existing roles. These measures vary based should focus on creating a compelling on the current maturity of the CDO’s role (see vision of the role that Big Data can play in Figure 6).

Figure 6: The Journey to Big Data Readiness

1 Recommended path for CDOs who have developed strong capabilities around data management. Enables “Process Oriented” CDOs to extend their influence from managing data quality for compliance, to applying high quality data to address business challenges.

Process Oriented Big Data Ready

2 Recommended path for CDOs Data Management who have a strong understanding of the business value of Big Data. Enables “Value Oriented” and “Beginner” CDOs to extend their influence from managing a limited 2 set of Big Data use-cases, to rallying the organization around Beginner Value Oriented large scale Big Data initiatives.

Big Data Value Creation

Source: Focus Interviews Conducted by Capgemini Consulting in Partnership with Efma

7 Process Oriented CDOs Adapt Data Sourcing and Storage Should Focus on Creating Practices for the Digital Age CDOs should focus on More Value from Big Data To maximize the value of Big Data, creating a compelling Process Oriented CDOs will need to Process Oriented CDOs will need to adapt their organizations’ data sourcing vision of the role graduate from managing data quality for and storage practices. Retail banks that Big Data can regulatory purposes, to generating value and insurers, for instance, will need play in helping the from data. to source data from multiple sources including market data feeds, social organization achieve Tackle Business Challenges media, securities repositories, corporate its business objectives. through Big Data directories, credit bureaus and Know Your Customer (KYC) utilities. In addition, In order to expand their sphere of Process Oriented CDOs will also need infl uence beyond compliance, Process to develop strategies to minimize data Oriented CDOs will need to train their storage costs by identifying data that can Beginner CDOs Should sights at addressing business challenges be stored in-house, or kept off-shore. Focus on Demonstrating through effective use of data. Global the Value of Big Data insurance major MetLife, for instance, conducted an event that brought together Given that most fi nancial services data scientists and analytics leaders from organizations have existing functions that diverse departments and business units, manage compliance requirements, we with the aim of sharing best practices Proactively informing recommend that Beginner CDOs focus and generating new ideas around the customers about how their efforts on Big Data value creation. use of Big Data. At the event, teams of their data is used, and However, obtaining resources for large data experts worked together to identify scale Big Data initiatives can be diffi cult, ways in which MetLife could address how they can opt- as it is no easy task to defi ne a clear return three major challenges – new product out of data sharing, on investment. To address this challenge, development, improving customer Beginner CDOs should fi rst assess the retention and increasing operational are necessary steps to data landscape within their organizations effi ciency, by harnessing new types of safeguard the interests to identify existing assets and capabilities, data and using Big Data technologies.15“ of consumers. as well as business problems that can be addressed rapidly through data. They Address Data Privacy Concerns should then rollout focused, short-term The use of data to generate customer projects to address these problems. insights and develop new services This approach demonstrates the value raises new challenges with data privacy. of Big Data to business leaders and As such, Process Oriented CDOs will can persuade them to invest in more need to take proactive steps to protect ambitious initiatives. customer data privacy and ensure that data usage complies with legal and ethical frameworks. Proactively informing customers about how their data is used, and how they can opt-out of data Process Oriented CDOs sharing, are necessary steps to safeguard will need to graduate the interests of consumers. They will also need to develop strong policies from managing data and procedures to handle confi dential quality for regulatory customer data with care. For instance, purposes, to generating removing any Personally Identifi able Information (PII) associated with customer value from data. data before it is used can signifi cantly reduce the risk of privacy breaches.

