Delta Capita, a leading global Capital Markets consulting, managed services and technology provider has been selected by Citi to scale and commercialise its proprietary digital communications workflow management software capability, QMA.
QMA is an intelligent workflow management tool specifically designed to enable operations and service teams to seamlessly manage and prioritise high volumes of email, chat and other digital communications. QMA enables enhanced management of team capacity and highlights opportunities for process improvement.
Citi has a significant user base that leverages QMA in multiple business lines across 63 countries to deliver measurable improvements to client experience, significant reduction in email volumes through auto-assignment, and rapid response to client enquiries.
This transaction accelerates Delta Capita’s aim to deliver superior mutualised managed services and technology tools to the financial services industry and demonstrates Citi’s leadership in driving innovative solutions that are reshaping the way business is done. Delta Capita and Citi recognise QMA’s potential to benefit the broader industry by providing a solution to navigate multiple digital communications channels and drive efficiency.
Citi will continue to use QMA, and as part of the transaction, will be a minority investor in the Delta Capita majority-owned subsidiary formed to commercialise the product, and take it to market.
Joe Channer, CEO Delta Capita commented, “Thanks to this new partnership, QMA will be developed into an industry wide, scalable product allowing multiple clients to leverage its capabilities whilst benefiting from a price and efficiency that can’t be achieved by any one bank developing it on their own. This transaction is part of Delta Capita’s continued commitment to deploy capital for commercialising proprietary technology assets, in doing so we are accelerating our strategy for delivering mutualised managed services across the capital markets value chain.
Jon Lofthouse, Head of Markets Technology at Citi commented, “We developed QMA because we saw there was a gap in the solutions available for our team to manage workflow across communication channels. We believe the development of QMA will be well served by Delta Capita’s forward-thinking perspective and we look forward to seeing it expand beyond Citi and into the financial services industry.”
Emily Turner, Head of Business Development for Citi’s Institutional Clients Group added, “We are very excited to work with Delta Capita in this next chapter of QMA. For certain products and services, our first choice is very much to partner with external companies, but it is not always possible to find solutions in the market. This was the case for QMA and as a result we built a market leading, innovative solution. We look forward to Delta Capita’s development of the technology with Citi continuing to benefit as a customer and investor.”
QMA complements Delta Capita’s existing range of specialist managed services and technologies across Client Lifecycle Management/KYC, Derivatives and Structured Products, Post-trade, Market Infrastructure and Pricing & Risk.