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<h5><b>Capital Markets case study</b></h5>
<h3 class="m-0 pb-1"><b>At a glance</b></h3>
<p><span class="text-accent1-light"><b>Industry<br> </b></span>Capital markets</p> <p style="margin-bottom: 0; line-height: 26.0px;"><span class="text-accent1-light"><b>Challenge</b></span></p> <p>Transform an outdated technology platform and drive the successful relaunch of a prepaid card business to serve the bank’s corporate clients and their employees and customers.</p>
<p><b><span class="text-accent1-light">Success Highlights</span></b><br> </p> <ul> <li><b>$30 million </b>in transactions in one year</li> <li><b>500</b> hours saved in developing the solution</li> <li><b>80%</b> increase in cardholder portal registrations</li> </ul>
<h3><span class="text-accent2-dark"><b>Our approach</b></span></h3> <p>Cognizant collaborated with the bank to define a new prepaid business roadmap for modernizing its infrastructure to meet the new requirements. With a team of multiple SMEs in both technical and non-technical spaces, Cognizant used an agile approach to drive transformation for the bank’s prepaid platform relaunch. </p> <p>Cognizant got to work building a real-time direct funding platform supported by digital technologies, including a mobile-enabled user interface (UI) and access to a suite of secure, cloud-hosted application programming interfaces (APIs) through the bank’s gateway. </p> <p>The new platform’s highlights:</p> <ul> <li>Creation of bank-branded physical (plastic) and virtual (online) prepaid cards</li> <li>A new online client portal, including a simple dashboard to onboard customers, initiate/settle near-real-time payments, track transactions and manage the program</li> <li>A new customer portal experience available via desktop and mobile, enabling cardholders to access funds in seconds, spend those funds anywhere VISA® is accepted, and manage and track funds.</li> </ul>

<h3><span style="font-weight: normal;"> <b><span class="text-primary">Business outcomes</span></b></span></h3> <p>Taking end-to-end ownership of the program, Cognizant created a modern solution that achieved the bank’s goal: to create a corporate prepaid relaunch program via a hybrid cloud-hosted application rollout supported by digital technologies, with mobile-enabled UI and cloud-hosted API for integration with customer systems.</p>

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