Capital One is expanding into new markets, launching Capital One Software, an enterprise B2B software business.
Capital One is already one of the leading companies in the US banking industry. The company has a long history of using the cloud to power growth and solve problems, and now it wants to leverage that experience to help its customers do the same with its Capital One Software.
The new business’ first product is Capital One Slingshot, “a data management solution for customers of Snowflake, the Data Cloud company.” Slingshot is built on Capital One’s experience managing vast amounts of data, and will help customers scale their cloud data, automate governance, and manage costs.
“As one of the first large enterprises to go all-in on the public cloud, Capital One has pioneered the adoption of modern data and cloud capabilities. We’ve solved technology challenges faced by America’s largest enterprises and increased our speed and agility in delivering breakthrough products and experiences for customers. We recognize that many other businesses are facing similar data management needs as they accelerate their cloud and data journeys, so bringing some of the tools we’ve built and scaled to market as enterprise B2B software solutions is a natural evolution for us,” said Ravi Raghu, Executive Vice President, Head of Capital One Software. “Starting with the launch of Capital One Slingshot, Capital One Software will offer proven solutions that have been battle-tested by one of the nation’s largest enterprises serving more than 100 million customers.”