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Capgemini Expands Blockchain Practice for Fintech

By Rob Starr, Big4.com Content Manager

Seeking to further the similar solutions across retail banking, commercial banking, global markets and the insurance industry they already have in place,  Capgemini is growing their blockchain-related technology specialist team to provide a broad range of consulting and technology services  in that arena including : feasibility studies, business case assessments, operating model design, advisory services on systems architecture and full-scale systems integration. Capgemini has recruited a core team of leading blockchain technology specialists with plans to expand its global team by year-end. Following are some email answers to the questions we sent from Mahendra Nambiar, vice president and global insurance head of solutions and innovation at Capgemini.

Can you define what blockchain technology is and what the term refers to?

Blockchain is the distributed ledger technology underpinning the cryptocurrency bitcoin. It consists of data blocks that contains data of individual transactions or events and is replicated across the distributed ledger.

How is Capgemini involved?

Mahendra Nambiar

Capgemini has committed to recruit 100 blockchain professionals within its financial services business unit by year-end, as central banks, financial institutions and technology firms begin to embrace the potential of the technology to drive transformative change within the industry. Capgemini will use the additions to its core team of blockchain experts to provide a range of consulting and technology services including: feasibility studies, business case assessments, operating model design, advisory services on systems architecture and full-scale systems integration.

How will their clients further benefit?

Capgemini already consults for several major banking institutions, regulators and insurers and is helping institutions assess and implement a range of blockchain-related solutions across retail banking, commercial banking, global markets and insurance. Capgemini will provide a range of consulting and technology services including: feasibility studies, business case assessments, operating model design, advisory services on systems architecture and full-scale systems integration.

What are the trends that prompted this move?

Blockchain technology is gaining traction with increased investment in startups, technology firms and leading financial institutions. The increasing maturation of IoT, the prevalence of a sharing and comparison economy, the re-emergence of peer-to-peer insurance and the digital adoption by consumers at large have opened the gates for insurers to immediately take advantage of blockchain therefore Capgemini has decided to make this significant investment.

What’s in the future? 

Capgemini will continue to monitor the space and grow the blockchain practice in a very focused manner. We will continue to invest and partner with our clients and partners to develop targeted use cases and strategies to leverage blockchain.

 

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