Read this article about Cognizant Technology Solutions, one of our finalists, in the category Best Achievement in Operational Excellence to deliver an outstanding Value Creation or Innovation Execution Project, selected by the independent judging panel, for the 2019 Business Transformation & Operational Excellence Industry Awards program. Click here to read articles on other finalists.
KYC e-2-e transformation for Periodic Reviews (CLM)
One of the key transformation projects within the Cognizant transformation journey for KYC reviews process for a leading Investment bank was initiated in Q2 2018 with the purpose of streamlining the end to end Background verification process. Cognizant carries out ~7,000 periodic KYC reviews annually for institutional clients of the bank. As part of these reviews, client names, ultimate beneficial owners, directors and controllers are screened for sanctions, negative news and PEPs. As a part of the additional due diligence process, the counterparty names identified are required to be run on RDC GRID (External Data Management Provider) & Clients Internal Data management application for the purpose of evidence gathering.
Each of the risks identified by the Data Management Application are then scrutinized carefully to mitigate/highlight any risk posed by the Counterparty on the client under review. This being highly complex process was having a direct impact on Process Cycle time and was posing huge risk on Cognizant delivery.
To identify the core problems, we performed the Front to back process review by mapping Customer and Case journey through VSMs which has led to identification of key Problem areas and helped in identifying the desired future state of process.
Background Checks AS-IS Process View & Key Pain Points identified
To-Be Process Re-imagined View
The end state Process is the right mix of achieving future state through Process re-engineering Multiple digital levers.
The Business Transformation & Operational Excellence Awards have been established to showcase globally the most outstanding organizational achievements through the application of Operational Excellence programs. Click here to view the Press Release.
The winners for all categories and for The Platinum Awards will be announced at The Business Transformation & Operational Excellence Summit & Industry Awards on Wednesday March 20th, 2019, from 6.30pm, in the Venetian Ballroom at the Loews Portofino Bay Hotel at Universal Orlando Resort®.
The Business Transformation & Operational Excellence Awards are open to all organizations, both private and public sector, across the globe, which have implemented Operational Excellence programs to deliver outstanding business results.
The 2019 Awards will be held in conjunction with the Business Transformation & Operational Excellence World Summit on March 20, 2019 in the Venetian Ballroom at the Loews Portofino Bay Hotel at Universal Orlando™
BTOES is the industry’s biggest and best, senior-level, cross-industry gathering of Business Transformation & Operational Excellence industry leaders and senior executives.
It also hosts the Business Transformation & Operational Excellence Awards, which showcase globally the most outstanding organizational achievements through the application of Operational Excellence programs.
The summits hosts a number of private forums for C-Level & Global corporate-level leaders as well as business unit heads.
With over 150 speakers, over 100 sessions, 12 Keynotes, 9 Track Themes, 5 parallel tracks, 60+ track sessions, 50 roundtable discussions, 20 Interactive Workshops, 6 Thought Leader Panels, 5 Leaders Boardrooms, 5 co-located events, the Industry Awards Program, Site Visits, 20+ hours of social networking including 2 gala cocktail parties, dinners, numerous group activities, this is the ultimate event to benchmark, network and drive Operational Excellence to the next level.
There is a strong focus on Cultural Transformation, Customer Delight, Sustaining an Operational Excellence program, Need for end-to-end Business Transformation, Keeping up with new technologies/impact of digitalization and Leadership Buy-in & Understanding. We dedicated two tracks to advanced technologies, such as AI, Machine Learning, RPA, Predictive Analytics, Blockchain, Cloud infrastructure etc.
The agenda is designed to encourage active meaningful conversations though all day enhanced networking and interaction opportunities, including
All-day Refreshment & Themed Breaks
1¼ Hour Hot Breakfast Networking Sessions
1½ Hour Hot Plated Networking Lunches with Topic & Industry Sector focussed tables
1½ Hour Roundtable Sessions by Topic & Industry Sector.
Keynote & Themes Panel Sessions
Hosted Welcome Receptions from 5.30pm
Expanded more lavish Awards Program
Newly launched Night Summit for attendees to meet after dinner
For more information or to discuss the summit in more detail please schedule a call below,
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