FINANCIAL SERVICES Sopra Steria in Financial Services Expertise, services and solutions Delivering Transformation. Together.
Financial institutions are facing the need for rapid change, driven by a combination of evolving customer needs, advances in digital technologies and tighter regulatory regimes. To compete successfully banks, insurers and asset management companies need credible technology strategies to deliver both growth and operational efficiency. Who we are Sopra Steria is a true digital enabler, connecting large scale IT services with responsive delivery of business outcomes in Financial Services. With over 40 years experience across Financial Services, Sopra Steria has delivered landmark industry initiatives for the UK s leading banks, insurers and asset managers. As a trusted strategic delivery partner, we work with our clients to ensure successful delivery across both established and emerging technologies. We recognise our clients needs to deliver products and services to a consistently high standard in an increasingly complex and demanding environment. More than 40 years experience working in Financial Services across the UK s leading banks, insurance companies and asset managers Track record of delivering at scale and pace, combining reliability, agility and true digital innovation Consulting and systems integration heritage to seamlessly integrate new solutions with existing legacy technology Flexible delivery models including onsite, offsite, offshore and blended We work with challenger banks and new market entrants seeking to leverage our Financial Services track record as well as our expertise in new and emerging technologies including our Modular Digital Banking solutions. Through Sopra Banking Software, provision of specialist solutions for banks, building societies, specialist lenders, leasing companies and debt collection agencies How we work We enable Financial Services clients to focus on their key business activities by identifying those services that can be run more efficiently and cost effectively through a partnership with Sopra Steria. By incorporating IT management, systems integration and business process services we create solutions that enable our clients to simplify their operating environments and benefit from advances in technology, cost savings and improved customer service. Together with our Financial Services software company, Sopra Banking Software, we create bespoke transformation programmes comprised of industry specialist modules including security, payments and lending, aimed at disentangling legacy applications and incorporating new digital technologies. For challenger institutions, as new entrants to the market, this modular approach is equally relevant in establishing efficient, cost-effective and customer-oriented operating models. 2
Our services and expertise Digital transformation We work with organisations to create bespoke roadmaps, which reflect their aspirations to exploit new digital channels to market, while ensuring that critical legacy technologies are fully incorporated in the overall solution. We can accelerate speed to market by combining our systems integration expertise while enabling the digital front end. Our track record of delivering digital at scale enables us to ensure that new market entrants and those organisations seeking to create new and differentiated products and services can successfully establish resilient, flexible and futureproof digital platforms. With over 40 years experience across Financial Services, Sopra Steria has delivered landmark industry initiatives for the UK s leading banks, insurers and asset managers. We combine this track record as a trusted delivery and IT services partner with an ability to implement agile, iterative solutions, leveraging our in-house cloud, analytics and Big Data expertise. We are at the forefront of helping our Financial Services clients transform their businesses into intuitive and responsive digital enterprises, which anticipate tomorrow s customer needs and deliver insights that lead to first mover advantage. Sopra Steria helped bring smile, the UK s first full internet bank, to market. Working with a leading UK retail bank, Sopra Steria accelerated delivery within its digital banking programme: successfully introducing new functionality, products and services across multiple brands and digital delivery channels. For a major European regulatory organisation, Sopra Steria has created an interactive digital, cloud-based proof-ofconcept within its DigiLab environment, leveraging its capabilities in Big Data storage and analytics. Sopra Steria is Student Loans Company s Digital Delivery Partner. 3
Data and analytics Data is now recognised as being a key driver of superior business performance rather than something that must be collected for regulatory reporting reasons. Business analytics is enabling companies to derive more value as it becomes less historical and increasingly forward looking, enabling organisations to create optimised and personalised recommendations triggered by customer behaviour as it happens. High value analytics is one part of the story, efficient and low cost data management is the other side. And as data management is maturing and industrialising, organisations are acknowledging the need for blended offshore and onshore teams as well as Managed Service offerings. Sopra Steria designs data architectures, data models and reporting or analytics solutions for our Financial Services clients, supporting regulatory compliance, risk management, financial control and marketing effectiveness. Our longstanding capabilities in data management are enhanced by expertise in customer analytics, creating true data-driven marketing opportunities for our clients. We design propensity-model driven personalisation programmes, accelerating customer acquisition, growth and retention. For a major European regulatory organisation, Sopra Steria has created an interactive digital, cloud-based proof-ofconcept within its DigiLab environment, leveraging its capabilities in Big Data storage and analytics. Sopra Steria helped a closed life & pensions fund consolidator to improve its capital and regulatory reporting by modelling data, improving data quality and providing BI solutions to the group, in order to provide an accurate and consistent view of policies, transactions, liabilities and assets. Engaged in all aspects of programme delivery, Sopra Steria worked with a major UK challenger bank to deliver a new centralised BI solution in order to meet the regulatory reporting necessary to launch a current account product. For more than 10 years, Sopra Steria has been working with a leading UK retail bank to design, develop and implement a variety of data management and reporting solutions across its compliance, risk, finance, remediation and customer analytics departments. 4
