# Cognizant selected as Strategic Partner to Transform Technology Portfolio and Quality Assurance Processes
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-03-31
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Cognizant Enhances FCA's Market Surveillance and Risk
Meta Description: Cognizant (NASDAQ: CTSH) chosen by FCA to boost efficiency, reliability, and scalability of core IT applications for financial market surveillance, supervisory
URL: https://financedigest.com/cognizant-selected-as-strategic-partner-to-transform-technology-portfolio-and-quality-assurance-processeshtml

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_New [Digital](https://www.financedigest.com/citigroups-head-of-digital-assets-for-markets-unit-departs-memo-says.html) Technologies Will Drive Business Agility and Lower Costs of Financial Market Surveillance and Risk Management Operations_

[Cognizant](http://www.cognizant.com/) (NASDAQ: CTSH) today announced that it has been selected by the United Kingdom’s [Financial Conduct Authority](https://www.fca.org.uk/about/the-fca) (FCA), to enhance the efficiency, reliability and scalability of core IT applications and quality assurance processes related to the agency’s market surveillance, supervisory analysis, reporting and risk management functions. The FCA is the conduct regulator for 56,000 financial services firms and financial markets in the United Kingdom.

This three-year agreement builds on the FCA’s ongoing relationship with Cognizant which began in 2011, when Cognizant was selected as one of the agency’s key IT services suppliers. Under the new agreement, Cognizant will expand its scope of work with the FCA, upgrading core IT applications, developing and implementing new software, leveraging automation across the enterprise, and driving best practices for agile development.  [Cognizant](https://www.financedigest.com/cognizant-acquires-meritsoft-award-winning-fintech-innovator-post-trade-processing.html) will also support the FCA as the regulator increases its use of [digital analytics to manage](https://www.financedigest.com/the-clot-management-devices-market-to-be-digitally-absorbent.html "The Clot Management Devices Market to be digitally absorbent") data and inform business decisions.

As the demands on the FCA in regulating the UK financial [services industry become ever more rigorous with the rise of digital](https://www.financedigest.com/how-digital-identity-verification-will-revolutionize-security-defenses-in-the-financial-services-industry.html "How Digital Identity Verification Will Revolutionize Security Defenses in the Financial Services Industry") technologies, cyber-security considerations and other market challenges, Cognizant is pleased to be the FCA’s partner of choice in transforming its applications portfolio for greater efficiency, effectiveness and agility.  We are committed to helping the FCA meet its objective of ensuring that the financial [markets are operating](https://www.financedigest.com/augmented-reality-ar-virtual-reality-vr-to-dictate-the-growth-of-mobile-operating-tables-market.html "Augmented Reality (AR)/Virtual Reality (VR) to dictate the growth of Mobile Operating Tables Market") in a fair, honest, and effective manner,” said VivekDaga, Vice President and Head of the United Kingdom and Ireland at Cognizant. Cognizant will combine its deep understanding of the [financial](https://www.financedigest.com/financial-literacy-what-is-financial-literacy-and-why-is-it-important.html) services industry and the UK regulatory landscape with proven expertise in [digital systems](https://www.financedigest.com/the-digital-pathology-systems-market-to-get-digitally-innovative.html "The Digital Pathology Systems Market to get digitally innovative") and technology to deliver tangible outcomes for the FCA.


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