United Kingdom’s Financial Services Compensation Scheme Selects Cognizant as Technology Partner to Help Drive Digital Transformation

United Kingdom’s Financial Services Compensation Scheme (FSCS) will be using Cognizant as its technology partner to enhance customer service.

Cognizant (NASDAQ: CTSH) today announced that the United Kingdom’s Financial Services Compensation Scheme (FSCS) has selected Cognizant as its technology partner to help FSCS enhance customer experience using digital technologies.

As part of a three-year agreement, Cognizant will help simplify, modernise and further secure a broad range of FSCS’ systems and applications to help meet the digital needs of customers. This will help FSCS to handle claims more efficiently and accurately and employ new channels to enhance its customer service.

“We are pleased to partner with FSCS to develop and modernise its systems and applications, driving higher operational efficiencies, while laying the foundation for continuous digital improvements,” said Vivek Daga, Vice President and Head of the UK and Ireland for Cognizant. “By combining deep technology, domain and public sector experience, Cognizant will help FSCS lower its costs, improve customer experience and deliver better business outcomes.”

FSCS protects consumers when UK authorised firms fail. Since 2001, it has come to the aid of more than 4.5m people while paying out more than £26bn in compensation. Financial services firms fund the FSCS though annual levies. It protects investments, insurance, deposits and home finance advice.

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.