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Digitize Processes, Propel Impact

STAY AHEAD OF CHANGE WITHOUT DISRUPTING YOUR BUSINESS

Reshape your operating model to stay ahead of digital consumers.

SHARPEN YOUR COMPETITIVE EDGE


Reinvent core processes at the heart of your business to enhance operational agility and underpin new capabilities.

Digital is reshaping the banking services landscape, mandating firms to shift from an overreliance on legacy IT systems and traditional business models toward nimble, customer-centric processes.

While one measure of success in this industry was once fixed, standardized repeatable processes, digital channels, newer technologies and the need for data insights have created a strong need for agile operating models with redefined and reimagined processes. 

To support hyper-targeted and personalized products and customer experiences, leading banks need highly automated, adaptable and agile processes. Only then can they quickly pivot to accommodate the latest technology innovation, as well as industry and customer demands.

We help retail and commercial banks digitize the value chain through technology, robotics and analytics to redesign the customer experience while minimizing disruption through a well-documented operational playbook.

COGNIZANT—A RECOGNIZED LEADER

 

SERVICES

OPTIMIZE OPERATIONS THROUGH PROCESS AUTOMATION


With new digital operating models, banks are freed to budget and allocate resources to focus on innovation and service quality—the lifeblood to moving in lockstep with today's digital consumers. We help banks drive new operating models to boost revenue and control costs.

  • MORTGAGE OPERATIONS

    EXCEED BORROWER DEMAND WITH DIGITAL

    Today’s borrowers expect an omni-channel and hyper-personalized approach, where banks come up with proactive solutions, and maybe stronger financial management abilities, rather than just provider updates or single channel support. 

    Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses.

    Our capabilities span:

    • Compliance, audit, quality assurance and control
    • Fulfillment (processing, underwriting, closing/funding and delivery) for retail, wholesale and correspondent
    • Loan administration including escrow and loan maintenance
    • Foreclosure servicing 
    • Call center support 
    • Finance and accounting
    • Settlement services


    Each solution delivers a re-invented focus on the new ways of borrower engagement combined with self-service tools, helping you to ensure the best possible user experience for your customers and reduce the cost of servicing a loan while providing better adherence to compliance requirements.

  • LENDING OPERATIONS

    MODERNIZE LENDING PROCESSES FOR NEW OPERATING MODELS

    Cognizant’s Lending Digital Operations practice has experience in performing activities across the value chain. We service a variety of clients including originators, servicers, banks, credit unions, brokers, realtors, appraisers and title companies.

    Our end-to-end service offerings include origination, servicing, default management and specialized services to provide processing and transformation support.

    Services include:

    • Origination, including support for application processing, underwriting, closing and post-closing audits.
    • Servicing and default management, including support for escrow administration, loss mitigation, bankruptcy, foreclosure, REO and claims processing.
    • Specialized services, including support for flood, appraisal, valuation and field services.
    • Exposure to various loan types, including residential, commercial, auto, student and consumer.
    • Experience on industry leading platforms, including Dorado, Fiserv, Encompass, MSP, Unifi, Capstone, ARGO and ACBS.
  • DIGITAL FINANCE AND ACCOUNTING

    DIGITALLY TRANSFORM FINANCE AND ACCOUNTING WITH SPEED AND SCALE

    At many companies today, finance and accounting functions are overly focused on operations instead of proactively driving business outcomes and compliance. With multiple legacy systems, poor data quality and non-standard processes, companies need services to stabilize operations and drive lower costs and higher productivity and revenue opportunities.

    Cognizant offers an orchestration layer for finance and accounting—a cloud-based platform with built-in workflows that connect to multiple legacy systems with an embedded analytics engine for real-time visibility to monitor business metrics. Combining disparate processes into a unified whole—backed by operational insights and continuously-optimized managed services—we help you optimize working capital and reduce operating cost and days sales outstanding (DSO), to enhance financial control and support for complex regulatory requirements.

    Our agile operating model provides a proven framework to integrate employees into ready-to-deploy, industrialized processes that enhance customer and employee experiences with hyper efficiency.

    LEARN MORE

TARGETED SOLUTIONS

DELIVER MODERN DIGITAL EXPERIENCES


Smart packaged solutions to help banks transform for the digital age.

  • CUSTOMER 360

    ACHIEVE NEW CUSTOMER INSIGHT

    Cognizant Customer 360 is a smart packaged solution that helps banks transform for the digital age. It provides a real-time view of customer relationships across all products in the bank. Built and deployed on the cloud, Customer 360 eliminates batch processes and creates customer profiles instantly.

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  • APPLICATION AND INFRASTRUCTURE SUPPORT

    GAIN OPERATIONAL EFFICIENCIES

    Cognizant Application Infrastructure Support simplifies your IT environment and saves costs by standardizing across operations, tools and processes. It enables you to eliminate recurring issues and perform change management without impacting application availability. Offerings include a debt management framework, catalog service delivery at scale and co-located teams for speedy service restoration.

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  • COGNIZANT INTELLIGENT MORTGAGE ADVISOR

    TRANSFORM THE HOME BUYING EXPERIENCE

    Cognizant Intelligent Mortgage Advisor is a cognitive assistant for home buyers that offers custom loan recommendations and starts the application process. It helps answer customer questions and provides updates on application status. A 2018 report from HFS named it one of the best examples of conversational AI.

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  • ROBOTS-AS-A-SERVICE

    PREPARE FOR THE FUTURE

    Cognizant Robots-as-a-Service (RaaS) automates repeatable operations and scales seamlessly to address all volume of work. It lets your organization automate operations such as ordering services from third parties and seamlessly addresses any volume of work. With RaaS, you’ll be able to launch initial operation within as little as 12 weeks.

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  • REAL-TIME PAYMENTS

    DEEPEN CUSTOMER RELATIONSHIPS

    Cognizant Real-Time Payments responds to rapid changes and enhanced modes of payment with new capabilities to retain customers and regain profits. It enables your bank to provide branded digital wallets that offer customers, anytime, anywhere commerce in stores, mobile apps and online. Our solution includes expedited implementation of The Clearing House (TC) real-time payments and a SWFT message generator.

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  • PAYMENTS MODERNIZATION

    ATTAIN THE DIGITAL EDGE

    Cognizant Payments Modernization simplifies and secures your payments processes and platforms. The solution includes enterprise payments strategy and design, core platform assessment, and platform re-architecture services. Leveraging our innovative user experience, your organization will boost transaction processing throughput and improve speed to market.

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  • REGULATORY SYNERGIES FRAMEWORK

    FAST, EFFICIENT COMPLIANCE

    Cognizant Regulatory Synergies Framework helps you adhere to new regulations faster and at a lower cost. You can gain a detailed understanding of your organization’s risk capabilities and spend less time—and expense—on compliance. Offerings include identification of regulations with overlapping impact and an integrated data governance framework.

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  • NEXT-GEN AML FRAMEWORK

    AUTOMATE AML ALERTS

    Cognizant Next-Gen AML Framework is an anti-money laundering solution that automates alerts and provides fewer false positives and negatives. The service uses artificial intelligence (AI)-based pattern matching to avoid the alerts that traditional AML programs generate. It lowers operational costs, facilitates faster alert investigation and improves detection by learning new patterns.

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TAKE THE FIRST STEP

Serving customers by looking forward as well as back is a big promise, but the power of today's new digital capabilities is vast and growing.

Let's talk about how digital can work for your business.

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