Our primary research reveals where financial services providers should focus their innovation to build healthy customer relationships in a digital future.

1. The Future
of Money
Transforming the customer relationship for the
financial services industry by understanding
how people relate to money.

2. 2
On January 1, 2018, all banks in the European
Union will lose a key competitive advantage.
From that date on, they will no longer be able to
access data in their customers’ online accounts,
including their transaction and balance history.
PSD2 — the Payment Services Directive — is not
a stand-alone initiative.1
Regulators in North
America are also exploring ways to even the
playing field across the financial services indus-
try. This will accelerate competition, creating the
foundation for increased digital disruption.
When we meet executives at banks,
retirement services providers and insurance
companies, they don’t view their customer re-
lationships with the same confidence as before.
They are thinking long and hard about what it
will take to maintain and deepen relationships to
ensure customers will remain with them longer
and use more of their products and services.
Given how much money the financial services
industry spends on digital (estimated to be more
than $310 billion annually by 20202
), executives
should be asking questions such as:
• Where should we focus our
digital investments?
• How do we build stronger customer
relationships when we become
more digital?
• What is the key to retaining more
customers?
• How do we sell more products per
customer without compromising
company culture and ethics?
• What should digitization do for our
company over the next three to
five years?
• There are so many priorities,
but what should we focus on?
This white paper is written for executives
like you, who are looking to get the right an-
swers. We scoured 100-plus reports on the future
of financial services, but found they were primar-
ily focused on asking customers what they want.
The problem is, your customers do not know
what they want. They are often unaware of why
they act the way they do.
To understand what customers really want,
financial institutions (FIs) need to approach
Executive Summary:
The Slow-Money
Challenge Is the Next
Digital Imperative in
Financial Services

3. The Future of Money | 3
these questions as anthropologists do: Study
people in their real environments and under-
stand how they make sense of money, invest-
ments, pensions, savings, credit and wealth
preservation.
In the fall of 2016, we embarked upon the
most comprehensive anthropological study un-
dertaken in recent times on the future of money.
The study closely followed the lives of people
in the U.S., the UK and Germany, uncovering
hidden truths about their behaviors, emotions
and habits around dealing with finance and FIs.
We also conducted a survey of 3,000 consumers
and multiple interviews with academics, FI execs
and fintech industry players (see Methodology,
page 17).
This white paper provides an entirely new
perspective on what it will take for FIs to build
healthy and winning relationships with their
customers in a more digital future. It provides
new clarity on what matters to your customers,
where to focus innovation and what you as a
leader must do to ensure digital investments
deliver on what customers really want.
The core idea is that financial providers
should focus the next wave of digitization on
what we call people’s “slow money” (any future
spending or saving) rather than “fast money”
(their daily and short-term spending). Until now,
digital innovation and fintechs have largely
focused on solving problems related to people’s
fast money.
While digitization has delivered many
benefits for customers and companies, it hasn’t
resulted in the strong customer relationships
necessary for winning in the future. In contrast,
our study demonstrates that getting slow money
right will make consumers more loyal, less price
sensitive and more inclined to do more business
with your organization. That’s why we believe
that resolving people’s slow-money challenges is
the next digital imperative in financial services.
And it’s why we estimate that banks can achieve
a financial impact corresponding to an increase
of 14.2% of revenue by getting the slow-money
challenge right.

