TEANECK, New Jersey, May 11, 2011 /PRNewswire/ -- Cognizant (NASDAQ: CTSH), a leading provider of information technology, consulting, and business process outsourcing (BPO) services, announced today that Lincoln Trust, an established leader in the self-directed retirement plan industry, has selected Cognizant to provide BPO services supporting its full range of retirement plan products including member enrollment and on-boarding, distributions and settlements, and plan management.
As part of this multiyear contract, Cognizant will leverage its deep domain, technology and process experience in the financial services industry to help Lincoln Trust maintain the highest levels of service for its 55,000 investors, while maximizing operational efficiency and business effectiveness.
"Providing an exceptional service experience to every client is a hallmark of our business," said Helen Cousins, Executive Vice President and Chief Information Officer, Lincoln Trust. "At a time of immense economic and regulatory pressures on the financial services industry, Cognizant's rich experience in the financial services industry will help us adopt and institutionalize global best practices and help compete with much larger institutions."
"We are honored to help Lincoln Trust set the standard for superior customer service in self-directed retirement plans," said Gajen Kandiah, Senior Vice President and Global Head, Business Process Services and Solutions for Cognizant. "The combination of our experienced staff, deep understanding of core business processes, and leading-edge technology and tools contributes to our ability to be responsive to customer needs."
About Lincoln Trust
Lincoln Trust Company provides open architecture 401(k), profit sharing and self-directed IRA solutions to best meet the needs of companies, their employees and individual investors. As of 2/28/2011, the firm supports plans and IRAs holding over $7.6 billion in retirement assets. Located in Denver, Colorado, Lincoln Trust provides trust, custodial and recordkeeping services to the financial services industry. Our focus is on helping companies establish and maintain retirement plans for their employees, as well as giving individuals flexibility in how they achieve their retirement goals. For more information, visit http://www.lincolntrustco.com or call 1-800-525-2124.
About Cognizant's Banking & Financial Services Practice
Cognizant's Banking & Financial Services practice, which includes banking, insurance and transaction processing, is the company's largest industry segment, serving many of the leading financial institutions in North America, Europe and Asia Pacific. . The practice has a dedicated Cognizant Business Consulting group consisting of industry experts working globally with strategic customers to provide solutions in all facets of financial services. The financial services segment is the largest contributor of revenues and contributed 42.4% of Cognizant's revenues in the December-ended quarter of 2010.
Cognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process outsourcing services, dedicated to helping the world's leading companies build stronger businesses. Headquartered in Teaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industry and business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50 delivery centers worldwide and approximately 111,000 employees as of March 31, 2011, Cognizant is a member of the NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performing and fastest growing companies in the world. Visit us online at http://www.cognizant.com or follow us on Twitter: Cognizant.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.