Cognizant in digital deal with Financial Services Compensation Scheme

Technology outsourcing company Cognizant has signed a three-year digital deal with UK-based Financial Services Compensation Scheme (FSCS) to enhance customer experience.

Cognizant will modernize and secure a broad range of FSCS’ systems and applications to help meet the digital needs of customers. This will help FSCS to handle claims more efficiently and accurately and employ new channels to enhance its customer service.

“We are pleased to partner with FSCS to develop and modernise its systems and applications, driving higher operational efficiencies, while laying the foundation for continuous digital improvements,” said Vivek Daga, head of the UK and Ireland for Cognizant.

Since 2001, FSCS has supported more than 4.5 million people while paying out more than £26 billion in compensation. Financial services firms fund the FSCS though annual levies. FSCS protects investments, insurance, deposits and home finance advice.