Capital One is a leading financial services company based out of Washington DC. Their Global Capability Center (GCC) is based in Bengaluru and like other GCCs, they build software solutions for their parent organisation.

Capital One’s GCC, however is different.

It became so adept at managing data, and solving unique banking challenges, that their work morphed into a market-ready product called “Slingshot“.

Today, besides for their parent organisation, Capital One’s GCC is also innovating for the larger universe of fin-tech companies, unlocking internal capabilities to broaden potential sources of revenue.

This is like Amazon Web Services, AWS, which started out as an in-house necessity to manage the deluge of e-commerce transactional data, but then ballooned into a whole new, highly profitable business for Amazon.

Today AWS contributes 20% of Amazon’s revenues and is still growing at double digits. No mean feat, considering Amazon clocked $150bn+ in revenues in Q1 2025.

With a mindset of business model innovation at the top, every company with an IT department could, technically be, a technology company.

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