Cognizant recently announced that it has been selected by ABN AMRO Clearing (AACB) as its strategic partner.
AACB is a leading global clearing firm, and Cognizant's role is to cloud-enable its global IT infrastructure and lay the foundation for digital transformation.
According to Cognizant, this will enable AACB to increase operational resilience and application availability, enhance speed and agility in managing market volatility, and lower capital investment and operating costs.
Cognizant's role will be to transform the IT operating model across AACB business services over the multi-year agreement, which includes the core trading and reporting systems, in addition to modernising the existing technology infrastructure across Asia Pacific, Europe and the Americas.
“Since global clearing is an always on, high volume, low latency business, we needed a partner with proven expertise to operate, transform and innovate our highly critical and complex IT infrastructure on a global scale,” says Eelko van Leeuwen, chief information officer at ABN AMRO Clearing.
“With Cognizant's strong experience in capital markets, coupled with deep expertise in transforming existing infrastructure and successfully enabling and managing cloud environments, we are confident we have chosen the right partner.
Cognizant will also be tasked with providing hybrid cloud, security network and end-user services. As a result of this transformation, Cognizant asserts that AACB will be able to standardise and automate its processes globally to deliver an improved experience for its business users.
Cognizant vice president and regional head at Benelux, Manoj Mehta says they are pleased to have been chosen as a strategic transformation partner by AACB on their enterprise-wide, business critical initiative.
“Leveraging our global cloud and IT infrastructure expertise at scale, we will enable AACB to drive operational efficiencies and enhance the reliability of its business services. Cognizant has a wealth of knowledge around complex regulatory and IT requirements that must be addressed by a leading financial institution such as AACB,” says Mehta.
“We look forward to working with AACB on leveraging the cloud and evolving its IT infrastructure in this highly-regulated sector.