4. 4
On the surface, people’s relationship with money
appears straightforward. Digital finance has
made it easier than ever to make payments,
check balances and access financial data. It is
easy to assume that money has never been sim-
pler. But go into any home and spend time with
people exploring their finances, and you hear a
very different story.
In Los Angeles, we spent two days with
Linda, a 54-year-old event consultant. We sat
down with Linda and asked her to map out her
financial products and providers. Two hours later,
she had finalized mapping
out her 14 credit cards, six
insurance policies, five mort-
gages and multiple pensions.
She forgot which products
she had with which provider
and failed to recall a retire-
ment account entirely.
While Linda may have
several more financial prod-
ucts than most, her experi-
ence with finance is similar to that of everyone
we met: She acquired her accounts ad hoc over
the years, and her financial setup seems overly
complex and unwieldy. There are gaps and re-
dundancies. Her finances are far from optimized.
This fragmentation plays a significant role in why
Linda feels her finances are out of control. Her
service providers, some of the leading financial
services institutions in the U.S., are not helping
Linda piece together her fragmented financial
ecosystem.
Across the U.S., Germany and England, we
heard various stories, all with the same theme:
People feel as if they are not in control of their
money. The people we met are struggling to
manage their spending habits, agonizing over
how to best plan for retirement, and worrying
their insurance providers won’t pay out.
Beneath these practical concerns lies a per-
sistent sense of anxiety caused by being over-
whelmed by their finances, lacking a sense of
financial agency and experiencing their money
as fundamentally fragmented. As Blair from the
Bronx, New York, told us: “I woke up in the mid-
dle of the night last night because I was having a
nightmare about money.”
Every element of consumers’ financial
setup is deeply interconnected. To take a simple
example, what people spend day-to-day affects
how much they will save; however, rather than
Part 1:
People’s Relationship
with Money Is Broken
People feel as if they are not in control
of their money. The people we met are
struggling to manage their spending
habits, agonizing over how to best plan
for retirement, and worrying their
insurance providers won’t pay out.

5. The Future of Money | 5
37%
experiencing this
link, they perceive
their network of
money in frag-
ments. Finance is
atomized, and that
atomization feeds
insecurity and worry for the people we met.
When you ask people about their biggest
source of stress, they don’t say terrorism, their
health or their job prospects — they point to
finance and money challenges (see Figure 1). FIs
have a long way to go to help customers improve
their financial well-being and truly be relevant in
their lives.
In short, people’s relationship with money
is broken. This finding was, to us, deeply dis-
turbing. No other consumer product we have
ever studied has the same all-pervasive quality.
For the people we met, not knowing if they are
saving enough for retirement means not know-
ing how they will live when they grow older, or
if they will be able to retire at all. Not knowing
whether they are putting enough money aside
for their children’s education means not knowing
whether they are competent parents. Money
It’s that Stressful
The biggest sources of stress in people’s lives are as follows:
Figure 1
Source: ReD Associates and Cognizant survey of 3,074 consumers in the U.S. and the UK, 2017
Financial or money challenges
Health concerns
Relationships and family responsibilities
My job (if employed)
Terrorism and crime
None of these
0% 10 20 30 40
say money and finances are the
biggest source of stress in their lives.
pervades almost everything people value in life.
And so, when people’s relationship with money
is broken, it is almost as if their relationship with
life itself were broken. This needs to be fixed. But
it requires a deeper understanding of why this
relationship is broken.
When you ask people about their biggest
source of stress, they don’t say terrorism, their
health or their job prospects – they point to
finance and money challenges.

6. 6
When we look at their relationship with money,
people with fluid lifestyles are the most stressed
about their finances. They are also the most digital
consumer group. And even if they believe their
banks have a good understanding of their needs,
they are also the least loyal group of consumers.
6

7. The Future of Money | 7
Money and finance is
a big source of stress
Regularly use apps
and online tools for
slow money
Believe their bank has a
good understanding of their
financial goals and needs
Lifestyle
Fluid Lifestyle
Fixed Lifestyle
Understanding Different Customers
0 10 20 30 50 60 70 8040
Age
Millennials
Boomers
0% %10 20 30 50 60 70 8040
Gender
Men
Women
0 10 20 30 50 60 70 8040%
When You Get Your Consumers
Wrong, You Wreck Their
Relationship with Money
In our research, we consistently heard consumers com-
plain that their FIs do not “get them.” People said they
consistently felt put in the wrong boxes. We looked at
all these interviews, from thousands of customers and
dozens of executives, and found that consumers could
be segmented in two basic ways.
By Age and Gender
Many of the industry executives with whom we met
said they were kept up at night by their customers’
generational changes, as well as the different ways
men and women navigate finance. And rightly so: Our
data suggests there are quite important differences
across age groups when it comes to finance.
For example, millennials use digital slow-money
products much more frequently and are much more
stressed about money than are their boomer parents.
Similarly, there are differences between men and
women, even though these differences are significant-
ly smaller than those between age groups. To take
just one example, women worry more than men about
their finances.
By ‘Fluids’ and ‘Fixed’
Our research also pointed to another, less well-known
difference — namely, between what we call people with
fluid lifestyles and those with more fixed lifestyles.
People with fixed lifestyles will typically stay in the
same job for many years. They are less likely to live in
a different country from the one in which they were
born. People with more fluid lifestyles, on the other
hand, are more likely to change industry or country.
They also tend to be better educated and have higher
incomes than their stable lifestyle counterparts.
When we look at their relationship with money,
people with fluid lifestyles are the most stressed about
their finances, and the most likely to use digital tools
to manage their finances. And even if they believe
their banks have a good understanding of their needs,
they are also the least loyal group of consumers (see
Figure 2).
Figure 2
Source: ReD Associates and Cognizant survey of 3,074 consumers in the U.S. and the UK, 2017

