CapOne trying to launch their own Aladdin....
Capital One enters enterprise B2B software, new data management SaaS
41–50 of 63 posts
Re: Capital One enters enterprise B2B software, new data management SaaS
#42Earlier quoted context omitted.
Weird. In my circles, and the circles of people who are in the market for such a product, snowflake indicates a particular design pattern for designing data warehouses.
You’re both right. Snowflake as a technical slang/jargon generally refers to “flaky” or light-weight solutions that aren’t expected to withstand the test of time/scale. Snowflake, the data warehousing platform, on the other hand is a juggernaut - in a league of it’s own (I suppose comparable to BigQuery and RedShift).
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Re: Capital One enters enterprise B2B software, new data management SaaS
#43Can't wait for Goldman Sachs Software
They have some pretty good software:
Re: Capital One enters enterprise B2B software, new data management SaaS
#44No post body was provided.
Re: Capital One enters enterprise B2B software, new data management SaaS
#45Earlier quoted context omitted.
I've seen so many companies in multiple domains including consulting firms be so proud of their software they try to sell it on the open market. I've also never seen it succeed. Whatever you have to say about Capital One as a bank or as a software company, they are absolutely top tier when it comes to marketing. At least B2C marketing. If they succeed at this it will be on the strength of their marketing.
Yes, this a thousand times over! Why would I spend 100x the cost to buy an internally developed solution that is barely an MVP product when I could buy a market leading, polished, SaaS product from a vendor who takes me out to dinner and ballgames? They also have implementation and professional service teams to help install said product quickly and efficiently, and many third party consulting firms if I need even mor…
> Why would I spend 100x the cost to buy an internally developed solution that is barely an MVP product when I could buy a market leading, polished, SaaS product from a vendor who takes me out to dinner and ballgames?
Sooo... not Google products?
Re: Capital One enters enterprise B2B software, new data management SaaS
#46Here’s a direct link to Capital One Software: https://www.capitalone.com/software/ And a link to the first product they launched, “Slingshot”: https://www.capitalone.com/software/solutions/ Essentially it sounds like Capital One is taking some of their internal tooling and starting to sell it, starting with their tooling for managing Snowflake instances.
I see they’ve already mastered the enterprise software technique of a “screen-by-screen video” that shows zero actual screens of the actual product, just a series of animations vaguely indicating business processes that are efficient & scale & managed etc.
it's like our version of the "Turbo Encabulator" https://www.youtube.com/watch?v=Ac7G7xOG2Ag
Re: Capital One enters enterprise B2B software, new data management SaaS
#47Well… I read it. And I’ve gotta say, that sounds like a blatant violation of Regulation Y, the requirement that bank holding companies engage only in, “The business of banking.” There are lots and lots of activities that fall under that umbrella, but enterprise B2B software sales isn’t one of them. CapOne may be too big to fail, but it’s not too big to receive a C
Which Capital One is breaking Regulation Y?
Capital One Bank (USA) N.A. — Currently offers a wide variety of credit card products, other lending products, and deposit products.
Capital One, N.A. — Offers a broad spectrum of banking products and financial services to consumers, small businesses, and commercial clients, including traditional banking products through an extensive branch network in Connecticut, the District of Columbia, Louisiana, Maryland, New Jersey, New York, Texas, and Virginia.
Capital One Auto Finance, Inc. — Offers automobile financing products.
Capital One, N.A., Member FDIC
Capital One, National Association
Capital One Bank
Capital One Bank, N.A.
Capital One Bank, National Association
Capital One Bank (USA)
Capital One Financial Corporation
Capital One Home Loans LLC
Capital One Services, LLC
Capital One Settlement Services, LLC
Re: Capital One enters enterprise B2B software, new data management SaaS
#48Having used to work at Capital One within Shared Tech, I worked with a lot of really brilliant engineers who could easily have been working at FAANG. That being said, they didn't pay as well as FAANG so a lot of us moved on.
I'm not surprised at all by this move, there's a lot of solutions at Capital One that can be monetized. The company is so large that there's redundant solutions concurrently developed by different teams, inevitably someone was going to work the bureaucracy to start selling SaaS
Re: Capital One enters enterprise B2B software, new data management SaaS
#49Here’s a direct link to Capital One Software: https://www.capitalone.com/software/ And a link to the first product they launched, “Slingshot”: https://www.capitalone.com/software/solutions/ Essentially it sounds like Capital One is taking some of their internal tooling and starting to sell it, starting with their tooling for managing Snowflake instances.
I've been out of consulting for 7 years now, so I don't know how widespread or old the trend is, but I'm seeing a lot of banks moving to a product operating model for their internal/backend software. The last place I worked had been at it for a couple of years and there were a few teams that really ran with it. At some point why not turn them into a profit center?
The trend of banks outsourcing software dates back decades. The "online banking" systems of most small banks and credit unions are outsourced, for example; if you have three branches and an IT staff of two people, you're going to struggle to maintain those sorts of systems yourself, never mind developing them in the first place.
Re: Capital One enters enterprise B2B software, new data management SaaS
#50Here’s a direct link to Capital One Software: https://www.capitalone.com/software/ And a link to the first product they launched, “Slingshot”: https://www.capitalone.com/software/solutions/ Essentially it sounds like Capital One is taking some of their internal tooling and starting to sell it, starting with their tooling for managing Snowflake instances.
I see they’ve already mastered the enterprise software technique of a “screen-by-screen video” that shows zero actual screens of the actual product, just a series of animations vaguely indicating business processes that are efficient & scale & managed etc.
My number one pet peeve in the sales cycle. We just docusigned to switch to a new platform - 50% of this was because their demo and other videos ACTUALLY SHOWED THE PRODUCT and they had youtube playlists with more!!