KBC Group Renews Collaboration with Cognizant for IT Services Boost

In a strategic move to enhance its IT services and customer experience, KBC Group has renewed its collaboration with Cognizant, a global leader in next-generation technology and consulting services. This five-year agreement builds on the existing partnership between the two companies, further cementing their commitment to driving operational efficiency, business agility, and superior customer engagement.



Under the renewed agreement, Cognizant will provide application development, application maintenance, and testing services to KBC Group. This comprehensive suite of services will enable KBC to optimize its service delivery, adapt to changing market conditions, and better serve its customers. Additionally, Cognizant will acquire ValueSource NV, a subsidiary of KBC, bringing its deep experience in the financial services and insurance domain to the table. This acquisition will provide business continuity for KBC and offer employment opportunities to approximately 170 ValueSource employees who will transfer to Cognizant.

Cognizant's consulting-led approach, which combines its global talent base, deep local business insight, and global best practices, will be instrumental in helping KBC Group achieve its business objectives. By leveraging Cognizant's expertise, KBC will gain the flexibility required to deal with both current and future ICT maintenance and development needs. This strategic partnership will enable KBC to unlock incremental efficiencies from its critical business systems, which can then be reinvested into strategic initiatives and drive future growth.

Rudi Peeters, Senior General Manager and Chief Information Officer of the KBC group, expressed his confidence in the renewed collaboration: "Leveraging Cognizant's expertise, experience, and consulting-led approach will give us the flexibility required to deal with both current and future ICT maintenance and development needs. With Cognizant's robust understanding of our business objectives, the financial services industry, and emerging social and mobile technology architectures, we are confident that all parties concerned will benefit from this agreement."

Santosh Thomas, Senior Vice-President and Head of Continental Europe and Asia-Pacific for Cognizant, echoed this sentiment: "Besides ensuring continuing productivity and operational improvements using our best-in-class application development and maintenance frameworks, Cognizant will help KBC unlock incremental efficiencies from its critical business systems and leverage those savings to fund strategic initiatives and drive future growth."

This renewed collaboration between KBC Group and Cognizant is a testament to the power of strategic partnerships in driving business growth and innovation. As the financial services industry continues to evolve, companies like KBC Group are recognizing the value of leveraging the expertise and global best practices of consulting firms like Cognizant to stay competitive and adapt to changing market conditions. By investing in this partnership, KBC Group is positioning itself to capitalize on emerging opportunities and enhance its customer experience in the years to come.

In conclusion, the renewed collaboration between KBC Group and Cognizant is a strategic move that aligns with both companies' investment philosophies and presents an opportunity for Cognizant to expand its services within the European financial sector. By leveraging Cognizant's consulting-led approach, KBC Group is poised to achieve greater levels of operational efficiency, business agility, and superior customer engagement, ultimately driving its long-term success.