8. 8
Part 2:
Two Fundamental
Types of Money:
Fast and Slow
Ask any economist, and they’ll tell you money
is fungible: A dollar in my wallet is equivalent to
and wholly exchangeable with a dollar in my bank
account. Every euro is exactly the same as every
other euro. But all the people we met with have
a strikingly different experience of their money.
They exhibit a wide variety of attitudes, feelings
and behaviors around different pots of money.
Alice, a 28-year-old senior healthcare man-
ager from London, was proud to
earn an £80,000 salary but felt
a tinge of guilt about the money
she borrowed from her parents
for a down payment on her first
mortgage. She found it very
easy to spend all the money on
her credit card on nights out
in London but diligently trans-
ferred money to her parents for safekeeping
each month, money that she refused to touch
unless she faced a financial emergency.
She saw her pension as a backup plan —
something she could not rely upon given the
fragility she perceived in the financial system.
On the other hand, she saw her home, given its
clear tangibility and no visible price volatility, as
a reliable investment that would support her in
later life, acting as her de facto retirement plan.
This is what she believed despite the housing
turmoil seen across the world just a few years
ago. For Alice, her mortgage was useful, produc-
tive debt, but her credit facility was negligent,
indulgent debt.
We saw, over the course of our ethno-
graphic studies, great diversity in how different
people think and feel about money. This diversity
is fundamentally misaligned with how financial
institutions think about their customers’ money.
Within all the attitudes and perceptions of mon-
ey, there was a clear pattern: People experience
their money as falling into one of two primary
types: fast and slow.
Fast money (bill payments, daily expen-
ditures, bank accounts, etc.) is used in and
assigned to the present and near future; it is
We saw great diversity in how people
think and feel about money. This diversity
is fundamentally misaligned with how
financial institutions think about their
customers’ money.

9. The Future of Money | 9
FAST MONEY
Current checking accounts,
overdrafts, credit facilities, cash,
mobile payments
Goal: Simplicity
Defining
parameters
SLOW MONEY
Standing orders, savings accounts,
pensions, insurances, financial market
investments, physical assets
Goal: Stability and security
Short timeframe
Little skill/faith needed
More intelligible
Mostly simple decisions
Long timeframe
Significant skill/faith needed
Less intelligible
Mostly complex decisions
engaged with on a regular basis, and its manage-
ment is now often digital. Fast money is primarily
functional in nature, and is exchanged for goods
and services. Slow money (pensions, insurance,
investments, etc.) is assigned to some distant
future purpose and is vastly more difficult for
customers to manage and comprehend. In the
present moment, the primary value of slow mon-
ey is to give people peace of mind.
Fast money has greatly benefited from dig-
itization. For customers, digitization has brought
a level of efficiency, accessibility and conve-
nience to their fast-money management that is
hugely appreciated. Providers that were the first
movers in this space often won over customers
with these new digital offerings. However, the
industry is far from having successfully estab-
lished what digital can do for slow money. And
it is around slow money that people face by far
their greatest financial needs and challenges.
Instead of providing comfort and certainty
that they are well prepared for the future, people
agonize over their slow money. They struggle
to translate their personal needs and life goals
Figure 3
The biggest barrier for financial institutions
in building meaningful customer relationships
today is establishing how digital can support
people’s slow-money challenges.

