Axis Bank signs five year deal with Cognizant to upgrade banking systems

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Axis Bank, one of the country's largest private sector banks, has signed a major agreement with Cognizant aimed at strengthening its banking systems for customers. Cognizant is a well known AI and technology services company. The two have announced the successful implementation and go-live of their application management services under the AMS 2.0 programme.

The AMS 2.0 programme is a structured initiative run through the joint effort of both companies. Its aim is to strengthen delivery governance, bring stability to operations and accelerate automation in application support services. This automation-based model places special emphasis on governance, compliance and operational discipline, with the goal of increasing productivity, making systems scalable, standardising processes, and improving service reliability and cost.

The AMS 2.0 programme, led by Axis Bank, is seen as an important part of the bank's larger technology transformation journey. The partnership reflects the emphasis Axis Bank is placing on building a scalable, stable and future-ready IT operating model to support business growth, improve system reliability and give customers a better experience on key banking platforms.

Under the five-year agreement, Cognizant will work with Axis Bank to support systems across several key business departments. These include branch and operations, cards, corporate banking and treasury, core platforms and payments, finance and accounting, retail and wholesale banking, data platforms, and integration.

Speaking on the partnership, Avinash Raghavendra, Group Head of Information Technology and Retail Operations at Axis Bank, said, "Implementing AMS 2.0 is part of Axis Bank's effort to build a more stable, scalable and automation-driven operations model. Cognizant has worked very closely with the bank during this transition to support a complex application environment. We are excited to continue working with Cognizant under application management services to increase operational efficiency and meet the bank's evolving business and technical needs."

Ganesh Iyer, President for Asia Pacific and Japan at Cognizant, said, "We are delighted to be part of Axis Bank's AMS 2.0 programme and to work together with them. Our teams are focused on meeting the bank's application management needs, delivering services with discipline, working in a governance-based manner, and using automation responsibly to increase the stability and efficiency of systems."

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