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Case study

The challenge

Our client, one of the largest banks in the world, wanted to automate its time-sensitive processes so it could offer a high added value to clients, while performing the important work of detecting fraudulent charges, among other processes. One of the requirements was to automate the fraud and dispute management process, which monitors tens of thousands of credit and debit card posting transactions daily.

The bank was dealing with limited IT resources to handle the automation, preventing it from scaling to the enterprise level or addressing specific challenges. The automation plan was not a simple one and required accessing a very high volume of sensitive data across 25+ applications. The lack of staff, plus the need for an enterprise automation strategy and roadmap, created the need to bring in Cognizant as an automation partner.

Our approach

We began with an assessment of the business across three areas: fraud and dispute management, claims and alerts, and regulation and compliance. Following our initial discovery and creation of a scalable automation strategy that included an enterprise-wide level architecture, we moved forward to automate key business processes. A centralized operational model with a dedicated early engagement team, scalable development pods and a flexible support team was also set up. We used a Tableau dashboard to report input, output and outcome-based metrics, which resulted in a self-service capability that gives the business a real-time view of process performance during automation, reducing dependency on the support team.

During the implementation, we built and developed several automation capabilities such as automated health check bots to monitor application availability; code review and coverage bots to ensure code quality, efficiency and effectiveness; and frameworks such as Spring Boot & .NET to build reusable assets and components.

Paving the way for new automation

Our managed services engagement delivered the automation transformation our client wanted, from feasibility through all necessary automations. As the engagement structure allowed us to understand and predict what it would take to support the various bots, we were able to commit to a fixed capacity support team. This gave our customer the predictability and risk transfer needed to realize its automation vision.

Among several business benefits, the bank now has the capacity to process 30 million transactions annually. The engagement also defined the line of business level architecture framework for automation, which paves the way for new automations to use the established best practices, reusable components and standards for coding, naming conventions and more. In addition, several automation innovations we recommended are now standardized across the bank.

Reduced

number of exceptions from 100% to 8–10%

$20M saved annually

in staff/direct costs and infrastructure/indirect costs, through repurposing 425+ FTEs

20% decrease

in current average handling time

Improved ROI

for fraud and dispute-related processes, delivering $8.10 per every dollar spent