8 Value Oriented CDOs While the road to Big Data readiness may Should Standardize Data be challenging, it promises to lead fi nancial Value Oriented services fi rms towards a more secure Management and Expand future. Process Oriented CDOs must the Scope of Big Data Usage CDOs will need to realize that Big Data initiatives demand high quality data as they rely on drawing Establish an Enterprise-wide progressively adapt linkages between internal and external Data Governance Framework to the data management data. A mature implementation of data Industrialize Big Data Initiatives management rules, tools and processes and Address Compliance framework to the needs accelerates the industrialization of Big Data Requirements of the organization, initiatives. As such, their efforts on building High-quality data is a prerequisite not only extending it gradually data quality control mechanisms to meet for growth, but also for compliance. As to diverse data sets. compliance requirements, also gives them such, Value Oriented CDOs will need to a solid foundation on which to launch Big develop a data management framework Data initiatives. Value Oriented CDOs, on that supports large-scale Big Data rollouts the other hand, may face the diffi cult task and which also allows the organization Actively Promote New Uses of of building a data management framework. to meet regulatory demands. Given the Data across the Enterprise However, having demonstrated the challenges of managing the high volume value of Big Data as part of their existing Value Oriented CDOs should look to and variety of data in fi nancial services mandates, they are likely to fi nd it easier expand the scope of Big Data usage fi rms, Value Oriented CDOs will need to to secure funding for a large-scale data beyond the limited number of use-cases progressively adapt the data management management program. that they typically work on. To achieve framework to the needs of the organization, this, they should focus on making data extending it gradually to diverse data sets. The perception of data has changed available to business teams in simple, For instance, they could begin with defi ning fundamentally. Data is no longer just seen intuitive and easily digestible formats that rules for the prioritization, storing and as an enabler, but as an organizational encourage business executives to make sharing of internal data, before graduating asset that is key to how fi nancial services use of data on a regular basis. Ali Farahani, to external data aggregation and fi nally, fi rms compete, innovate and grow. CDO for Los Angeles County, for instance, creating an integrated set of master data However, many fi nancial services fi rms, is focused on making data readily available and metadata spanning internal, external, while realizing the opportunity at hand, are to users: “I want to promote a model structured and unstructured data sources. struggling to seize it. This is why the role of where we look at data as a service,” he Chief Data Offi cer is growing in importance. says. “The purpose would be to make it It is seen as a means to defi ne and deliver available to all consumers of data, to make a coherent, enterprise-wide data strategy. it more readable, in a standard format, However, as we have shown, “CDO” is Value Oriented CDOs almost as a plug-in so that any consumer simply a title. What is more important is of data in the county can access data how organizations defi ne the role behind focus on making data without worrying about what platform it is the title and what power and infl uence they available to business in, without worrying about building bridges give the title-holder. In this paper, we have 16 teams in simple, intuitive to access that data. ” Value Oriented outlined how organizations can design a CDOs should be similarly mindful of end- CDO role that fi ts with their stage of data and easily digestible user needs, in order to achieve the shift evolution and which maps out how a CDO formats that encourage towards a data-driven organization. can help them achieve a step-change in their Big Data performance. In this way, business executives to the Data Offi cer will have earned their make use of data on a place alongside their CMO, CFO, and CIO regular basis. colleagues in the enterprise C-suite.

9 Crafting a Comprehensive Data Strategy at TD Ameritrade

In 2012, TD Ameritrade, the American online brokerage fi rm, appointed Derek Strauss as Chief Data Offi cer. When Strauss took over, TD Ameritrade lacked a data governance group, its analytics teams were dispersed across the organization, and it relied solely on an enterprise data warehouse. During the fi rst six months, Strauss spent time understanding the needs of the business, establishing the scope of his role, and charting out a data strategy for the organization. Over the next few years, he set up the Enterprise Data and Analytics Group, brought the disparate analytics teams together, built nearly ten new technology capabilities, and set the stage for targeting high-value business use-cases. In a recent interview, Strauss explained the fi ve key pillars of his role:

Data Governance: Working with the heads of all lines of business to determine ownership of data. Each line of business appoints a “Data Steward” or “Data Ofﬁ cer” who acts as a local champion for data control, quality, and day-to-day operations. Strauss’s team works with them to manage and control data-related activities across the organization.

Technology Platforms: Setting up enterprise-wide platforms that allow teams across the ﬁ rm to leverage data that was previously inaccessible to them. These include a Hadoop data store, a metadata repository and reference data management system among others.

Data Science: Building a team of data science professionals to develop best practices and demonstrate how data analytics can be integrated with business processes.

Data Architecture: Managing data modeling, data quality, metadata management and master data management.

Data Asset Development and Maintenance: Managing the hardware and software-related aspects of the enterprise data warehouse, the Big Data store and data virtualization.

In his role as CDO, Strauss has closely aligned TD Ameritrade’s data strategy with its business strategy. In Strauss’s words, “the chief data ofﬁ cer and the data team are responsible and accountable for the four A’s of data: keep it Accurate, allow it to be Accessible, make it Actionable, and use advanced Analytics to deliver results.”

Source: Network World, “How TD Ameritrade’s Chief Data Offi cer is driving change”, January 2015; The 8th Annual MIT Chief Data Offi cer Information Quality Symposium, “How to Establish a CDO Offi ce in Your Organization”, January 2014; LinkedIn, “Derek Strauss, Chief Data Offi cer at TD Ameritrade”, Accessed March 2015; Hoovers, “Making Room for the Chief Data Offi cer”, 2014

Research Methodology

In H2 2014, Capgemini Consulting and Efma, the global non-profi t association of retail fi nancial services companies, interviewed senior executives from fi nancial services fi rms to assess the maturity of the role of the Chief Data Offi cer in these fi rms. The assessment was based on a set of nearly 50 questions around data governance mechanisms, the roles and responsibilities of the CDO, and the alignment of the CDO organization with business, IT and support functions.

The ﬁ ndings in this report are also based on two recent surveys conducted by Capgemini:

I. A survey to assess the extent to which Big Data sources and technology are being adopted across different sectors and regions of the world. About 1,000 senior decision-makers from across nine industries including ﬁ nancial services, and 10 countries worldwide took part in this survey. The study explored the impact of Big Data on businesses and markets and how the acquisition of data is breaking down traditional industry boundaries. The study also looked at how businesses are adapting to these changes. II. A survey of 226 senior Big Data executives across Europe, North America and APAC, spanning multiple industries including ﬁ nancial services. The survey targeted senior executives from the Analytics, Business and IT functions, who are responsible for overseeing Big Data initiatives in their organization. Respondents were asked questions around their organization’s approach to Big Data governance, data management, skill development, and technology infrastructure.

