KBC Group renews collaboration with Cognizant to improve IT services and customer experience

Rhea-AI Summary

Cognizant (CTSH) has renewed its partnership with KBC Group, a Belgian universal multi-channel bank-insurer, extending their collaboration until 2027. The agreement positions Cognizant as KBC's partner for comprehensive IT services, including application development & maintenance, data services, infrastructure, and quality engineering.

The renewal builds upon their 11-year relationship and aims to support KBC's IT and business transformation goals. According to Isabel Van Mele, KBC's CIO, the partnership aligns with their objectives of enhancing customer experience, supporting innovation, and maintaining operational excellence. Cognizant's team will focus on improving service quality, ensuring operational stability, fostering innovation, and optimizing cost-effectiveness for KBC Group.

Positive

• Secured contract renewal with major financial institution until 2027
• Extended 11-year relationship with KBC Group, demonstrating client satisfaction
• Comprehensive IT services agreement covering multiple technology areas

Negative

• None.

News Market Reaction

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+0.88% News Effect

On the day this news was published, CTSH gained 0.88%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

KBC Group and Cognizant celebrate over a decade of collaboration with a renewed agreement until 2027. Cognizant will provide various IT services, focusing on quality and cost-effectiveness.

BRUSSELS, Feb. 10, 2025 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) today announced the renewal of its relationship with KBC Group, a leading Belgian universal multi-channel bank-insurer.

This renewal of the agreement will extend until 2027, positioning Cognizant as KBC Group's partner in supporting its IT and business transformation across the entire spectrum of IT services, including application development & maintenance, data services, infrastructure, and quality engineering.

"We are pleased to renew our agreement with Cognizant, as it supports our goals of creating superior customer experience, supporting innovation, and maintaining operational excellence," said Isabel Van Mele, Chief Information Officer of KBC Bank & Insurance. "Cognizant's ability to provide various IT services, focusing on quality, stability, and cost-effectiveness, makes it an important partner for KBC. We look forward to continuing our collaboration to achieve our organizational objectives."

Cognizant and KBC Group have enjoyed a long-standing relationship for over 11 years, built on mutual trust, respect, and a proven track record. This agreement has been characterized by a collaborative spirit, seeking win-win solutions for both parties. The renewal of the relationship underscores the commitment of both organizations to continue bringing execution focus, innovative solutions and thought leadership to KBC Group. Cognizant's existing team and service offerings are expected to enhance quality, ensure operational stability, foster innovation, and optimize cost-effectiveness for KBC Group.

"We are honored to extend our partnership with KBC Group," said Geert Lejon, Country Manager, Belgium & Luxembourg at Cognizant. "Our extensive experience in delivering a wide range of IT services has been crucial in helping KBC achieve its objectives over the past eleven years. Our team is excited to continue this work and further enhance our collaboration."

About Cognizant

Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.

About KBC Group

KBC is one of the leading financial groups in Europe. It is a multi-channel bank-insurance group with a geographic focus on Europe, catering mainly to retail clients, SMEs and local midcaps. The group occupies significant, and in many cases leading positions in its core markets of Belgium, Czech Republic, Bulgaria, Hungary and Slovakia. The KBC group has also selectively established a presence in a number of other countries and regions around the world.

KBC Group employs around 41000 staff and caters for about 13 million clients in its core markets. KBC Group NV is listed on Euronext Brussels (ticker symbol 'KBC').

For more information, contact: GlobalCommunications@cognizant.com 

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SOURCE Cognizant Technology Solutions

FAQ

What is the duration of Cognizant's renewed contract with KBC Group?

Cognizant's renewed contract with KBC Group extends until 2027.

What IT services will CTSH provide to KBC Group under the renewed agreement?

Cognizant will provide application development & maintenance, data services, infrastructure, and quality engineering services to KBC Group.

How long has CTSH been working with KBC Group before this renewal?

Cognizant has been working with KBC Group for over 11 years before this renewal.

What are the main objectives of KBC Group's partnership with CTSH?

The partnership aims to create superior customer experience, support innovation, maintain operational excellence, and optimize cost-effectiveness for KBC Group.