France-based technology company Capgemini has agreed to acquire the Financial Crime Compliance division of US-based Exiger . This move is aimed at bolstering Capgemini's offerings in financial crime, risk management, and regulatory compliance services, and the transaction is set to conclude in the coming months.

The FCC division of Exiger, established in 2013, consists of a team of experts situated across North America, EMEA, and APAC. They specialise in advisory, analytics, and managed services related to various aspects of financial crime, including anti-money laundering, Know Your Customer (KYC), anti-bribery and corruption, suspicious activity monitoring, sanctions, transaction monitoring, and fraud. Notably, their client portfolio aligns well with Capgemini's, encompassing companies that operate in banking, capital markets, and fintech sectors.

The FCC division's domain expertise and advisory board of former regulators, combined with Capgemini's network of partnerships, position the Group to establish a comprehensive ecosystem for driving advisory-led transformations in financial crime compliance, which is a prominent agenda item within the current financial services sector according to the official press release. Representatives from Capgemini's Financial Services emphasised the evolving landscape of financial crime compliance requirements and noted that many banks are grappling with the challenges posed by evolving regulations and escalating compliance costs. The acquisition of Exiger's FCC division aims to bring valuable regulatory expertise to Capgemini, addressing the increasing demand for such services.

Representatives from the FCC Division of Exiger highlighted the manual nature of compliance processes in the industry, underscoring the ongoing struggle to enhance the end-client experience while keeping compliance costs in check. They also noted that the financial services sector is on the brink of adopting expert-driven data and technology-powered solutions for comprehensive FCC transformation. The alignment of Capgemini's strategic business transformation services, global reach, partner network, and financial services expertise made it an appealing choice for the Exiger team and its clients.

The shared geographical presence, common values, and closely aligned cultures add to the enthusiasm surrounding this integration into the Capgemini Group. Other notable developments from Capgemini In September 2023, Capgemini announced the introduction of a Generative AI for the CX Foundry that can be used for clients of Salesforce. Following this announcement, both Capgemini and Salesforce aimed to combine their suite of services, as well as their expertise in order to provide effective business value for joint customers and to improve the acceleration of generative AI implementation for user relationship management (CRM) at scale.

In addition, the Generative AI for CX Foundry has the potential to enhance the manner in which customers that leverage Salesforce drive value across their client lifecycle, as well as how they deliver personalised experiences to users. .