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Smart packaged solutions to help banks transform for the digital age.
Respond to rapid changes and enhanced modes of payment with new capabilities that let your banking organization retain customers and regain profits.
Simplify and secure your bank’s payments processes and platforms.
Prepare for the systems and processes you need to comply with the California Consumer Privacy Act (CCPA).
Our comprehensive strategy enables retail and commercial institutions to implement a payment platform for domestic and international payments.
Key offerings include:
Gain a competitive edge with digital payments.
Cognizant Digital Payment offerings include:
Modernize your organization’s data-management strategies to generate valuable insights.
Cognizant Data Management Strategy’s offerings include:
Our end-to-end solutions ensure your back office runs smoothly.
Cognizant Digital Back Office solutions include:
Our teams implement industry-leading COTS products, including payment switches, gateways, and hubs and card management systems.
Cognizant payment product offerings include:
A U.S.-based global payment solutions company wanted to protect its payment processing platform from brute force attacks by credit card fraudsters. These attacks compromised the security of the company’s payment platform, resulting in significant network fees for declined transactions. The company approached Cognizant, its IT consulting provider, to develop a fraud early-warning solution that would block stolen card numbers in real time.
Cognizant's banking technology team designed a real-time rule-based solution specific to the company’s needs and deployed it within 10 months. It was designed with minimal hardware, using open-source products wherever possible, thus significantly lowering the implementation costs. If a rule is violated, the payment processing platform declines the transaction and flags the card as an exception. If the rule violation continues, as is the case with brute force attacks, the card number is blocked within 25 seconds.
This solution was designed to scale as fraud patterns change. It learns new fraud behaviors, providing continuous insights to the company’s compliance team so additional rules can be devised.
Cognizant’s early detection solution significantly reduces brute force attacks and the resulting network fees by $50,000–$60,000 per month. The system detects more than 1,500 violations per day at the authorization level, thus providing an additional layer of security to merchants and cardholders.
reduction in network fees
detected violations per day
insights to continuously develop new rules
cardholder data from being detected by fraudsters
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.