The next step was to build a platform with more NatWest Boxed-owned intellectual property and greater scope for reuse. In light of this, Capco and NatWest Boxed worked together on the platform’ s design and delivery, while also considering what else it might support in the future.
“ We would always say:‘ We want to make really smart decisions where we leave lots of doors open’,” Chris says.“ We’ re not going to walk through all of those doors right now, but we leave them open.”
That approach gave the team room to respond as the market developed. Having been key to transforming Mettle, the platform’ s capabilities could be applied to NatWest’ s embedded finance proposition – the work that ultimately became the focus of NatWest Boxed.
Laying the foundations for what comes next Capco’ s involvement has evolved each time NatWest Boxed has reached a new stage. The consultancy helped build Mettle, supported the development of the platform and then worked on embedded finance. With that proposition now largely run by the NatWest Boxed team, Capco is supporting the next phase: embedded lending.
“ We’ ve always planned things together and found new things we can do to make NatWest Boxed more successful – and the Capco team has then focused on whatever that turns out to be,” Chris says. This shared approach has been central to the development of the relationship over eight years.“ It is very honest and a true partnership: at the end of the day, NatWest Boxed’ s success is our success.”
This“ five-, six-, seven-year vision” has played out in the way the team hoped, Chris says, adding that it also reflects a willingness to adapt, rather than remain tied to the original plan.
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