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COGNIZANT CONSULTING
Helping organizations engage people and uncover insight from data to shape the products, services and experiences they offer
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  • Simplifying, modernizing and securing the IT infrastructure and applications that are the backbone of your business.
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COGNIZANT CONSULTING
Helping organizations engage people and uncover insight from data to shape the products, services and experiences they offer
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Banking & Financial Services

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SEGMENTS WE SERVE
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From cross channel optimization to managing risk and regulatory compliance, industry leaders choose us to help them work better and work differently.

Whether it's driving innovation or delivering new efficiencies and cost reduction, Cognizant is redefining the way companies benefit from global services.

SEGMENTS WE SERVE

SEGMENTS WE SERVE

  • Asset & Wealth Management

    Application development services for wealth management, BPO and consulting for hedge funds and asset management services for mutual funds.

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  • consumer lending

    Solutions for financial institutions addressing business and technology challenges across the mortgage, auto and student loan segments.

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  • cards & payments

    Includes card management and payment processing services for credit, debit, private label and smart cards, along with the latest mobile solutions.

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  • Governance, Risk & Compliance

    A standardized approach to designing risk measurement frameworks, data capturing, data modeling and advanced reporting.

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  • Investment Banking & Brokerage

    Proven frameworks and solutions for front, middle, back office and exchange operations for a wide range of asset classes.

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  • Retail & Wholesale Banking

    Our solutions optimize core processes for consumer lending, commercial lending, financial messaging and transaction banking.

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  • Securities Services

    We support the processes involved in clearing and settlement, collateral management, core custody systems, fund and trust services and more.

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90%

Of U.S. and U.K. consumers believe that banks are focused purely on transactions, such as depositing money, checking account statements, etc.
Learn about the Future of Money and why slow money matters.

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.

A wide variety of services across the financial services spectrum:

  • Front, Middle and Back Office Solutions
  • Transaction & Application Processing
  • Mobile Payments
  • Credit & Operations Risk Management
  • Retail Banking
  • Trade Finance

OUR LATEST THINKING

RESULTS

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
  • New Loan Origination System Standardizes Processes

    • RESULTS

    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

    • 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

    • 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

    • 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
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