10 References

1 Financial Times, “Banks pay out $100bn in US fines”, March 2014 2 Treasury.gov, Foreign Account Tax Compliance Act (FATCA) 3 Capgemini Consulting, “Cracking the Data Conundrum: How Successful Companies Make Big Data Operational”, January 2015 4 Focus Interviews Conducted by Capgemini Consulting in Partnership with Efma 5 Capgemini, “Big & Fast Data: The Rise of Insight-Driven Business”, March 2015 6 Capgemini Consulting, “Cracking the Data Conundrum: How Successful Companies Make Big Data Operational”, January 2015 7 Capgemini Consulting, “Cracking the Data Conundrum: How Successful Companies Make Big Data Operational”, January 2015 8 Success rate refers to the percentage of initiatives that were either “successful” or “very successful”. An initiative was considered to be “successful” only if it met most or all of its objectives, and “very successful” if it exceeded its objectives. 9 Capgemini Consulting, “Cracking the Data Conundrum: How Successful Companies Make Big Data Operational”, January 2015 10 GE Software, “Rise of the CDO (Chief Data Officer)”, May 2014 11 Capgemini, “Big & Fast Data: The Rise of Insight-Driven Business”, March 2015 12 Focus Interviews Conducted by Capgemini Consulting in Partnership with Efma 13 Wells Fargo Press Release, “Wells Fargo Names A. Charles Thomas as Chief Data Officer”, February 2014 14 Networkworld.com, “How TD Ameritrade’s Chief Data Officer is driving change”, January 2015 15 InformationWeek, “MetLife Hosts Big Data Party”, October 2013 16 Govtech.com, “Chief Data Officers: Shaping One of the Newest Positions in Government”, March 2015

11 Authors

Jean Coumaros Stanislas de Roys Laurence Chretien Jerome Buvat Head of Financial Services Head of Banking Market Unit, Vice President, Head of Digital Transformation Global Market Unit Capgemini Consulting France Big Data and Analytics, Research Institute [email protected] [email protected] Capgemini Consulting France [email protected] [email protected]

Jacques Richer Aurelien Grand Rémi Chossinand Christophe Le Vaillant Principal Principal Managing Consultant Managing Consultant [email protected] [email protected] [email protected] [email protected]

Jerome Dejardin Amol Khadikar Digital Transformation Senior Consultant Senior Consultant, Digital Research Institute [email protected] Transformation Research Institute [email protected] [email protected]

The authors would like to thank industry participants to the study for their time and insights during interviews. The authors would also like to acknowledge the contributions of Roopa Nambiar from Digital Transformation Research Institute and Karine Coutinho from Efma.

Capgemini Consulting Contacts

Global Norway United States France Jean Coumaros Jon Waalen Scott Tullio Stanislas de Roys [email protected] [email protected] [email protected] [email protected]

Germany/Austria/Switzerland BeNeLux Spain United Kingdom Christian Kroll Robert van der Eijk Christophe Mario Keith Middlemass [email protected] [email protected] [email protected] [email protected]

India Sweden/Finland Asia Natarajan Radhakrishnan Johan Bergstrom Frederic Abecassis [email protected] [email protected] [email protected]

Efma Contact

Karine Coutinho Deputy Managing Director, Head of Content & Partnerships [email protected]

12 Capgemini Consulting is the global strategy and transformation As a global not-for-profit organization, Efma brings together consulting organization of the Capgemini Group, specializing more than 3300 retail financial services companies from over in advising and supporting enterprises in significant 130 countries. With membership from almost a third of all transformation, from innovative strategy to execution and with large retail banks worldwide, Efma has proven to be a valuable an unstinting focus on results. With the new digital economy resource for the global industry, offering members exclusive creating significant disruptions and opportunities, our global access to a multitude of resources, databases, studies, team of over 3,600 talented individuals work with leading articles, news feeds and publications. Efma also provides companies and governments to master Digital Transformation, numerous networking opportunities through work groups, drawing on our understanding of the digital economy and online communities and international meetings. our leadership in business transformation and organizational change. Visit: www.efma.com

Find out more at: www.capgemini-consulting.com

Rightshore® is a trademark belonging to Capgemini

About Capgemini and the Collaborative Business Experience

With almost 145,000 people in over 40 countries, Capgemini is one of the world’s foremost providers of consulting, technology and outsourcing services. The Group reported 2014 global revenues of EUR 10.573 billion. Together with its clients, Capgemini creates and delivers business and technology solutions that fit their needs and drive the results they want. A deeply multicultural organization, CapgeminiRightshore® hasis a trademark developed belonging its own to way Capgemini of working, the Collaborative Business ExperienceTM, and draws on Rightshore®, its worldwide delivery model.

Learn more about us at www.capgemini.com