10. 10
Pretty complicated
People who find the following products
very easy to manage.
Dissecting Online Money Management
Not that digital
People who use digital apps or online tools to
get information on the following products
“very regularly” or “regularly.”
into financial targets, and they fail to understand
whether they are on track to meet those targets
once they have been set. They do not trust that
their slow money and the financial providers that
hold that money will support them in the future.
Their slow money doesn’t make sense to them,
and it fails to alleviate their financial stress.
Today, the biggest barrier for FIs seeking
to build meaningful customer relationships
is demonstrating how digital can support the
marriage of people’s fast- and slow-money
challenges.
Dailyaccounts
Onlinebankingactivities
Savingsaccounts
Creditcards
Homeinsurance
Pensionorretirement
savings
Lifeinsurance
Investmentportfolio
Bankbalance
Transactionhistory
Insuranceproducts
Pensionorretirement
account(s)
Savings
%
0
20
40
60
80
100
%
0
20
40
60
80
100
Figure 4
Source: ReD Associates and Cognizant survey of 3,074 consumers in the U.S. and the UK, 2017

11. The Future of Money | 11
Part 3:
Escaping the
Utility Trap
From North America to Asia Pacific, the finan-
cial services executives we met with are looking
for solutions that will enable their businesses
to build stronger relationships with customers.
Naturally, they are searching for opportunities to
improve product penetration, increase revenue
per customer and boost customer retention.
What is striking is the growing void between that
ambition and how customers really feel about
their financial services providers. Customers told
us, increasingly, that they feel as if they have a
distant, impersonal and at times antagonistic
relationship with their providers.
Only 19% of consumers we surveyed
described their financial providers as having a
proper understanding of their financial needs
and goals. Twice as many consumers described
their financial providers as wanting their money
(42%) vs. helping them get more out of their
money (21%). Rather than seeing financial pro-
viders as a legitimate, reliable source of financial
guidance and support, financial institutions are
seen as utilities.
In Munich, Anita, a 45-year old mother of
two and legal council at a publishing firm, de-
scribed her low expectations of her bank.
“[My current account] is like electricity; it just
comes out of the socket ... and I want my money
to come out of the machine when I need it — that
is it.”
It might seem natural to attribute weak
customer loyalty and engagement to the last
decade’s financial crisis, bankers’ dispropor-
tionate bonuses, ongoing financial scandals and
newsworthy cases of litigation. Certainly, many
of the people we met described themselves as
being more skeptical of FI since the global eco-
nomic woes of 2007–2008. Far more critically,
however, is the transactional relationship people
have with providers and the regularly alienating
experience they have when interacting with
customer services.
When we met Anthony, 44, in London, he
had decided to finally act on his long-term goal
of setting up a personal retirement account. We
joined him on a visit to see an advisor at his local
branch of a major high-street bank in the neigh-
borhood of Canary Wharf. On arrival, the advisor
established the purpose of Anthony’s visit and
identified him in the system. Despite having been
a customer with the bank for over 20 years,
Anthony was asked various questions about his
salary and personal situation. The bank did not
offer any pensions that were relevant to him, so

12. 12
27% said an FI professional has
checked whether they have the right
insurance coverage.
Many financial services providers
fail to attend to their customers’
slow-money needs, our research
revealed. For instance:
And a large majority believe banks
are focused purely on transactional
activities.
90% said their relationship with their bank
is defined by simple transactions, such as
depositing money and checking account
statements, etc.
25% noted that an FI professional has
analyzed their plans for retirement to
see if they are saving enough.
24% pointed out that someone from
an FI professional has reviewed their
savings and offered advice on getting
more out of their money.
23% said an FI professional from an FI
had reached out to them with advice
on getting more out of their money.
90%
10%
Our Survey Said ...
Figure 5
Source: ReD Associates and Cognizant survey of 3,074 consumers in the U.S. and the UK, 2017

