The global IT leader and consultancy firm Cognizant has been selected as the technology partner of the European Bank for Reconstruction and Development (EBRD).
As part of a long-term five-year agreement, Cognizant will aid in the execution of the “Tech Blueprint” of EBRD an essential strategy of the multilateral development bank to modernize the operational infrastructure and fast-track digital delivery.
Modernization of Multilateral Banking Infrastructure for High Governance and Scale
As opposed to the traditional retail commercial banks, the European Bank for Reconstruction and Development serves in 40 countries in Central and Eastern Europe, Central Asia, and Southern and Eastern Mediterranean. The bank is mandated to develop enterprises in terms of stability, compliance with regulation, and an adaptive infrastructure capable of coordinating complex investments from multiple continents.
The needs of such an organization will be met by using a combination of a managed services and flexible capacity engineering approach. The multi-year model of work will entail five domains of technology, including digital and workplace management, hybrid cloud infrastructure, data governance and cybersecurity, enterprise software engineering, and applied artificial intelligence automation.
Neuro® IT Operations: Offers consistent visibility into the bank’s worldwide infrastructure to help the IT team identify unusual activity, predict system chokepoints, and fix operational issues without any human intervention.
Flowsource™ Engineering Platform: Employs generative and agentic AI throughout the whole software development lifecycle (SDLC) to automate coding, documentation, and quality control processes, as well as build self-healing architecture and quick feature releases.
WorkNEXT™ Digital Workplace Suite: Offers personalized experiences for employees via translation AI, sentiment analysis, voice-based interfaces, and automatic support orchestration.
In addition, a continuous improvement process is included in the framework to ensure that all implemented solutions deliver efficiency gains and cost savings as the bank’s technology ecosystem develops.
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“At the EBRD, the Tech Blueprint is our strategic roadmap for enhancing the technology and capabilities that support the Bank’s mission and transformation,” said Subhash Chandra Jose, Managing Director for Information Technology and Chief Information Officer at the EBRD. “As we continue to support sustainable, private sector-led growth and help build competitive, resilient and well-governed economies, we need technology that is secure, adaptable and built for the future. Our partnership with Cognizant will help us to optimize technology, further strengthen our resilience and create capacity to innovate at scale, enabling us to increase the impact for people in our countries of operation.”
“Our Tech Blueprint is helping us evolve the way we deliver technology across the Bank, and strategic partnerships are an important part of that journey. We have partnered with Cognizant for their managed services expertise, AI-enabled delivery and results-driven ways of working, all of which will underpin our Tech Blueprint and transformation. Through this partnership we will accelerate our modernization and digitalization,” said Simon Reeves, Director Technology at the EBRD.
“As an AI Builder, Cognizant’s role is to help clients turn their technology investments into dependable operations and measurable outcomes, and that only happens when services are made to work across the complexity of a real enterprise estate,” said Rohit Gupta, UK&I Managing Director at Cognizant. “The EBRD operates in a demanding, highly governed environment across three continents. By combining our decades of industry experience, end-to-end systems integration expertise, and AI-enabled operational capabilities within a collaborative framework, we will help the EBRD run its critical technology services with confidence and accelerate the modernization and innovation that drive its mission.”
Sustainable Economic Growth with the Aid of Agile Systems
Through the transformation of operations into AI-enabled outcome-based processes, the partnership creates a robust technology framework for the EBRD. The enhanced infrastructure provides the organization with an opportunity to gain access to rare technical skills, accelerate the process of development, and secure essential financial systems, while freeing up institutional efforts for financing the private sector.