Cognizant (NASDAQ: CTSH) today announced that it has been selected by ABN Amro Clearing (AACB), a leading global clearing firm, as its strategic partner to cloud-enable its global IT infrastructure and lay the foundation for digital transformation.
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.
As part of the multi-year agreement, Cognizant will transform the IT operating model across AACB business services, including the core trading and reporting systems, as well as modernize the existing technology infrastructure across Europe, the Americas and Asia-Pacific regions. In addition, Cognizant will provide hybrid cloud, security network management and end-user services using Cognizant's Constantly Ready Infrastructure (CRI) framework, and, as a result of this transformation, AACB will be able to standardize and automate its processes globally to deliver improved experience to its business users.
"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," said Eelko van Leeuwen, Chief Information Officer 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."
"We are pleased to have been chosen as a strategic transformation partner by AACB on their enterprise-wide, business-critical initiative," said Manoj Mehta, Vice President and Regional Head, Benelux, at Cognizant. "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. We look forward to working with AACB on leveraging the cloud and evolving its IT infrastructure in this highly-regulated sector."