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KBC finds service delivery answer in Cognizant

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Abhigna
New Update

CHENNAI, INDIA: Cognizant shares it has been selected by the KBC group, an integrated bank insurance group and a financial institution in Belgium, as a strategic partner to optimize service delivery and drive superior customer engagement.

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Under an initial five-year agreement, Cognizant will deliver application development, application maintenance, and testing services to KBC. Cognizant says it will combine its global talent base, deep local business insight, and global best practices to help KBC achieve greater levels of operational efficiency, business agility, and governance, while realizing its business objectives and enhancing competitiveness.

As part of the deal, Cognizant will acquire ValueSource NV, a subsidiary of KBC. Its deep experience in the financial services and insurance domain will provide business continuity for KBC and about 170 ValueSource employees who will transfer to Cognizant.

"Leveraging Cognizant's expertise, experience and consulting-led approach will give us the flexibility required to deal with both current and future ICT maintenance and development needs. With Cognizant's robust understanding of our business objectives, the financial services industry, and emerging social and mobile technology architectures, we are confident that all parties concerned will benefit from this agreement," said Rudi Peeters, Senior General Manager and Chief Information Officer of the KBC group.

Santosh Thomas, Senior Vice-President and Head of Continental Europe and Asia-Pacific for Cognizant, said, "Besides ensuring continuing productivity and operational improvements using our best-in-class application development and maintenance frameworks, Cognizant will help KBC unlock incremental efficiencies from its critical business systems and leverage those savings to fund strategic initiatives and drive future growth."