Divestment and consolidation Sopra Steria is responsible for the successful delivery of some of the largest divestment and consolidation programmes in the UK Banking and Insurance market. From full scale, end-toend, project deliveries to the delivery of discrete components of work and enhancements, this experience has enabled us to hone the specialised skill sets and best practice required to deliver these complex programmes. Our experience also spans strategy, target operating model design and roadmap implementation. Sopra Steria supports newly separated organisations to operate on day one and meet their day one objectives: delivering the requisite data, and operational and regulatory reporting capability. The Jupiter Programme has been recognised within Co-operative Group as an exemplar Programme, where collaborative working and harnessing the combined strength of our key partners, has achieved a great outcome. Sopra Steria has been front and centre in the successful delivery of this Programme. Simon Bourne, Group CIO and Andy Maher, Separation Programme Director, Co-operative Group said in a recent press release regarding the IT separation and migration programme for Royal London and the Co-operative Group. Together with our understanding and knowledge of industry regulations, this enables us to help our clients navigate issues that may impact on their IT estate and associated programmes of work. As such, Sopra Steria is considered the go to partner by our clients for subsequent and progressive programmes of work around separation, migration, optimisation, transformation and integration. Sopra Steria is responsible for the successful delivery of some of the largest divestment programmes in the UK Banking and Insurance history. Sopra Steria successfully delivered a major IT separation and migration programme for the Co-operative Group, one of the world s largest consumer co-operatives, and the Royal London, the largest mutual life, pensions and investment company in the UK. Engaged in all aspects of programme delivery, Sopra Steria worked with a major UK challenger bank to deliver a new centralised BI solution in order to meet the regulatory reporting necessary to launch a current account product. Sopra Steria successfully helped a UK Life & Pensions company to separate the shared mainframe application estate and connected server / web based applications into two distinct sets, following the sale of its Life book to another firm. 5
Cyber security Security and rebuilding trust are becoming linked as core competencies for the Financial Services industry. We work with our Financial Services clients to devise cyber security strategies that are underpinned by extensive risk and threat assessments. This enables them to protect their businesses by understanding both internal and external threats, safeguarding commercial and personal data, and retaining the highest levels of privacy. Recognised in the Gartner Magic Quadrant for 2015 - Managed Security Service Provider, we monitor global threats for our clients across our network of dedicated cyber centres. Sopra Steria consultants provide support on issues of e-banking fraud (phishing, banking trojans, online payments, etc.) and supervision of security incidents within the retail banking security division of a multinational banking and financial services company. Sopra Steria has been delivering security expertise and consulting to a leading French Bank for a number of its security projects, including its Information System Security programme. Sopra Steria security consultants support a worldwide bank s IT security across different aspects of its leasing solution, including the creation of a reference security framework, mapping of IT security risks and evolution of the IT security strategy. 6
Regulation The rising demands of regulation and compliance pose a challenge across Financial Services. Regulatory initiatives will increasingly require greater transparency with customers, changes to distributor relationships and increased governance and oversight over products. Sopra Steria supports major UK Financial Services institutions across a range of regulatory frameworks. We interpret the complex European and domestic regulatory environment for clients, including both established and challenger institutions, working with them to create responsive data architectures that underpin data management processes and governance and ensure high levels of data quality. In addition to mapping requirements to data items and creating regulatory reports, we consolidate data from multiple systems to create a single view of customers, portfolios, products and policies. We identify gaps in existing business intelligence systems and capabilities to support clients in the submission of regulatory reports and ensure the accuracy and completeness of the reported data. Sopra Steria is delivering industry leading application management to the Financial Conduct Authority (FCA) and has delivered a regulatory solution for the Alternative Investment Fund Managers Directive. Sopra Steria worked with a leading UK Life & Pensions Provider to redesign the Client s valuation data provisioning process, implementing a new process that removed reliance on end user computing applications and ensured that the Solvency II data quality and data lineage requirements were met. Sopra Steria was responsible for defining, delivering and supporting the end-toend logistics of the Leverage Ratio CoREP submission for a leading Retail Bank. To deliver its remit of protecting investors across the EU and fostering stable, wellfunctioning financial markets, the European Securities and Markets Authority (ESMA) has chosen Sopra Steria as its strategic IT partner. Sopra Steria was responsible for supporting all data and reporting aspects of Mortgage Market Review (MMR) for a large Retail Bank, from data sourcing to operational and regulatory reporting. 7
Sopra Steria Three Cherry Trees Lane Hemel Hempstead HP2 7AH +44 (0)370 600 4466 info.uk@soprasteria.com BR004V01 www.soprasteria.co.uk