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January, 12, 2015

Cognizant Schedules Fourth Quarter 2014 Earnings Release and Conference Call


The Cognizant Difference

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Consulting & Solutions

Our consulting and solutions offerings help you run better and run differently. Our industry expertise and business solution capabilities are both deep and broad in financial services.
Solution Spotlight
Our financial services experts pinpoint process and technology problems, leverage industry standards to map out solutions and enhance business efficiency.
A wide variety of services across the financial services spectrum:


Future-Proofing Insurance: Deepening Insights, Reinventing Processes and Reshaping Services
Insurance carriers face an imminent sea change in how their mission-critical processes remain efficient, agile and innovative. Ensuring relevance in the future requires redefined business models fueled by heightened productivity across “business as usual” activities.
Bank Mergers and the Critical Role of Systems Integration
Bank mergers and acquisitions have become increasingly common worldwide — compelling institutions to migrate and integrate technologies from various areas within and outside the core organization. Advance planning and due diligence can help assure a seamless integration and minimize issues related to interconnectivity, the market, credit quality, innovation, liquidity and regulatory compliance.
Default Mortgage Servicing Simplified
Default mortgage servicers face a daunting array of regulatory and operating challenges, making a unified default servicing platform an excellent option. We weigh the pluses and minuses and assess build vs. buy considerations.
Deliver Trusted Data by Leveraging ETL Testing
We explore how extract, transform and load (ETL) testing with SQL scripting is crucial to data validation and show how to test data on a large scale in a streamlined manner with an Informatica ETL testing tool.
Software for Payment Cards: Choosing Wisely
As the use of card-based payments continues to grow, financial institutions must improve their response times, strengthen their security, hone their future-readiness and enrich their business value. When selecting a commercial off-the-shelf (COTS) solution, banks must verify that the product and its support services are equipped to accommodate short and long-term business and IT objectives.
Digital Transformation of U.S. Private Banking
U.S. private banks need to rethink their business models and accelerate their push to meet the ever-rising expectations of digitally savvy high-net-worth clients.
Dissecting Basel III by Geography
The impact of Basel III, also known as The Third Basel Accord, will vary by geography -- from potentially slowing down economies in emerging nations, to protecting the European Union from financial collapse, to increasing capital adequacy and improving risk management. Given the framework and timeline for implementing Basel III, the burden falls on national regulators to translate the international guidelines into national policies that suit and stabilize their economic environment and support economic growth.
Asian Private Banks: How to Embrace Digital Transformation
As Asian investors increasingly use social, mobile and analytics technologies for their wealth management needs, private banks must take a digital approach to more effectively deliver meaningful, high-value-adding interactions and tailored advice.
Making Analytics Actionable for Financial Institutions (Part II of III)
To identify meaningful use cases for analytics-driven banking and financial services solutions, organizations need a thorough understanding of how customer interactions align with context and anticipate needs, while simplifying the decision-making process.
Trade Surveillance with Big Data
Real-time, high-frequency trading (HFT) is placing increasing pressure on regulatory compliance teams to keep up with and monitor the industry's widening pools of structured and unstructured data. Emerging technologies can help capital market firms use big-data analytics to collect, classify and analyze high volumes of data to formulate strategies for better surveillance, compliance and spot abuse.


  • New Loan Origination System Standardizes Processes
  • New UAT Systems Saves $200,000 per Year
  • Exceeding the Requirements of
    Basel II
  • Online Banking System Upgraded

New Loan Origination System Standardizes Processes

For a U.S.‑based residential mortgage originator, we developed an integrated loan origination system (LOS) that catered to the different requirements of various business channels.

The new LOS ensured standardized business processes, flexible product releases and far less redundant data thus improving cycle times.

The system has resulted in ongoing cost savings due to reduction in support and maintenance requirements, streamlined business processes and a more standardized architecture.

  • Ongoing cost savings
  • Reduced support & maintenance needs
  • Streamlined business processes
  • Standardized business architecture

New UAT Systems Saves $200,000 per Year

For a diversified financial services provider, Cognizant set up a centralized user acceptance testing process (UAT) for the company’s entire card application and servicing portfolio.

The UAT team focused on test design, business test artifact creation and test management.

The resulting automated system saved the organization an estimated $200,000 per year. The client also realized a 70% cost savings on test design effort by leveraging artifact reuse across multi-market rollouts.

  • Saved $200,000 per year
  • 70% cost savings on test design
  • Artifacts reused across multiple markets

Exceeding the Requirements of Basel II

Cognizant developed a workflow-based, web-enabled system for a leading North American bank to automate collection of loss data on operational risk.

This was done to improve operations and prepare the bank to comply with the requirements of the Basel II Accord.

The new system centralized data capture, facilitated customized reporting and calculated capital charge for operational risk parameters. It functioned across various sub-systems, geographies, pricing and reporting of operational risk all complied with Basel II.

  • Prepared the bank for compliance with the Basel II Accord
  • Automated collection of loss data
  • Improved operations

Online Banking System Upgraded

We helped a leading European bank upgrade their online banking system. The upgraded system provided numerous benefits to customers, including the ability to pay bills online.

Other upgrades included a revamped Electronic Bill Presentment and Payment Service (EBPP) and Safekeeping, Portfolio Management, Payments and Security Trading functions.

The EBPP functionality created a new revenue stream, while the Service-Oriented Architecture (SOA) utilized allowed the bank to Unify business processes across multiple channels to customers.

  • Upgraded a European bank’s online banking system
  • Revamped system opened the door to new revenue streams
  • Service-Oriented Architecture (SOA) leveraged across channels
  • New Loan Origination System Standardizes Processes
  • New UAT Systems Saves $200,000 per Year
  • Exceeding the Requirements of
    Basel II
  • Online Banking System Upgraded

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