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CAPITAL MARKETS

Financial Firm Delivers 30% Customer Growth With Digital Platform


The Challenge

A major non-banking financial services firm in India decided to move to a digital platform and deploy omnichannel communications to boost business growth. With an expanding product portfolio and plans to build a 90-plus million customer base, the firm’s growth was hampered by the lack of a digital platform. Relying chiefly on call centers and business reps for growth led to an increase in the cost of day-to-day operations. Due to Cognizant’s financial services and cloud expertise, plethora of digital offerings and clear client focus, the firm approached us to build a highly scalable, secure and resilient infrastructure environment.


Our Approach

We envisioned a digital-ready environment that would support a best-in-class omnichannel customer experience with self-service offerings for web and mobile users. To reach that goal, we recommended building the infrastructure on Amazon Web Services (AWS). This approach would keep capital expenditures to a minimum and provide automation capabilities to simplify the platform’s integration into the client’s systems. Other key features of this platform include real-time customer-focused analytics, operating services and managed layered security controls based on web application firewalls, proxy inspection, Amazon GuardDuty, AWS Config and AWS CloudTrail. Because it scales with business services based on application programming interfaces, the platform has no single point of failure. AWS Lambda, Amazon’s event-driven, serverless computing platform, enables the client to manage operational activity without worrying about server management.

AWS Platform Helps Lower Cost and Deliver Financial Products Effectively

Working with AWS, Cognizant created a flexible infrastructure that our client now uses to launch new financial products such as loans, insurance and EMI cards across channels. Our solution has helped the firm increase disbursements by 25% each quarter and delivered 30% customer growth. It has also reduced the loan approval process from three days to three minutes. Additionally, the firm has been able to expedite the deployment of both new products and digital services in a secure and efficient manner.

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30%

quarter-on-quarter customer growth

25%

increase in disbursements

Loan approval process

slashed three days to three minutes


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