Capco, the financial services consultancy, today announces the appointment of Mark Webster as Partner to head its Payments practice in North America. Mr. Webster, formerly a Partner in PricewaterhouseCooper’s Global Financial Services Consulting Practice, co-led the Bank Operations Consulting Practice. He will report to Bill Irving, President of Capco, and will be based in New York.
Mr. Webster’s joining bolsters Capco’s development of global premier payments systems for its clients. The market opportunity is extensive, as the payments arena is reaching a major inflection point with the growing move from paper checks to electronic payments. Financial institutions are experiencing demands for new services, reduced processing and maintenance costs, improved efficiency, and increased capacity.
Banks are also facing new market drivers, forcing them to retool existing payments platforms and operational models. These drivers range from regulatory requirements such as the Basle Accords, the Patriot Act, and the Check Truncation Act, to customer requirements such as cost reduction, faster cycle times, finality of payment, and reduced risk.
“Our mission is to establish a ‘best of breed’ payments practice to address the priority issues and needs of our clients and generate new revenue sources for Capco,” said Mr. Webster. “This global practice will develop a unique payments vision, expertise, and execution capability in combination with our other key client segments to provide full services and technology solutions in bank operations for our global clients.”
Bill Irving, President, added, “Capco’s vision is to create end-to-end solutions that offer the greatest value to customers, while linking the best-in-class innovation and technology with business strategy at the highest levels of management. Mark epitomizes this vision in the payments field, and will help to ensure Capco reaches our goal of client value and satisfaction.”