The article outlines how Capital One was able to undertake the approach used by many fintech companies, in part driven by taking a legacy-light embrace of technology, and rocket itself forward among its traditional and non-traditional peer financial institutions.
In addition to rapidly growing our software engineering staff, we recognize that to be productive, we need to think about how we deliver infrastructure, so we made the choice to move to the public cloud. Amazon Web Services is our predominant cloud partner. All our new software we build in the public cloud, and we are migrating applications out of our data centers to the public cloud as well. Our view is that we do not want to be in the business of building infrastructure. There are companies out there that are doing a great job of that, and have invested a lot, and have tremendous scale. We would rather focus on building great applications for our customers.
Mercator Advisory Group believes having a focus on addressing the needs of the consumer, and trusting partners and vendors to support the functionality it developed in house, as well as making timely acquisitions, Capital One gained clear vision of how banking customers were comfortable interacting with financial institutions remotely.
Overview by Joseph Walent, Customer Interactions Advisory Service at Mercator Advisory Group
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