Capgemini has entered into an agreement to acquire the Financial Crime Compliance (FCC) division of Exiger, a global financial crime practice. The acquisition is expected to close in the coming months and will bolster Capgemini’s capabilities in financial crime, risk management, and regulatory compliance services.
Key points about this acquisition:
- Expert Team: Exiger’s FCC division, established in 2013, consists of a team of experts located in North America, EMEA (Europe, Middle East, and Africa), and APAC (Asia-Pacific). They specialize in various aspects of financial crime compliance, including anti-money laundering (AML), Know Your Customer (KYC), anti-bribery and corruption, suspicious activity monitoring, sanctions, transaction monitoring, and fraud.
- End-to-End Ecosystem: By combining the financial crime expertise of Exiger’s FCC division with Capgemini’s network of alliances, the goal is to create an end-to-end ecosystem that supports advisory-led transformation in financial crime compliance. This will help clients address evolving compliance requirements and regulatory changes effectively.
- Client Base: The FCC division’s client portfolio aligns well with Capgemini’s and includes clients in the banking, capital markets, and fintech sectors. This suggests that the acquisition will enhance Capgemini’s ability to serve clients in these industries.
- Addressing Industry Challenges: The financial services industry faces challenges in compliance processes, with many still being manual and costly. Compliance costs continue to rise due to evolving regulations. The acquisition aims to offer expert-driven data and technology-powered solutions to enable end-to-end transformation in financial crime compliance.
- Strategic Alignment: Capgemini’s strategic business transformation services, global reach, partner ecosystem, and financial services expertise were attractive to Exiger’s FCC division. The alignment of geographic locations, shared values, and cultural similarities between the two companies played a role in the decision to join forces.
This acquisition reflects the ongoing importance of robust financial crime compliance in the financial services sector and the need for advanced solutions to address compliance challenges effectively.
By FCCT Editorial Team
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