AMSTERDAM and TEANECK, N.J., Jan. 16, 2013 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced that it has been selected by Rabobank to deliver a broad portfolio of application services to drive operational efficiencies and improve productivity. The deal expands Cognizant's relationship with Rabobank Group, a full-range financial services provider rated among the world's 30 largest financial institutions.
Under the five-year agreement, Cognizant will provide application development, maintenance, and testing services to Rabobank, leveraging its consulting capabilities and proven financial industry expertise. Cognizant will combine its global talent base, a strong team of Dutch professionals with deep local business insight, and its global best practices to help Rabobank reduce the total cost of ownership, and ensure high quality and consistency across its applications portfolio. Cognizant will also help Rabobank optimize its strategic IT investments to achieve greater levels of efficiency and realize its business objectives.
"Rabobank places great importance on continuously surpassing the expectations of our customers and adding discernible value. In addition, the goal is to ensure business continuity, drive cost efficiency, and increase business productivity," said Rene Steenvoorden, Chief Information Officer at Rabobank. "Cognizant's expertise will further strengthen our ability to meet this goal and respond to changing technology and business needs, both in the short and long term."
"We are pleased to have been selected by Rabobank as a strategic partner," said
Santosh Thomas, Senior Vice President and Head of Continental Europe and Growth Markets for Cognizant. "Cognizant is committed to optimizing Rabobank's applications portfolio for enhanced agility, service-level predictability, and operational improvements. We look forward to helping Rabobank define new standards in innovation and customer satisfaction, while mining efficiencies from its systems and leveraging those savings to fund strategic initiatives for future growth."
About the Rabobank GroupRabobank Group is a full-range financial services provider that operates on cooperative principles. Its origins lie in the local loan cooperatives that were founded in the Netherlands nearly 110 years ago by enterprising people who had virtually no access to the capital market. Rabobank Group is comprised of independent local Rabobanks plus Rabobank Nederland, their umbrella organisation, and a number of specialist subsidiaries.
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