Axis Bank and Cognizant Collaborate to Strengthen Application Management with AMS 2.0
Cognizant secures a five-year role managing Axis Bank’s automation-led AMS 2.0 across multiple core banking platforms.
Rhea-AI Summary
Cognizant (CTSH) and Axis Bank announced the go-live of Cognizant’s Application Management Services under Axis Bank’s AMS 2.0 initiative for key stakeholders.
AMS 2.0 is a jointly driven, automation-led program aimed at improving delivery governance, operational consistency and cost efficiency in application support. Under a five-year agreement, Cognizant will support systems across multiple Axis Bank business verticals, including branches and operations, cards, corporate banking, treasury, core platforms, payments, finance, retail and wholesale banking, and data platforms.
Positive
- Five-year AMS agreement with Axis Bank to support critical banking platforms
- Engagement spans multiple business verticals, including core platforms, payments and retail banking
Negative
- None.
Key Figures
- Agreement term
- Five years
- Cognizant application management services agreement with Axis Bank
Key Terms
application management services technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Automation-led operations to drive user experience, efficiency and productivity
BENGALURU,
AMS 2.0 is a structured, jointly driven program designed to strengthen delivery governance, improve operational consistency and accelerate the adoption of automation across application support services. Built on automation-led practices, the model aims to enhance service reliability and cost efficiency while enabling productivity, scalability, and standardized processes, with a strong emphasis on governance, compliance and operational discipline.
Spearheaded by Axis Bank, the AMS 2.0 initiative forms a key pillar of the Bank's broader technology transformation journey. The collaboration underscores Axis Bank's strategic focus on building a scalable, resilient, and future-ready IT operating model, one that enables business growth, enhances system reliability and delivers a superior stakeholder experience across critical banking platforms.
Under a five-year agreement, Cognizant is working closely with Axis Bank to support systems across key business verticals, including Branch and Operations, Cards, Corporate Banking and Treasury, Core Platforms and Payments, Finance and Accounting, Retail and Wholesale Banking, Data Platforms and Integration.
Commenting on the collaboration, Avinash Raghavendra, Group Head - Information Technology & Retail Operations, Axis Bank, said, "The implementation of AMS 2.0 is part of Axis Bank's efforts to build a more resilient, scalable, and automation enabled operations model. Cognizant has worked closely with the Bank during this transition to support a complex application environment. We look forward to collaborating with Cognizant for Application Management Services (AMS) to enhance operational effectiveness and support the Bank's evolving business and technology needs."
Ganesh Ayyar, President –
About Axis Bank:
Axis Bank is one of the largest private sector banks in
For more information, visit the website: https://www.axis.bank.in
About Cognizant:
Cognizant (NASDAQ: CTSH) is an AI builder and technology services provider, building the bridge between AI investment and enterprise value by building full-stack AI solutions for our clients. Our deep industry, process and engineering expertise enables us to build an organization's unique context into technology systems that amplify human potential, realize tangible returns and keep global enterprises ahead in a fast-changing world. See how at https://www.cognizant.ai/ or @cognizant.
For more information, please contact:
Cognizant
Hema Swamy: Manimekalai.Swamy@cognizant.com
Axis Bank:
Sandeep Kumar: Sandeep353.kumar@axisbank.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/axis-bank-and-cognizant-collaborate-to-strengthen-application-management-with-ams-2-0--302881065.html
SOURCE Cognizant Technology Solutions Corporation
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What is the objective of Axis Bank’s AMS 2.0 initiative with Cognizant?
AMS 2.0 is described as a structured, jointly driven program intended to strengthen delivery governance, improve operational consistency and accelerate adoption of automation across application support services. The model is built to enhance service reliability and cost efficiency while enabling productivity, scalability and standardized processes with emphasis on governance, compliance and operational discipline.
Which Axis Bank functions are covered under the AMS 2.0 collaboration with Cognizant?
Under the five-year agreement, Cognizant supports systems across Branch and Operations, Cards, Corporate Banking and Treasury, Core Platforms and Payments, Finance and Accounting, Retail and Wholesale Banking, and Data Platforms and Integration.
How does Axis Bank position AMS 2.0 within its broader technology strategy?
Axis Bank presents AMS 2.0 as a key pillar of its broader technology transformation journey, focusing on a scalable, resilient and future-ready IT operating model that supports business growth, enhances system reliability and delivers superior stakeholder experience across critical banking platforms.