Beyond Bank Australia leverages Cognizant's
expertise to modernize IT infrastructure and enhance operational
resilience.
SYDNEY and TEANECK,
N.J., Dec. 11, 2024 /PRNewswire/
-- Cognizant (NASDAQ: CTSH) has announced a
collaboration with Beyond Bank Australia, one of
Australia's largest customer-owned
banks, to help revolutionize the digital banking experience. The
collaboration aims to enhance operational resilience, streamline
processes and improve customer experience through the
implementation of innovative technology solutions.
Cognizant's engagement is expected to uplift Beyond Bank's End
User Compute (EUC) teams, automate patching processes, enable
self-service and extend the value of existing licenses. These
initiatives aim to create an even more resilient and secure
environment for Beyond Bank's operations. Additionally, this
collaboration seeks to modernize the bank's IT infrastructure,
establish a Security Operations Centre (SOC) and strengthen vendor
assurance frameworks to help align with the Australian Prudential
Regulation Authority (APRA) standards.
Beyond Bank's digital transformation focuses on several key
workstreams, including cloud and API architecture modernization and
an enterprise-wide Windows 11 migration. These integrations will be
designed to be flexible, scalable and secure technology ecosystems
that enable the introduction of new products with enhanced speed to
market, further preparing Beyond Bank for future growth.
Cognizant will also help develop a comprehensive data and
information management strategy for Beyond Bank. Leveraging AI,
this strategy aims to optimize structured data from core banking
systems and organize unstructured data from knowledge management
sources for organization-wide insights, enabling more tailored
services for its customers.
Leveraging Cognizant's deep banking expertise, Beyond Bank will
introduce new products and services designed to better serve a
younger demographic, while simultaneously enhancing the overall
service experience for all customers.
"Our partnership with Cognizant is pivotal in advancing our
digital transformation," said Stevie-Ann
Dovico, Chief Information Officer, Beyond Bank Australia.
"Their expertise allows us to modernize our IT infrastructure and
enhance security, aligning with our values as a customer-owned
bank. Cognizant's comprehensive approach makes them the ideal
partner to help us better serve our customers."
"Beyond Bank is a lighthouse client for us in the customer-owned
banking sector," said Rob Marchiori,
Australia Country Manager at Cognizant. "By enhancing their digital
capabilities, we will help them provide better services to their
customers and support paving the way for a resilient banking model
that addresses current and future market demands."
The customer-owned banking sector is navigating increased
regulatory burdens, economic pressures, and the need for digital
transformation. With increased cost-to-income ratios and net
interest margins, banks need to modernize operations and enhance
customer engagement through innovative technology. The
collaboration between Beyond Bank and Cognizant highlights the
importance of strategic partnerships in supporting innovation and
maintaining service standards in the evolving financial sector.
About Cognizant
Cognizant (Nasdaq: CTSH) engineers
modern businesses. We help our clients modernize technology,
reimagine processes, and transform experiences to stay ahead in our
fast-changing world. Together, we're improving everyday life. See
how at www.cognizant.com or @cognizant.
About Beyond Bank Australia
Beyond Bank is one of
Australia's largest customer-owned
banks with branches and offices in New
South Wales, South
Australia, Western
Australia, ACT and Victoria. We partner with more than 6000
community organisations around the nation to create and return
value for our customers and communities. Beyond Bank is a B Corp, a
business that is certified as meeting high standards of social and
environmental impact, ensuring their practices benefit people,
communities and our planet. To learn more, visit
beyondbank.com.au
For more information,
contact:
globalcommunications@cognizant.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/beyond-bank-and-cognizant-join-forces-to-lead-the-future-of-customer-owned-banking-302328856.html
SOURCE Cognizant Technology Solutions