Technology Awards 2019 – Best Integration Advisor

2019 Winners

 

Best Integration Advisor

Cognizant

Who are you?
Cognizant is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 193 on the Fortune 500 and is consistently listed among the most admired companies in the world.

Our consulting-led approach, deep domain expertise and partner ecosystem make us the strategic partner of choice for our 285+ global and regional banking and financial services clients. Our 1,150+ consultants, industry and subject matter experts bring deep digital strategy, business and operating model, product and service innovation expertise to deliver end-to-end digital transformation projects for our clients.

A leader in Everest Group’s PEAK Matrix for Application Services in Capital Markets (2019), Banking Application Services (2018) and Open Banking IT Services (2018), Cognizant is recognised for our ability to develop innovative banking solutions at speed and at scale for our clients.

Describe your solution (i.e., that which is applicable to your award)
Cognizant has worked as advisor for multiple institutions in the private banking/wealth management industry, solving different product partners’ present business needs and also helping them to be future-ready. Working along with our tech partners, we implemented Wealth Management as a Service for a leading Chinese securities group across business lines and locations, resulting in lower IT run costs, simplified system landscape, and an increase in customer acquisition and revenue.

We worked with the Asia wealth business of a leading Swiss bank to execute the Back-to-Front Transformation journey with minimal customisation, helping the private bank to achieve standardised and streamlined business processes.

We offered Reconciliation as a Platform and renewal services for a Swiss multinational bank, creating a modern architecture that can handle large volumes of data comparison and data migration.

We also worked with a leading Singaporean multinational bank to transform its customer journey by implementing the Customer Onboarding and Client Lifecycle Management product, which interfaces with all core-banking systems.

What makes it stand out/apart from other similar solutions in the marketplace?
The distinguishing strength of our solutions for clients is based on a unique combination of capabilities that encompasses domain consulting, technology expertise, and integration experience. Cognizant has multiple expert teams and centres of excellence across data management, testing, program management, consulting, infrastructure, analytics, digital, etc. — and we carefully orchestrate these resources into the right mix to bring best-of-class integrated solutions to our clients.

Cognizant’s strengths lie in our extensive domain and consulting experience in the APAC private banking industry and our commitment to develop a highly skilled workforce that can adapt and scale to meet changing technology developments. This allows our integrated in-house business consulting division to not only understand our client’s business objectives and solve their immediate business needs but also prepare them to contend with future challenges as technology disruptions unfold. These capabilities make Cognizant a partner of choice for many of our private banking clients.

Explain how it adds value to the business of PBS/WMs
Cognizant has executed multiple strategic and critical programs for private banks and wealth management firms across APAC, directly contributing to revenue uplift, cost optimization, risk management and compliance/regulatory management. Some of our defining impact to APAC private banks are as follows:

  • Transformed the client relationship management structure through a new operating model, thereby improving client onboarding by over 30% and saving ~40% of RM effort on due diligence.
  • Defined and structured a future-ready business architecture that enabled the client bank to recalibrate its capabilities for revenue growth and client servicing.
  • Defined and established the APAC business analytics division for a global private bank to enable faster business insights to RMs, front office management, and risk and compliance management, resulting in ~30% faster client servicing.
  • Transformed and standardised the APAC business-operating and client-servicing model for a global private bank to improve client servicing.
  • Drove multiyear core modernisation initiatives that involved setting up future-ready and data-driven product-based banking platforms for multiple global private banks.

Contact details
Name: Navin Dulani
Position: Director, APAC banking partnerships
Email: navin.dulani@cognizant.com
Phone: +65 9198 1085
Address: 1 Changi Business Park Crescent, Plaza 8 @ CBP, #07-04/05/06 Singapore 486 025

Name: Neha
Position: Manager, APAC banking partnerships
Email: neha.lnu3@cognizant.com
Phone: +91 9958669177
Address: Tower C, Building No 6, DLF Cyber City, DLF Phase 3, Sector 24, Gurugram, Haryana 122010, India