Australia’s Bendigo and Adelaide Bank migrates digital banking system to Google Cloud
The bank intends to migrate at least half of its business operations to the cloud by 2024.
Cognizant
Cognizant names former Infosys president Ravi Kumar as new CEO
Kumar succeeds Brian Humphries, who will remain at the firm until 15 March to facilitate a “smooth transition”.
Thought Machine taps Cognizant for new managing director
Mark Vasey joins core banking company from consulting firm.
Three Finnish banks to move to shared core and payments tech from Temenos
Temenos’ regional partner Cognizant will implement and manage the new platform.
Cognizant buys post-trade processor Meritsoft
Acquisition of Irish firm expands its Software-as-a-Service platforms.
Cognizant acquires Finnish IT firm Samlink
Will also build and operate a shared core banking platform for three companies.
Bank Islam plans digital Islamic banking roll-out
Bank Islam Malaysia Berhad is working with consulting firm Cognizant to lay the foundation for its digital banking platform roll-out across its entire network. Encik Khairul Kamarudin, CEO of Bank Islam, says the move will bring “greater accessibility to our customers as well as simplifying and improving their banking experience with us”. According to the […]
Blockchain and Bitcoin round-up: 1 August 2017
The world of blockchain and Bitcoin rumbles on with patents, platforms and positives. Our latest round-up features Bank of America, Blackmoon Financial Group, and research from Cognizant. Bank of America (BofA) has filed three new patents using blockchain. On the US Patent & Trademark Office’s website it now reveals the details. Some of the patents […]
UK’s Financial Conduct Authority selects Cognizant for tech revamp
The UK’s Financial Conduct Authority (FCA) has chosen Cognizant for an overhaul of its core IT applications and quality assurance processes related to the agency’s market surveillance, supervisory analysis, reporting and risk management functions. This three-year agreement builds on the FCA’s ongoing relationship with Cognizant which began in 2011, when it was selected as one […]
Cognizant plans: layoffs, automation, investment in digital and M&A
Cognizant, a global provider of digital, technology, consulting and operations services, is to get rid of up to 4% of its workforce, it is understood. It is also keen on increasing automation, investment in digital and M&A.
Mizuho takes another step towards blockchain adoption
Japanese financial services provider Mizuho has partnered with Cognizant to test cross-border document sharing and custom digital currency applications of blockchain – and the cost implications of using the technology. Mizuho says the project was a success and concluded that a tamper-proof distribution database built using blockchain could support a platform to share information and […]
Top five jargon winners in 2016
For some people in the world of fintech, they find comfort in the language of jargon. Pity these poor souls! Lost, confused and unable to communicate clearly and normally. Here are our top five jargon winners of 2016. You can avoid being on this list next year – just use English! CIBC ends phase one […]
Cognizant to acquire digital agency Mirabeau
Amsterdam-based digital marketing and customer experience agency Mirabeau and its 260 staff will join Cognizant’s digital business once the acquisition is completed.
Cognizant works with KeyBank on Oracle Banking Platform project
Cognizant has assisted KeyBank in implementing Oracle Banking Platform (OBP) from Oracle FSS as part of the bank’s tech revamp. Cognizant says it redesigned KeyBank’s core systems, applications, business processes and customer interfaces to “simplify transactions”. Vipin Gupta, EVP and CIO of Key Community Bank (KeyCorp’s division that includes retail, business and commercial middle market […]
Does the bank branch still matter?
The number of branches operated by major banking groups in the UK has halved over the last 20 years. In fact, Britain’s banks closed more than 600 branches across the UK between April 2015 and April 2016. This is hardly surprising as more and more people move online, often mobile-first, to complete most of their […]
Mizuho and Cognizant join forces for blockchain-backed record-keeping
Mizuho Financial Group and Cognizant have teamed up to develop a blockchain solution for the “secure” record-keeping of documents among Mizuho Financial Group companies around the world. The agreement is the beginning of Mizuho’s programme to use blockchain for building new work processes for transactions and digital interactions. This engagement will initially focus on New […]
Understanding blockchain and the opportunity for financial institutions
Blockchain has the potential to further disrupt banking in the way that we know it today, transform traditional interbank and even peer-to-peer payments, open up opportunities to replace existing mechanisms for the exchange of financial information, and how customer records are stored and processed.
Mergers and acquisitions – don’t forget your back-end
Worldwide, mergers and acquisitions in the banking sector have become increasingly common. According to the Bank of America, European bank mergers in particular are back on the agenda for the first time in many years as financial institutions are beginning to make strategic choices about what areas of their business are core.
Code Halos: the key to improving banks’ Net Promoter Score
A company’s Net Promoter Score has become an important measure of customer satisfaction. It asks them a simple question: how likely they are to recommend that company to a friend. The responses split the audience into three groups: promoters, passives and detractors. By subtracting the percentage of detractors from the promoters, banks obtain their NPS. NPS has been a valued metric in many consumer-facing industries for several years, but its importance and influence in financial services is growing fast.
Forget ‘mobile first’: are we heading for mobile-only banking?
The speed at which the mobile market evolves is staggering. Just as we started to look at mobile first, where banks need to align their services and strategies to cater for mobile before desktop or other traditional channels, the notion of mobile-only is now creeping to the fore.
