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Cognizant Helps KeyBank Reimagine Banking Through New Digital Banking Platform

October 27, 2016

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Cognizant (NASDAQ: CTSH) today announced that it has enabled Ohio-based KeyBank, one of the largest regional financial institutions in the U.S., to reimagine online and mobile banking by providing a more intuitive, personalized and simpler customer experience on a new digital platform.

KeyBank, the principal subsidiary of KeyCorp (NYSE: KEY), is the 13th largest bank in the U.S, with operations in 32 markets, approximately 3 million customers and more than 400,000 daily digital banking transactions.

Using the Oracle Banking Platform, Cognizant redesigned and transformed KeyBank's core systems, applications, business processes and customer interfaces to simplify transactions and enable easy access to personalized financial wellness tools and resources. The modern, secure and scalable next-gen IT solution also enables KeyBank to better use data for customer insight, to improve services and easily introduce innovative new features and functions that provide an overall improved digital experience.

"We build enduring relationships with our customers by improving their financial wellness through ease, value and expertise in every interaction," said Amy G. Brady, Chief Information Officer at KeyCorp. "Cognizant worked with our team to navigate the shift by redesigning and reengineering our platforms and processes to make the experience of banking with us from anywhere simple, modern and more secure."

"We are on a mission to deliver a secure, stable and differentiating digital experience for our clients on multiple devices, anywhere and anytime. This is more than a makeover. We revamped, re-designed and re-engineered underlying digital channel architecture, infrastructure and processes. The new digital experience makes it easy for our clients to carry out banking tasks on the go while making confident financial decisions." said Vipin Gupta, Executive Vice President and Chief Information Officer of Key Community Bank at KeyCorp. "Cognizant's deep expertise in both retail banking and with platforms enabled us to take a comprehensive approach to our business transformation to deliver a superior, differentiated customer experience."

"In order to remain competitive in a changing business landscape, regional banks are adapting and scaling their infrastructures to provide the digital banking experience and capabilities customers are demanding," said Prasad Chintamaneni, President, Global Industries and Consulting at Cognizant.  "Cognizant placed human relationship management at the center of KeyBank's online and mobile banking processes.  By completely reimagining their technology and processes around this we were able to help ensure that their customers have an improved personalized online experience while spending less time on daily banking chores."

This engagement builds on Cognizant's more than decade-long relationship with KeyBank with innovative joint initiatives in a number of areas including managed application services, testing, payments and mobile solutions, with additional projects underway in several areas, including branch modernization.