13. The Future of Money | 13
Anthony left the bank feeling just as confused
about his options and doubtful that his bank
understood him and his needs. This FI missed an
opportunity to play an advisory role in Anthony’s
financial life, instead reinforcing his perception
that the bank and its services were not relevant
to him.
To avoid becoming purely a utility provider,
with no meaningful customer relationship, finan-
cial institutions would do well to recognize the
role they can play in customers’ financial lives.
We consistently found that providers either
overwhelmed their customers with information,
product options and features, or they out-
sourced financial decisions for their customers,
leaving them feeling like they were in the dark.
In both scenarios, customers felt out of control
and unsupported.
We consistently found that providers either
overwhelmed their customers with information,
product options and features, or they outsourced
financial decisions for their customers, leaving
them feeling like they were in the dark.
There is, however, a middle ground, where a
few institutions successfully help their custom-
ers navigate their finances. The best financial
services:
• Guide the customer through financial
decisions about how they want to live
and what their goals are for their money.
• Take care of the practical details but
regularly update the customer and leave
them feeling in control.
• Translate their financial data into
information that is meaningful for the
customer.
• Recognize that customers wanted peace
of mind from their slow money.
Financial services providers should adapt these
principles and best practices to the digital space,
giving customers convenience when it comes to
their fast money and meaningful guidance and
integration when it comes to their slow money.

14. 14
To provide customers with a unique and mean-
ingful sense of agency, we see five actions that
FIs should consider taking immediately:
1. Activate data to recognize the customer:
Most FIs have an abundance of customer data
yet consistently fail to recognize customers, re-
sulting in broken interactions and situations, with
the wrong products and services being pushed
to the wrong consumers. FIs must build a system
of recognition that remembers everything about
the customer and consolidates transactional,
behavioral, financial and socio-demographic data
into one truth about the customer that is shared
and used at every touchpoint.
2. Build predictive models for financial key
moments: Most financial providers talk about
life events, and yet we did not meet one custom-
er who said his or her provider had systematical-
ly been of help during key life events such as ed-
ucation, marriage, parenthood, changing jobs or
losing family members. Building better predictive
models (while respecting consumer privacy) can
help FIs better understand when their customers
are about to experience life events with major
financial ramifications. Working to identify ways
of being relevant not only for life events them-
selves but also to help consumers prepare for
them will differentiate leading FIs from laggards.
3. Release the power of digital learning:
Customers don’t want to become experts in
finance, but they do want a sense of mastery
when it comes to dealing with their money. FIs
must learn to motivate people to develop skills
and sensibilities in a way that fits each custom-
er’s capabilities and situational needs without
making them feel they are in school. It is critical
to help customers by integrating guidance and
data interpretation into the front end of existing
digital platforms and providing guidance at the
moment they’re making a financial decision.
4. Digitize financial advice: As FIs continue
to replace people and branches with digital
offerings, there’s never been a greater need to
develop tools that nurture good financial habits
and guide customer decision-making. FIs must
properly pivot to turn their expertise into offer-
ings that guide customers to healthier financial
behaviors and interpret what their financial data
concretely means for their situation. They must
provide meaningful points of comparison to help
customers understand whether they are finan-
cially on track.
5. Organize around the customer: Often,
financial institutions are structured in siloes, or-
ganized around product lines and departments,
and not the customers they serve. They must
serve up a shared point of view on what matters
most to customers and better share and surface
data that resides across business units.
They must also evaluate performance
based on the financial well-being of the
customer rather than product or compa-
ny satisfaction.
Part 4:
Getting Started
Customers don’t want to become
experts in finance, but they do want
a sense of mastery when it comes to
dealing with their money.

