Reuters Consulting is a global service specialising in the integration of Reuters information and trading products backed by Reuters worldwide support infrastructure. Capco brings considerable expertise in the strategic direction and operation of global financial markets and the players within it. The alliance will offer customers a unique combination of skills and knowledge that will enable financial institutions to gain maximum benefit from Reuters and Capco's combined products, technology, strategic consultancy and business transformation capabilities.
Both companies have identified greater liquidity and efficiency as key to generating customer benefit. The Capco Institute recently completed an academic study entitled, "The New Wave of Liquidity," which found that greater use of technology will add significantly to the creation of an increasingly efficient and more liquid global economy - one that could release value of US$872 billion by 2005. Research performed by Reuters subsidiary, Tower Group, shows correspondingly that the global securities industry will spend US$19.1 billion over the next 4 years to unlock liquidity in their own operations.
As part of the agreement Reuters Consulting and Capco will initially deliver expertise and services built around specific areas of industry focus such as retail, straight through processing, enterprise application integration (EAI), operations efficiency, risk management, data management, and pursue business innovation solutions in the financial services industry.
Philip Green, Chief Operating Officer, Reuters Group plc explained:
"Reuters integrated information, trading and technology solutions for global customers, and Capco's unique combination of thought leadership, practical application, and services make for the ideal partnership. We both have common aims - to provide the best professional services and technology solutions to the financial markets."
Rob Heyvaert, Chairman and Chief Executive Officer of Capco, added: "The world of finance is transforming at breakneck pace, and technology holds the key to creating tremendous efficiency and increasing valuations for financial institutions, and providing instantaneous information for customers. Capco is excited to be aligned with Reuters, with its strong track record, commitment to technology, and growing customer base; our distinctive yet complementary strengths will result in an influential, best-of-breed customer orientated service for the financial markets".