Beyond Bank and Cognizant join forces to lead the future of customer-owned banking

Core Insights - Cognizant collaborates with Beyond Bank Australia to enhance digital banking experience and operational resilience through innovative technology solutions [2][7] - The partnership aims to modernize IT infrastructure, automate processes, and improve customer experience [3][4] Company Overview - Beyond Bank Australia is one of the largest customer-owned banks in Australia, with a commitment to social and environmental impact as a certified B Corp [9] - The bank operates branches and offices across New South Wales, South Australia, Western Australia, ACT, and Victoria, partnering with over 6000 community organizations [9] Collaboration Details - Cognizant's engagement will uplift Beyond Bank's End User Compute (EUC) teams, automate patching processes, and enable self-service capabilities [3] - The collaboration includes establishing a Security Operations Centre (SOC) and strengthening vendor assurance frameworks to align with Australian Prudential Regulation Authority (APRA) standards [3] Digital Transformation Focus - Beyond Bank's digital transformation includes cloud and API architecture modernization and an enterprise-wide Windows 11 migration [4] - The integration aims to create flexible, scalable, and secure technology ecosystems to accelerate the introduction of new products [4] Data Management Strategy - Cognizant will assist in developing a comprehensive data and information management strategy leveraging AI to optimize structured and unstructured data [5] - This strategy aims to provide organization-wide insights and enable more tailored services for customers [5] Target Demographic - The collaboration will focus on introducing new products and services aimed at better serving a younger demographic while enhancing the overall service experience for all customers [6] Industry Context - The customer-owned banking sector faces increased regulatory burdens, economic pressures, and the need for digital transformation [7] - The partnership highlights the importance of strategic collaborations in supporting innovation and maintaining service standards in the evolving financial sector [7]