ComputerWeekly: Cognizant’s Head of Financial Services Practice for the UK and Ireland Talks to Karl Flinders About IT Outsourcing by Banks

Tony Virdi, Head of Cognizant's Financial Services Practice for the UK and Ireland

“Two particular areas where we are seeing growth are in compliance and innovation,” says Tony Virdi. “Over the next three to five years, financial institutions will be faced with some major compliance issues such as Dodd Frank and FATCA, and ensuring they address the capital adequacy, stress testing and market liquidity risk requirements of Basel 3. We are currently involved in a number of projects in this area, which we expect to increase steadily as international regulations continue to come into play.”

Virdi adds, “We are also helping many organizations tackle the rapidly evolving retail banking market and all the accompanying process and infrastructure challenges brought by these changes. Consumer demand for digital services means banks are battling to bring to market the most innovative offerings; mobile banking and mobile payments are two areas where we're being called upon to both consult and to deliver solutions.”

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