One on One with Capco's Nic Parmaksizian

The digital revolution is well underway, and one sector moving quickly to embrace new, technology-driven ways of doing business is Financial Services. Capco recently launched its U.S. digital practice to support financial institutions undergoing digital transformations, helping them leverage innovative technology to disrupt their businesses in a positive way. Consulting sat down with Capco's Nic Parmaksizian, Global Head of Capco Digital, to talk about the challenges and opportunities Financial Services firms are facing in light of the digitization of the industry.

Consulting: What's behind the timing of the launch of Capco's US digital practice?

Parmaksizian: The US market is quite clearly accelerating its investment in terms of digital technology and digitization. When you look at the size of the market and the actual global demand, the US outstrips other parts of the world when it comes to demand and needs for those types of services. We've always worked in digital in the US, I think it's more of a question of acceleration and leveraging my own and my team's experience, assets, experiences, and capabilities we've developed. In my mind, there's a difference in parts of the banking sector in maturity between the UK and some US banks. Perhaps the UK banks have been more proactive in investing a bit more and earlier in terms of digital transformation. What we're seeing is some catching up happening. That's what's motivated our investing more in this space at Capco.