CASE STUDY
REIMAGINING ONLINE AND
MOBILE BANKING PLATFORM BY
RE-ENGINEERING CORE BUSINESS
PROCESSES TOACCELERATE
FUTURE DIGITAL GROWTH
Creating a simple, modern and secure banking platform to increase online and mobile banking customers
A leading bank in the US wanted to provide a unified and
consistent omni-channel experience to their mobile and
online banking customers. The client chose Cognizant to
revamp, reengineer and completely re-imagine their online
and mobile banking platform. The new digital banking
platform not only made their customer experience smarter,
easier and more personalized but also improved their
time-to-market and reduced maintenance cost.
Cognizant, Revamped the SOA Architecture and streamlined
channel integration that aimed at providing a seamless
transaction experience that is quick, easy and secure.
Re-engineered the entire middleware suite on top of Oracle
Banking Platform (OBP) to restructure the entire
architecture and transform their community banking
channels; It provided a scalable architecture that integrates
with other systems to aggregate data and securely upload it
to mobile and online channels.
AT A GLANCE
The bank’s vision was to build a robust digital
banking platform to suit the needs of their
online and mobile banking customers. Realizing
that maintaining competitive advantage in an
environment where customers expect around-
the-clock access to account information and
banking services, the bank engaged its long
term partner, Cognizant to help revamp,
reengineer and reimagine their online and
mobile banking platform. Leveraging its
domain, functional and technical capabilities,
Cognizant collaborated with the bank, Oracle
and a variety of other vendors to undertake
OBP implementation against aggressive
timelines and delivered impressive results.
Business Outcomes
• 2.2 million mobile and online customers
on-boarded within 16 months of transformation
Banking & Financial Services and Digital Systems & Technology
cognizant.com/banking-financial-services
Cognizant leveraged Automation, DevOps and Service Virtualization levers to meet aggressive implementation deadline and efforts
Having supported the bank’s IT systems for more than a
decade, this project enabled Cognizant to showcase its
ability to develop a strategy and manage implementation of
an end-to-end multivendor integration. Cognizant’s
expertize in supporting clients systems and our integration
capabilities along with strong program and release
management capabilities helped the bank in successfully
implementing the solution. Working closely with the client,
Oracle, and several other vendors, Cognizant automated
80% of the testing processes using service virtualization to
speed development and testing cycles. In addition, Cognizant
developed the business logic, supported the integration of
data, services and systems with real-time synchronization,
and implemented continuous integration and deployment
capabilities which significantly improved release
management.
In parallel to the transition, the client was also engaged in
the acquisition of another bank, adding to the complexity of
the project. This required Cognizant to create an interim
environment that could support both the entities for smooth
integration. Establishing a stable, consistent platform was
critical for the combined entity, and required accelerating
the OBP implementation deadline by 8 months, which was
an extremely aggressive goal. Cognizant helped, on-board
2.2 million mobile and online customers, of both acquired
and acquiring banks, within 16 months, which otherwise
would have taken more than 24 months. We also enabled
the bank to migrate data from 5 million customer records to
the new platform. While this aggressive timelines were met,
Cognizant team developed multiple tools/innovation worth
$750k as additional value.
Currently, Cognizant is working with the bank to digitize and
modernize other service functions such as lending, mortgage
and default management in addition to implementing OBP
for the bank’s commercial customers. Having a single, digital
Community Banking platform gives the bank a 360-degree
view of customers, improve time to market and provide the
ability to extend the architecture to other channels across
the enterprise.
• Functional and process improvement in
mobile apps including micro-deposit
credit and debit on same day, touch ID
authentication
• Augmented digital offerings to add ease,
value and expertise to customer
experience
• 25% onboarding through digital driving
digital engagement to 65%
• 20% reduction in cost of ownership
• 80% reduction in functional testing by
automation
• Migrated 5 million customer data to the
new platform
ABOUT COGNIZANT
Cognizant (Nasdaq-100: CTSH) 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 195 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.
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