With an increasingly digital-first consumer base, financial services & insurance companies need to go paper-free. Cloud-powered solutions like modernization and end-to-end data transformations are the digital answer to these challenges. Discover stories of agility, resilience and scalability achieved while leveraging Infosys Cobalt's capabilities.
Vanguard is an investment management company, helping almost five million participants save for retirement and is known for providing best-in-class omnichannel digital experiences for their customers. Their legacy mainframe systems were unable to fully capitalize on their agile development, leading to patchwork systems that offered little flexibility and hindered their ability to deliver advanced customer experiences.
In response, Infosys utilized Infosys Cobalt to develop Vanguard's cloud-native platform, bolstered by open APIs, enabling rapid, data-driven feature deployment. Vanguard also explored AI's potential through Infosys' Living Labs to enhance retirement experiences. With cloud technology as the foundation, Vanguard envisaged a hyper-personalized future encompassing the web, AR, VR, and more.
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Citizens Bank has a legacy as one of the longest-standing banks in the United States. To remain relevant to their customers and introduce new offerings, the bank sought to establish a strong foundation that could leverage next-gen technologies, reduce costs, create new revenue streams, and deliver innovative offerings to customers.
Keeping the focus on core resilience, they leveraged Infosys Cobalt to build a cloud-first architecture, agile operating models, and an effective IT landscape. With their foundation in the cloud, Citizens Bank continues to deliver seamless customer experiences across their digital touchpoints.
Western Union is a global leader in cross-border money transfers and payments. They wanted to streamline retail and digital cross-border money transfer operations and scale their business. However, their legacy settlement systems posed challenges in keeping up with the demands of the market.
With Infosys’ cloud expertise, Western Union built a new settlement platform that modernized their money transfer operations. The new Oracle Cloud-based platform streamlined their cross-border processes, enabled modular growth, and improved their partner experience. Through better global operations and automated processes, Western Union enhanced their customer experience and created a tool for long-term growth.
Norway’s largest bank, DNB ASA, found it expensive and time-consuming to scale their existing Enterprise Data Warehouse (EDW) platform to meet their data requirements. Considering the heavy investment required for on-premise systems, exploring newer data opportunities became imperative. DNB ASA wanted to set up a big data platform to ingest, store, and process data in an enterprise-wide data lake to meet business needs and build a foundation for advanced analytics.
To implement this, they partnered with Infosys, leveraging Infosys Cobalt, to create a data lake on a serverless architecture using AWS S3, Glue, and Lambda. The fully automated deployment resulted in a quicker time-to-market and a highly scalable environment. It offered easy access to provisioning environments, a dedicated platform for advanced analytics, and a fail-fast testing approach.
A prominent player in Japan’s SME segment, NN Life Insurance faced challenges with their existing infrastructure, with complex processes for customers leading to long service provisioning times. To improve reliability and speed in delivering solutions, they recognized the need for cloud transformation and legacy application remediation.
To address these challenges, NN Life Insurance leveraged the Infosys Modernization Platform, part of Infosys Cobalt. Adopting an agile model, they successfully executed an end-to-end transformation to the Azure Cloud. This solution not only accelerated the move to the cloud but also enhanced the quality and speed of cloud migration and legacy remediation, empowering NN Life Insurance to offer better solutions and services to their customers.
A leading financial institution in Australia with over 900 global locations, National Australia Bank (NAB) was experiencing data quality and accuracy issues in their regulatory reporting program, which entailed extracting data from over 25 sources and transferring it to cloud databases.
To address this, they partnered with Infosys to develop an automation framework. Leveraging the Infosys Cloud Testing practice, part of Infosys Cobalt, they developed a single-click automation tool named 'Automated Data Comparator' (Auto DC) for the data warehouse testing program. This tool provided NAB with a scalable, reliable, and automated solution for validating documents.
Old National Bank (ONB), the largest financial institution in Indiana, boasts a rich heritage spanning more than 150 years. As they took their first steps into the digital world, ONB banked on Infosys Cobalt to accelerate their cloud-first journey.
Infosys delivered a suite of digital solutions that drove innovation and facilitated ONB’s digital transformation. With new capabilities, ONB not only enhanced user experiences but also realized heightened operational efficiency, resulting in significant cost savings. These advancements have laid the groundwork for smarter, more agile operations, solidifying ONB's commitment to modernization and excellence in banking.
Established in 1858, Bendigo Bank's history centers around their commitment to customer and community prosperity. The Bendigo and Adelaide Bank Group, formed from over 80 mergers and acquisitions, posed unique challenges with legacy systems tied to each transaction.
In 2021, they consolidated document management into a single cloud platform via Infosys Cobalt in just 18 months. Microsoft SharePoint Online served as the central repository, streamlining customer experiences and content library access. This boosted efficiency, security, and regulatory compliance while retiring legacy systems, reducing document duplication, and enhancing operations. The project served as the foundation for a more extensive lending transformation across the bank.
Axis Bank, India's third-largest private sector bank, recognized the need for a cloud-first architecture to meet customer expectations. They aimed to enhance technology quality, resilience, and stability for faster product delivery and better customer service.
Partnering with Infosys, Axis Bank embarked on their transformative journey. Leveraging Infosys Cobalt, they modernized their banking services, offering modern customer interfaces and next-gen products. As a result, Axis Bank saw 91% of their individual customers' transactions taking place on digital channels. The platform also enabled the issuing of credit cards through physical and digital modes. With 76% of their customers being digitally active, Axis Bank got closer to their long-term goal of expanding overall digital outreach for customers.
India's Federal Bank, a prominent private sector bank, grappled with delivering comprehensive omnichannel experiences for their customers. In response, they collaborated with Infosys to revamp their customer experience, harnessing the power of Oracle's CX solution suite.
Infosys played a pivotal role in Federal Bank's CX transformation journey. Leveraging a portfolio of predefined user journeys, process packs, a KPI library, and distinct solution elements, Infosys significantly expedited the customer's time to realize value. Moreover, Infosys facilitated the integration of Oracle's CX solution into the bank's digital strategy while harnessing domain knowledge to maximize value.
Learn how Infosys transformed Federal Bank's CX landscape.
