Reaching Targets

We identify hotspots in your IT projects, address pain points that impede your business and bring in expertise and context to solve your true requirements.

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The Company

Founded 1998 in Switzerland, Scilla offers IT consulting services to private banks and wealth management companies. Proficiency in IT combined with competency in private banking qualify us to work at the interface between business and IT. With mandates in Europe, Asia Pacific and in the Americas, we successfully operate and perform in different environments, delivering both viable strategies and hands-on solutions.

Founded
1998
Based in
Switzerland
Operating across
Europe · Asia Pacific · Americas
Sigrid Unseld, Founder and CEO of Scilla Consulting

Founder & CEO

Sigrid Unseld

Sigrid has worked as an IT consultant for more than 25 years for major Swiss banks and private banks in Europe, Asia-Pacific and the Americas. She has managed international projects at program and project level and has experience in many areas of private banking including customer facing solutions, products and services, regulatory reporting and MIS. She has been responsible for the development of regional IT strategies, operating models, application and data architectures as well as for the evaluation and implementation of core banking packages and dedicated business applications.

Sigrid has a master in mathematics and a PhD in computer science. She is a lecturer for information management at the University of Zurich.

Services

01

IT Strategy

We help you design strategic roadmaps to take your business to the next level and to empower you to become truly excellent in your core competencies. In an era of increasing regulatory complexity, we work with you to develop IT strategies and tactical solutions that are aligned with regulatory oversight and the banks' business strategies, business and operating models.

02

Business Analysis

By working together with your business users and stakeholders, we understand your objectives and priorities. Our experience enables us to identify and document your requirements and to prepare functional specification for front, middle and back office solutions. We reengineer and develop business process models, analyse gaps between current and target, and position new requirements.

03

Data and Architecture

Good process, systems, and data architectures enable you to adapt quickly to new requirements and stay ahead of your competitors. We build best-fit architectures for your bank by using our competence in process engineering, data modeling and architectural design. We analyse, compare, and enhance your existing solutions or develop new solutions.

04

Feasibility Studies and Reviews

Banks are increasingly seeking to streamline their operations and systems. We review your application and data architecture, systems and system components, data models, and business processes. We help assess conceptual, functional and technical solution proposals, migration scenarios as well as governance structures for programs and initiatives.

05

Solution Evaluation

We evaluate commercial banking packages and inhouse banking platforms as well as systems / applications for specific business areas. During the evaluation process, we prepare request for proposals, investigate functional and technical feasibility, analyse gaps and the need for specify enhancements, and define integration and interface requirements. We also conduct comprehensive market surveys to identify candidate solutions.

06

Program Management

An external program manager brings a different perspective and a unique drive. We combine our international experience and local knowledge, skills and passion, in order to achieve your objectives. We provide guidance in program governance, funding models, stakeholder management and vendor management across business areas, divisions and geographies.

A Scilla initiative

AI Podcast Observatory

Navigating the fast-moving world of AI through independently assessed podcast episodes.

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Publications

Written and published 2013-2015

PDF · 01

Mobile Technology for Private Banking

Mobile technology cannot be ignored in today's wealth management sector. But what should a bank's mobile strategy be?

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PDF · 02

Private Banking and Social Media

In the last couple of years, most retail banks have entered the fray of social media. They have attempted to outdo each other with innovative ideas on how to connect with clients and prospective clients, via Facebook, Twitter and YouTube.

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PDF · 03

Einstein on Private Banking

Front office processes in private banking are becoming increasingly complex. Regulations around cross-border sales, suitability and KYC (know your client) - to mention just a few - are among the reasons for this increase.

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PDF · 04

Regulations for Private Banking

The compliance burden in private banking is not getting smaller any time soon. On the contrary, new regulations continue to mushroom, especially in the areas of client protection and tax compliance.

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PDF · 05

Empower Your Data Analysts

Alex, a private banker, has just finished a meeting with a client and leaves for lunch with his friend Ben, who is head of business development at the same bank.

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PDF · 06

Digging for Gold like Google

Despite the hype, Big Data is not a top priority for private bankers and wealth management CIOs. Maybe it's just terminology. But more likely it indicates that private banks don't exploit the full potential of their data. They should rethink their data management strategy and analysis approach by adopting the technology and algorithms employed by Internet giants like Google and Amazon.

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PDF · 07

Approaching Clouds

Pilots have always known: don’t fly into a cloud unless you are equipped with the right instruments and know the procedures. CIOs, CTOs, and other senior managers in private banking should learn from them and should not rush into cloud projects without clear objectives, an assessment of the project’s feasibility, and a business case supporting the project.

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PDF · 08

Zero Tolerance for Sensitive Client Data

For wealth management and private banking companies, data security and privacy have always been a top priority. Some senior managers may remember the days when client data was locked up in a standalone database with no connection to any other system in the bank.

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PDF · 09

Give Me a Visual

Eventually, the shift to digitalization will embrace wealth management and private banking firms. This is the tenor of industry experts. Improving the client experience, they say, has to be a key priority in the firms’ digital transformation.

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PDF · 10

Looking Over the Edge

Requirements engineering plays a crucial role in the success of a project, whatever the next technology and regardless of whether the bank’s biggest concern is compliance, digitization, or outsourcing. Requirements engineering commonly refers to the process of identifying and analyzing, documenting, verifying, and maintaining software requirements.

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PDF · 11

Outsource and Innovate

Talk to senior bankers, wealth management professionals, consultancy companies, and other industry experts about the state of private banking and wealth management, and you will find that, although the number of wealthy individuals is growing globally, they all agree that the industry faces significant challenges.

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PDF · 12

Dreaming of a Global Platform

Will the dream of a single platform for globally operating wealth management banks ever come true? Over the past two decades, many large banks have tried to standardize their wealth management booking centers with commercial banking packages or in-house solutions.

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PDF · 13

Don’t Fall into the Browser Trap

Communication is the essence of the relationship between the private banking client and the client advisor. Traditionally, private banking clients have met with their advisors to discuss investments and wealth planning. Today, even hard-core private bankers who strongly believe in face-to-face communication concede that their clients are increasingly using electronic devices to communicate, gather information, and share ideas.

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PDF · 14

Will Private Banks Survive?

In the wake of rapid digitalization, new players are entering the financial industry. Private banks are increasingly facing competition from technology-savvy rivals.

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PDF · 15

Who should Design the Private Banking Front Office?

The question is not whether private banks will outsource their back office but when. The back office carries no differentiating potential but puts a constant pressure on the bank to reduce IT and operations costs.

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PDF · 16

Large Private Banks need to revamp their IT

For large private banks, the shift toward digital banking creates a special challenge. Typically, large banks have a substantial IT department that manages an array of proprietary banking applications. This department can be an asset because it offers IT skills in-house, and it can be a liability because its organization may not be fit for digital banking.

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Contact us

Scilla Consulting GmbH
Zaehringerplatz 11
8001 Zurich
Switzerland
sigrid.unseld@scilla.com