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Transforming T. Rowe’s COO technology, data and operations

The opportunity to build on T. Rowe’s transformation momentum and to innovate has never been greater. As T. Rowe looks to bolster its position as a leader in the asset management industry, the decision to invest in IT transformation is as exciting as it is promising.

See our commitment for yourselves

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Reintroducing ourselves

A lot has changed since we first became partners in 2006. As we've grown and evolved, allow us to reintroduce ourselves and reaffirm our commitment to excellence and collaboration as T. Rowe Price's strategic transformation partner.

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Message from our CEO

Our CEO, Ravi Kumar S, proudly presents Cognizant as T. Rowe Price's strategic transformation partner. With deep expertise in capital markets, advanced technology solutions, and a $1 billion investment in generative AI, we are well-positioned to support your goals and help investors thrive in the evolving world.

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Our solution highlights

We see significant opportunity to drive efficiency and maturity through elimination of effort, automation, standardization, simplification, an integrated operating model, and our talent strategy. To achieve this, we designed a three-phased strategic approach to service integration and transformation, called Engage, Enhance, Elevate.

  • Engage focuses on seamlessly completing transition with zero disruption to T. Rowe’s business from day one

    • Onboard right talent onboarding & culturally integrate with T. Rowe 
    • Successfully transition services in a risk mitigated manner with Gen AI assisted approach 
    • Enable Joint Transformation office, SMO 
    • Integrated change planning and execution 
    • Design the future state Operating model SLA, KPIs and OKRs 
    • T. Rowe Academy setup 
  • Enhance delivers synergized benefits and efficiencies

    • SRE enabled integrated Operating Model 
    • Drive operational transformation via debt management, Gen AI/automation infused service delivery, Integrated process and tools – Cognizant Neuro, Flowsource, and CDIT 
    • Enable product centric delivery, Engineering culture 
    • Improve user experience
    • Synergize Service delivery with robust quality assurance framework
  • Elevate emphasizes transformation and innovation

    • Deliver world class transformation services  
    • Enable capability uplift across T. Rowe 
    • Drive business Value Management
    • Scale Outcome based delivery  
    • Build market differentiators  
    • Joint “Bluebolt”, pacesetter innovation programs  
    • Inculcate Gen AI Labs and ecosystem 
    • Make T. Rowe account of choice for Cognizant associates

Our capabilities

Customer success story

The Challenge

The primary aim was to revolutionize one of largest US bank's operations, transitioning from a traditional banking model to a cutting-edge fintech enterprise. This transformation necessitated a significant reduction in the bank's datacenter footprint, aiming to go from maintaining nine datacenters to operating without any. Another key objective was to harness the power of machine learning to drive innovative financial services. The bank also sought a modern IT infrastructure that could be scaled up or down easily at optimal costs, compared to the existing on-premise datacenter setup.

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Cognizant’s Solution

Cognizant partnered with the client to execute a cloud transformation strategy. This included migrating applications using various models, modernizing legacy platforms to microservices architecture, and transitioning databases to cloud solutions like Snowflake and Redshift. The offloading process moved from licensed ETL tools to open-source alternatives. Teams were reskilled for AWS infrastructure management, and a DevOps pipeline was implemented to automate releases, which significantly cut down time to market. This comprehensive approach modernized the bank's operations and supported innovative financial services.

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The Results

The transformation resulted in a resilient and highly available platform, enabling the client to handle high-volume spikes without any service disruptions. The reduction in time-to-market was significant, with new feature releases now being deployed in two-week sprint cycles, as opposed to the previous quarterly release model. The client achieved their goal of adopting a "pay per use" model, leading to a substantial reduction in infrastructure costs by eliminating the datacenter setup. The overall success of the cloud transformation journey not only modernized the bank's operations but also paved the way for innovative financial services that could adapt to the ever-evolving market demands.

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Additional case studies

AI chatbot cuts $6.7M in costs

A large wealth management company needed to reduce contact center operating costs. Agents were spending much of their day responding to high-frequency, low-complexity requests, which was a drain on employee productivity and morale.

A seamless move to the cloud

For years, the technology platform of a leading global investment firm, which manages over $1.5 trillion in assets, was built on an on-premises software/servers' solution. The firm was looking to migrate its front- and back-office applications to the cloud.

Automation speeds investor updates

A private equity asset manager’s preparation of quarterly investor updates was slow and tedious. With fund data tracked in Excel spreadsheets, it took days to convert performance data into reports. The problem spiraled as the firm added new funds… and more reports.

Industry awards & accolades

Our standard of excellence

From being named by Forbes as one of the World's Best Employers 2024 to landing a coveted spot on Newsweek's America's Most Responsible Companies 2024 list, these accolades highlight our ongoing commitment to promoting workforce diversity, fostering a healthy work environment, and more.

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The future of capital markets: An analyst's perspective

Top financial institutions rely on Cognizant to transform their technology and business landscape. We leverage cutting-edge technologies like Artificial Intelligence and Machine Learning, Blockchain, Cloud, Cybersecurity, Predictive analytics and Real-time Payments Fraud solutions to achieve this.

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Thought leadership & insights

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Our values & impact

Diversity & Inclusion

Cognizant's commitment to diversity is experienced in a vibrant, future-forward culture that values and leverages the uniqueness of every individual. This approach forms the foundation of our success, ensuring we embrace new perspectives not only for better business results but for the collective advancement of all.

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Culture & Values

We apply the same intuition-driven approach we bring our clients to our own organization. We support our high-performing team with the tools they need to gain insight and speed—so they can respond in real time to everyday challenges, while growing their skills and advancing their careers.

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Sustainability

Engineering impact for good. Our award-winning programs empower people to succeed in tomorrow’s jobs and shape a more sustainable future.

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Be a part of what’s next with Cognizant

Intuition engineered—human insight, superhuman speed.