Digital cameras typically offer a range of ‘picture styles’ to suit different subjects or different tastes in color rendition. Canon calls these Picture Styles, Nikon calls them Picture Controls and other camera makers have their own names.
Velvia is the name of a color slide (transparency) film made by Fujifilm. It's famous for its dense, saturated colors and strong contrast. Fujifilm's digital cameras have a Velvia Film Simulation (amongst others) to recreate the look of Velvia film digitally.
Is Capture One now the best RAW converter of all for Fujifilm owners? Phase One has added support for the Fujifilm GFX, launched a new, free Capture One Express Fujifilm app, and Capture One 12 now adds Fujifilm Film Simulation modes.