Retail Banking

Consumer Lending

Wholesale Banking

Cards & Payments

Risk Management

BANKING & FINANCIAL SERVICES

TM

C A S E S T U D Y

Retail Banking
Online Banking Solution for
Leading European Bank

Investment Management
Investment Banking & Brokerage

Custody & Clearing Services

Corporate Services
Online Banking Solution for Leading European Bank
Services provided:
Application Development
The client broke new ground by
introducing online banking in
Europe. However, competitors
started to eat into the market
share by providing advanced
online banking features and
functionalities to customers.
A phased approach for the
introduction of Online Banking
was decided upon, with each
release dealing with a different
functionality: Electronic Bill
Presentment and Payment,
Safekeeping and Portfolio
Management, Payments and File
Transfer, Trading and Stock
Exchange.
TM
The client, a pioneer in introducing online banking to the European market,
found the existing legacy-based application inadequate when it came to coping
with rising customer expectations. Cognizant helped restructure and revamp
the existing application by introducing a multi-channel platform, which could
cater to several channels, including the Internet. The revamped application
provided numerous other business functionalities to the customers, including
the facility to pay bills online.
The Client:
The client is a leading global financial services company with three business units: Private Banking,
Corporate and Retail Banking, Insurance and Investment Banking. Private Banking offers advice as
well as wealth management products and services to high net-worth clients in Europe and other
markets worldwide. Corporate and Retail Banking offers banking products and services to corporate
and retail clients through various channels. Investment Banking performs the function of a financial
intermediary for global, institutional, corporate, government and individual clients.
Key Points
Business Situation:
The client is a pioneer in offering online banking to its customers. However, as competitors started
catching up, the client wanted to completely transform the way in which it provided these services. The
client wanted to leverage its strong customer base to create an additional revenue stream, while
offering customers extended services. With the availability of multiple channels for interaction with
customers, it was necessary to have a common platform for seamless flow of information. All this was
becoming increasingly difficult, as the client’s existing system was based on legacy technology and
architecture.
Approach
Cognizant was introduced to restructure and revamp the existing application architecture and develop
applications on a Multi-Channel infrastructure, which would cater to several channels, including the
Internet. A phased approach was decided upon and the Online Banking service was to be introduced in
a set of multiple releases.
With ready access to a huge customer base, the client was in an ideal situation to introduce the
Electronic Bill Presentment and Payment Services – the first release taken up by Cognizant.
Subsequent releases included Safekeeping, Portfolio Management, Payments, File Transfer and
Security Trading functionalities.
As this was a huge business transformation exercise, functional experts (business analysts) from
Cognizant worked with the client’s business team early in the engagement, to elicit and define
requirements.
Cognizant undertook an extensive analysis to understand the client’s functional, non-functional, and
technical requirements. It also mapped the project implementation and management processes
followed by the client to its CMMI Level 5 processes, to develop a client-specific customized process
framework.
On the technology front, architecture teams decided to use the industry standard advanced J2EE
Framework, which is a component-based, service-oriented, layered architecture approach suiting
middleware-based applications development. In all the architecture and design-related decisions, the
primary focus was to add maximum value by using a mix of best-of-breed solutions, while ensuring
seamless integration with existing client systems.
 Online Banking Solution for Leading European Bank

Technology:
• Solaris, Windows (Development)
• Java, JSP, Servlet, EJB, XML
• Weblogic 6.1
• Eclipse version 1.5.0, PMD and Checkstyle for adherence to coding conventions

Results:
• Creation of an additional revenue stream: The Electronic Bill Presentment and Payment The client introduced a much
(EBPP) functionality was introduced, which provided the bank’s customers with new services advanced and improved
and helped the client derive significant revenues from the same. version of online banking.
• Service-oriented architecturE: The client could expose individual business processes across
multiple channels, as per business demands, to their customers.
Subsequent releases added
• File transfer: With the removal of the system of direct delivery of files to the clearing house, file new features and
transfer to banks assumed even more importance. Online Banking further facilitated corporate functionalities to make it
customers by enabling them to deal with thousands of payments together and route them online truly state-of-the-art. This
to the bank. helped the client regain lost
• Time to market: There was a significant reduction in the time required to extend new services
and functionalities to customers.
market-share, improve
• Payments: An improved version of the Payments functionality, the backbone of any European customer loyalty and derive
financial institution, made online payments faster and more convenient for the customers. benefits from the new revenue
• Portfolio and wealth management: Customers could have a cross-sectional view (based on stream.
geography, currency and maturity) of their assets.

Cognizant Banking & Financial Services Practice:

Banking & Financial Services (BFS) is one of the key industry domains serviced by Cognizant. The vertical has
experienced associates in the domain, offering cross-platform software solutions to different segments in this
industry. In order to specifically address the needs of the BFS industry, Cognizant’s BFS Practice leverages our
comprehensive understanding of the business and technology drivers, helping deliver quick and innovative
solutions to an industry that thrives on speed, efficiency and bottom-line results.

Cognizant’s focus is on constantly updating its domain knowledge and expertise. This favorably impacts our ability
to provide quality solutions in tighter time frames, in addition to technical delivery superiority. Cognizant monitors
the trends in the BFS industry closely - initiatives and developments such as Basel II, Reference Data, Check 21,
MiFID, Prime Brokerage, Trading Systems, and orients itself to emerging domains quickly.

Cognizant is uniquely positioned to provide an “inside-view” of the emerging needs of the industry. A dedicated
team of Business Analysts with cross-domain industry experience is involved in monitoring the industry and
evolving solution offerings to give clients a sustainable competitive advantage through cost-savings and
increased operational-efficiency.

Cognizant works on a diverse portfolio of projects in areas of BFS covering Retail Banking, Consumer Lending,
Cards & Payments, Wholesale Banking, Risk Management, Investment Management, Investment Banking &
Brokerage, Custody & Clearing Services, and Corporate Services.

Cognizant and the Cognizant logo are registered trademarks of Cognizant Technology Solutions. All other brand or product names are trademarks or TM
registered marks of their respective owners.Copyright © 2005 Cognizant Technology Solutions. All rights reserved.
 TM

Cognizant Technology Solutions

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Web Site: www.cognizant.com