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BANKING & FINANCIAL SERVICES

Virtual Bank Creates Next-Gen Customer Experience


The Challenge

An online-only financial services company experienced rapid growth by acquiring, building or enhancing five lines of business: account origination, auto finance, dealer interface, mortgage services and investments. But each line worked in a silo, resulting in inefficiencies and a lack of transparency that impacted revenue and damaged the customer experience. The company turned to Cognizant to create a next-generation platform that would address specific needs across its five lines of business and provide a unified experience across its customer base.


Our Approach

For auto finance, one of the bank’s largest divisions, Cognizant re-engineered its infrastructure, bringing in new third-party platforms and building systems and applications to modernize the bank’s interface with both auto dealerships and retail customers.

In addition, Cognizant helped develop a future-state vision prior to designing the bank’s digital mortgage capabilities. We built multiple interfaces with lead-gen providers to tap into new customer mortgage leads, which helps generate business for the bank. Our engineering team helped accelerate onboarding of the bank’s investments portfolio.

A Single Consolidated Customer Platform

Cognizant integrated the platforms of all five lines of business into one portal, providing customer access to all services and giving leadership a single, unified view of the entire enterprise.

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11 million

customers migrated to new digital platform

1,200+

interfaces merged under a single unit

Reduced

account origination time from 3-4 days to 3-4 hours

55,000

auto dealers modernized within 3 months


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