Banking & Financial Services
After decades of strong growth, banking and financial services firms today face a changed environment—slowing growth, ageing population, increased regulatory/capital costs and stronger enforcement of customer transparency practices are just some of the challenges. That’s why our clients in financial services need tailored and specific advice based on the business realities of this sector—and that requires intimate knowledge of the financial services value chain, products and systems.
The strength of our services consulting practice is deep banking and capital markets domain expertise—borne out of years of hands-on experience as bankers and brokers in the financial services industry and as business analysts and consultants on the technology side for our clients. Our consultants have delivered innovative business solutions in areas such as customer experience, enterprise risk and compliance, core platform renewal, operations outsourcing, and integrated payments processing. Our broad and deep domain expertise in financial services has helped Cognizant build one of the largest financial services consulting teams among tier one offshore firms.
Services and Solutions
Blueprint for New Business / Operating Models
Partner with us to design, manage and implement strategic change programs including post-merger integration, core platform renewal and operations outsourcing.
We enable you to adapt your operations, IT and process landscape to the ever-changing regulatory environment with our regulatory impact assessments, risk management solutions and our compliance process and systems audits.
We assist you in completing your IT projects through the use of package implementation consulting, enterprise data management and reporting and requirements management/functional specifications.
Segments We Serve
- A leading US Midwestern bank streamlined its sales process and switched to a relationship-banking business model leading to faster identification of sales opportunities and improved customer acquisition and retention rates.
- The treasury services division for a leading asset management and securities services company undertook a strategic initiative and created a world-class payment processing system generating additional yearly revenue of $50 million.
- For a global payments technology company, our consultants helped define a futuristic solution that is reducing process complexity, improving data consistency and traceability, and increasing customer satisfaction.