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DXC - Next Generation Wealth and Asset Management Operations Services

Vendor Analysis

by Andy Efstathiou

published on Jan 19, 2018

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Report Overview:

This NelsonHall assessment analyzes DXC's offerings and capabilities in W&A operations services. DXC is one of a number of W&A operations services companies analyzed in NelsonHall’s comprehensive industry analysis programs. 

Who is this Report for:

NelsonHall’s Next Generation Wealth and Asset (W&A) Management Operations Services Vendor Assessment for DXC is a comprehensive assessment of DXC’s Next Generation W&A services offerings and capabilities designed for: 

  • Sourcing managers monitoring the capabilities of existing suppliers of capital market process outsourcing and identifying vendor suitability for W&A services RFPs 
  • Vendor marketing, sales and business managers looking to benchmark themselves against their peers 
  • Financial analysts and investors specializing in the support services sector. 

Scope of this Report:

The report provides a comprehensive and objective analysis of DXC’s W&A operations services offerings, capabilities, and market and financial strength, including: 

  • Identification of the company’s strategy, emphases and new developments 
  • Analysis of the company’s strengths, weaknesses and outlook
  • Revenue estimates
  • Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
  • Analysis of the company’s offerings and key service components
  • Analysis of the company’s delivery organization including the location of  delivery locations.

Key Findings & Highlights:

Most of DXC’s wealth and asset management operations services business came with the acquisition of Xchanging in May 2016. Xchanging had two primary W&A management operations services businesses, one in Germany and one in Italy.     

Xchanging had entered the wealth and asset (W&A) BPS business in 2004 with the purchase of a 51% share in European Transaction Bank, a subsidiary of Deutsche Bank, which delivers operations services to its parent. The intention was to improve operating efficiency and sell additional services to other banks in the German and European markets. In May 2014, Deutsche Bank bought Xchanging’s ownership in the joint venture; part of the processing services was returned to Deutsche Bank ownership, while the remainder continued to be delivered by Xchanging.  

Today, the Xchanging assets are branded as DXC and operate out of the legal entity Fondsdepot Bank (FDB). FDB is a licensed bank in Germany and operates in the German market as an investment account administration provider, offering custody and administration of investment accounts for retail investors, centralized fund procurement for institutional customers, and BPS and ITO for financial service providers. 

Xchanging’s Italy operations started in 2001 under the name Kedrios, formed from the operations activities of its parent company SIA (Interbank Company for Automation). Kedrios was founded to develop and deliver ISO 9000 compliant solutions and services for the financial services industry in Italy.  

In 2010, Kedrios was acquired by Xchanging from SIA, where it continued to provide fund administration software and business process outsourcing. In 2012, Kedrios was merged with AR-Enterprise, a business process outsourcing and wealth management software platform provider under the newly formed Xchanging Italy brand. 

Since May 2016, all operations in Germany and Italy which were previously delivered by Xchanging, a DXC Technology company, have been rebranded as DXC (see Operations section for additional detail on the current operational presence in Germany and Italy).  

Table of contents:

Table of contents:

  • Background
  • Revenue Summary
  • Key Offerings
  • Delivery Capability and Partnerships
  • Pricing and Contracts
  • Changes to Operations
  • Target Markets
  • Strategy
  • Strengths and Challenges
  • Strengths
  • Challenges
  • Outlook

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