Cognizant Technologies
(
CTSH
) recently announced an alliance with Monitise Group wherein
Cognizant's extensive financial services and mobility expertise
will be combined with Monitise's leading mobile money platform.
This alliance will enable financial institutions to adopt the
mobile channel of interaction, and develop effective and innovative
mobile banking, payments, and commerce solutions.
In addition, financial institutions will facilitate reduction of
ownership costs as well as drive newer revenue streams through
enhanced mobile adoption by using an interoperable platform instead
of solutions from different products and mobile operating
systems.
Monitise Group will extend its Monitise Enterprise Platform to
the world's leading banks and payment companies and assist them to
improve and expand their customer relationships.
Mobile technology is a rapidly evolving technology, which has
the potential to drastically change consumer-facing industries.
Cognizant aims to help clients revamp their businesses using
mobile technologies and the company's partnership with Monitise
will provide next-generation mobile money solutions to financial
institutions.
Earlier, Cognizant teamed up with Royal Philips Electronics
(PHG), to provide a wide range of technology-enabled business
transformation and growth programs.
Being a strategic partner, Cognizant will provide a wide range
of services to Philips, which include consulting and application
services on a global basis.
These services, in turn, will enable Philips to consolidate,
rationalize, and improve its IT landscape for better operational
efficiency, business agility, and governance leading to a superior
customer service
.
As per the terms of the multi-year engagement, Cognizant will
allow Philips to shift the IT organization to a platform and
output-based managed services model across multiple business lines
and corporate functions. Philips will be able to improve business
value of IT, get insight into its demand chain and hence, respond
more effectively to the needs of its markets, businesses and
functions.
A key strategy of Cognizant is to align its business with
vertical industries, such as financial services, health care &
life sciences, retail, manufacturing and logistics. The company has
gained deep industry expertise and knowledge of the domain by
partnering with top firms. This strategy has enabled the company to
deliver more value to clients and capitalize on new
opportunities.
We continue to maintain a Neutral recommendation on Cognizant in
the long run. Nevertheless, the company has a Zacks #2 Rank, which
translates into a short-term rating of Buy.
COGNIZANT TECH (CTSH): Free Stock Analysis
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