15. The Future of Money | 15
Cost Reduction
Digitizing slow money will also have significant cost-re-
duction effects. Overall, our estimate is that banks can
achieve an annual cost reduction effect corresponding
to 6.2% of revenue. The largest single effect will come
from digitization of customer interaction, as more
customer-bank interactions will move online. Other
impacts will be derived from the following:
• Reduced cost of customer acquisition.
• Reduced cost due to consolidation of IT
systems required for banks to combine fast
and slow money.
• Lower loan loss provisions, as risk assessment
will be improved through better and smarter
customer profiling.
Maximizing Digital’s Fast- and Slow-Money Impact
Figure 6
Source: ReD Associates and Cognizant, estimates based on previous project experience, standard industry assumptions and latest available annual
reports from the five largest U.S. consumer banks. Implementation costs are not included.
14.2
Cost
6.2%
Revenue
8%
Revenue effects 8% Cost effects 6.2%
Reducing
customerchurn
Increasingcustomer
acquisition
Increasingnumberof
productspercustomer
Increasingrevenue
perproduct
Reducingcost
ofacquisition
ReducingOp-Exby
consolidatingITsystems
Reducingcostbydigitizing
customerinteraction
ReducingCap-Exby
consolidatingITsystems
ReducingOp-Exthrough
lowerloanlossprovisions
TOTAL (%)
3.1%
1.5%
1.5%
1.8%
0.6%
0.9%
4.3%
0.3% 0.1%
By digitizing slow money, we estimate that banks
can achieve a financial effect that corresponds to
an increase of 14.2% of revenue. For a top-five U.S.
consumer bank, this would mean an annual lift of more
than $4.5 billion.
Revenue Increases
The majority of the impact comes from increased
revenue. Overall, we estimate that banks could achieve
an annual revenue increase of 8%. The biggest impact
stems from a reduction in customer churn — more
slow-money products will increase customer loyalty
and lock-in. Other increases will be derived from:
• Attracting new customers from competitors.
• Attracting customers who may not have full
coverage of financial products.
• Increasing the number of products sold to each
customer through synergies between fast- and
slow-money products and services.
• Raising the revenue generated per customer.
Digitizing Slow Money Can Help Banks
Significantly Increase Revenue and Reduce Costs

16. 16
METHODOLOGY
ACKNOWLEDGEMENTS
FOOTNOTES
The study was conducted over five months in
2016 and 2017 and was comprised of:
• An ethnographic study with 32 families and
their social networks in the U.S., England
and Germany. We spent two full days with
each person, meeting their friends and
families as well as their key financial advisors
(professionals or personal relations).
• A survey of 3,000 people in the U.S. and the
UK to test the insights from the ethnographic
study.
The authors would like to thank Steve DeLaCastro and Ed Merchant, Senior Digital Partners in
Cognizant’s Banking and Financial Services business unit, and Mikkel B. Rasmussen, EU Director of
ReD Associates, Funke Sangodeyi and Daniel Bird from ReD Associates, for their meaningful
contributions to this report.
1. ”Payment Services Directive,” European Commission,
https://ec.europa.eu/info/law/payment-services-psd-2-directive-
eu-2015-2366_en.
2. Philippe Dintrans, Manish Bahl and Amit Anand, “Seizing the Digital
Advantage in Banking and Financial Services,” Cognizant Technology
Solutions, 2016, https://www.cognizant.com/FoW/twa-banking-and-
financial-services-codex2320.pdf.
• In-depth conversations with professionals with
decades of experience advising consumers on
key financial decisions.
• Interviews with academic thought leaders
with in-depth understanding of how people’s
relationship to money has evolved historically.
• Conversations with more than 50 leaders from
some of the world’s biggest financial services
institutions as well as fintech entrepreneurs.

