AMSTERDAM and TEANECK, N.J., April 10, 2017 /PRNewswire/ -- 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."
About ABN AMRO Clearing
ABN AMRO Clearing is one of the world's leading providers of clearing and financing services for listed derivatives and cash securities, OTC products, warrants, commodities and FX. With 11 offices globally employing more than 800 staff, ABN AMRO Clearing services clients on 160+ exchanges, MTFs, dark pools and FX liquidity centres and consistently ranks as a top 3 clearer in most time zones. We consistently post over 20% market shares of transactions cleared on most relevant derivatives exchanges globally. ABN AMRO Clearing offers an integrated approach to global transaction processing, financial logistics and risk management and processes over 16 million trades per day. ABN AMRO Clearing in December 2015 received the FOW award as the 'Proprietary Traders Clearing Firm of the Year' for the 3rd year in a row and the CTA Intelligence Award for FCM – Best Client Service (US, January 2015 and 2016) and Best FCM – Overall (Europe, November 2015). In April 2016 we received the HFM-Week Service Award for Best Prime Broker – Client service. For more information: www.abnamroclearing.com
Cognizant (NASDAQ-100: CTSH) is one of the world's leading professional services companies, transforming clients' business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 230 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.