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Cognizant - Transforming Core Banking Services
Vendor Analysis
published on Nov 18, 2024
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Report Overview:
This NelsonHall vendor assessment analyzes Cognizant's offerings and capabilities in core banking services
Who is this Report for:
NelsonHall’s ‘Transforming Core Banking Services’ profile on Cognizant is a comprehensive assessment of Cognizant’s offerings and capabilities for the core banking sector, designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of technology and operational services and identifying vendor suitability for core banking services in RFPs
- Vendor marketing, sales, and business managers looking to benchmark themselves against their peers
- Financial analysts and investors specializing in the support services sector.
Scope of this Report:
The report provides a comprehensive and objective analysis of Cognizant’s BFS-focused core banking service offerings and capabilities and market and financial strength, including:
- Identification of the company’s strategy, offerings, and new developments
- Analysis of the company’s strengths, weaknesses, and outlook
- Revenue estimates
- Analysis of the profile of the company’s customer base including the company’s targeting strategy and examples of current contracts
- Analysis of the company’s offerings and Cognizant service components
- Analysis of the company’s delivery organization including the location of delivery centers.
Key Findings & Highlights:
Cognizant delivers core transformation services using its Cognizant Integrated Banking Suite reference architecture. It customizes its delivery based on the domain knowledge it has gained over 30 years of working with the banking industry. This knowledge extends to subsector processes such as lending, deposits, payments, fraud mitigation, brand integrity, CRM, and new product launches. Cognizant uses its extensive ecosystem of vendors to build a customized roadmap and offering for clients who are transforming their core platform.
Cognizant wants to increase its presence in the mid-market financial services segments. It has been working with one of its platform partners to build a tooling and automation suite to standardize clients' modernization journeys. Cognizant intends to use this suite of services as a pre-packaged, ready-to-deploy solution for its mid-market financial services clients, mitigating implementation risks and accelerating time to market.