The assurance and testing business of Capita today announces that it has been selected by Old Mutual Wealth Management to transform the assurance and testing capability of its IT function.
The contract was awarded after a competitive tender involving a number of India-based suppliers. Old Mutual Wealth Management is the latest financial services company using Capita‟s assurance and testing capability, with others including high street and merchant banks, general and commercial insurers and reinsurers.
As part of the contract Capita will make both cost and efficiency improvements for Old Mutual Wealth Management, using a blended onshore/offshore model and a risk-based approach to testing to ensure an „early warning‟ mechanism for the business.
Chris Shaw, managing director of Capita‟s assurance and testing business, said: "In common with other parts of the Capita Group, the assurance and testing business is not just about doing the job in hand efficiently but about innovation and transformation, re-engineering processes so that quality is built in from the start. We are confident enough about the way we can transform Old Mutual Wealth Management‟s assurance and testing that we have committed to a range of quantitative measures over the life of the contract, including cost savings of up to £1 million a year."
Rob Hornby, Chief Information Officer at Old Mutual Wealth Management, said: "We needed a supplier who could take time to understand our business priorities and also act as a catalyst for change in the testing function; improving processes and achieving positive and measurable business outcomes. Although we looked at a number of other solutions we felt that Capita could best provide a genuinely transformational approach to the testing function, driving through both cost reduction and systems quality improvements."