17. The Future of Money | 17
ABOUT THE AUTHORS
Andreas W. Hansen is a partner with ReD Associates
in Copenhagen. He draws on the social sciences to
advise some of the world’s largest companies on topics
including corporate strategy, marketing strategy and
organizational development. Andreas has 15 years
of experience at The Boston Consulting Group, the
Danish Ministry of Finance and as a journalist. He
holds an MBA from London Business School, an MA in
cultural studies from Goldsmith’s College, University of
London, an honors bachelor in international relations
from University of Cape Town, and an MsC and a BsC
in political science from University of Copenhagen.
Andreas frequently writes on topics related to business
strategy, and has published in leading outlets, including
Harvard Business Review. He can be reached at awh@
redassociates.com.
Martin Gronemann is a partner with ReD Associates in
Copenhagen. He has driven ReD’s practice in financial
services over the past five years, advising C-suites on
how to get in sync with the reality of their customers’
needs and lives. Drawing on social science, Martin has
worked with clients to develop customer engagements
that create trust and financial well-being for people;
transition to a more digital customer engagement
model; build stronger and more profitable customer
relationships; and uncover new sources of growth.
Martin has worked with a broad spectrum of financial
services clients, including retail banks, pension
providers, wealth managers, and insurance companies.
He has 10 years of experience at ReD and holds an MA
in political science from the University of Copenhagen
where he has also worked as external lecturer. Martin
frequently gives talks and writes on how to use human
sciences to drive strategic decision-making. He can be
reached at mgr@redassociates.com.
MARTIN GRONEMANN
RED ASSOCIATES
ANDREAS WESTER
HANSEN
RED ASSOCIATES
Sriniketh Chakravarthi leads Cognizant’s North Amer-
ican Banking and Financial Services (BFS) business
unit. During his tenure at Cognizant, Sriniketh has
held multiple roles, including BFS leader in Continental
Europe and BFS leader for business process services
in North America. He also led corporate development
for Asia Pacific and was instrumental in setting up and
expanding Cognizant’s footprint in China and in the
Asia Pacific region. He holds a bachelor’s degree in
engineering from the National Institute of Technology,
Jamshedpur, and an MBA in finance from the Indian
Institute of Management, Calcutta. Sriniketh can be
reached at Sriniketh.Chakravarthi@cognizant.com.
Philippe Dintrans is Chief Digital Officer and Leader of
Cognizant Business Consulting’s Banking and Financial
Services Practice. Philippe has led numerous consulting
engagements covering business transfor­mation, IT
transformation and change management for marquee
Cognizant clients. He holds a master’s of science
degree in engineering from the Massachu­setts Institute
of Technology (MIT) and an MBA from INSEAD. Philippe
can be ached at Philippe.Dintrans@cognizant.com.
PHILIPPE DINTRANS
COGNIZANT
SRINIKETH
CHAKRAVARTHI
COGNIZANT

18. World Headquarters
500 Frank W. Burr Blvd.
Teaneck, NJ 07666 USA
Phone: +1 201 801 0233
Fax: +1 201 801 0243
Toll Free: +1 888 937 3277
European Headquarters
1 Kingdom Street
Paddington Central
London W2 6BD England
Phone: +44 (0) 20 7297 7600
Fax: +44 (0) 20 7121 0102
India Operations Headquarters
#5/535 Old Mahabalipuram Road
Okkiyam Pettai, Thoraipakkam
Chennai, 600 096 India
Phone: +91 (0) 44 4209 6000
Fax: +91 (0) 44 4209 6060
Cognizant Digital Business
205 East 42nd Street
21st Floor
New York, New York 10017
Phone: +1 212 879 6911
© Copyright 2017, Cognizant. All rights reserved. No part of this document may be reproduced, stored in a retrieval system, transmitted in any form or by any means, electronic,
mechanical, photocopying, recording, or otherwise, without the express written permission from Cognizant. The information contained herein is subject to change without
notice. All other trademarks mentioned herein are the property of their respective owners.
TL Codex 2547
ABOUT COGNIZANT DIGITAL BUSINESS
Cognizant Digital Business helps our clients imagine and build the Digital Economy. We do this by bringing together human insight, digital strategy, in-
dustry knowledge, design, and new technologies to create new experiences and launch new business models. For more information, please visit www.
cognizant.com/digital or join the conversation on LinkedIn.
ABOUT COGNIZANT BANKING AND FINANCIAL SERVICES
Cognizant’s Banking and Financial Services business unit, which includes consumer lending, commercial finance, leasing insurance, cards, payments,
banking, investment banking, wealth management and transaction processing is the company’s largest industry segment, serving leading financial
institutions in North America, Europe, and Asia- Pacific. These include 17 of the top 20 North American financial institutions and nine out of the top
10 European banks. The business unit leverages its deep domain and consulting expertise to provide solutions across the entire financial services
spectrum, and enables our clients to manage business transformation challenges, drive revenue and cost optimization, create new capabilities, miti-
gate risks, comply with regulations, capitalize on new business opportunities, and drive efficiency, effectiveness, innovation and virtualization. Learn
how Cognizant’s Banking and Financial services practice helps clients lead with digital at www.cognizant.com/banking-financial-services or follow us
@Cognizant.
ABOUT RED ASSOCIATES
At ReD, we put a deep understanding of real people back at the center of business decision-making. Our teams solve some of today’s hardest prob-
lems. Over the last 10 years, ReD has led a quiet revolution in thinking about business. All of our work begins with an exploration of the customer’s
worlds — using social science tools to understand how people experience their reality and, in turn, offering businesses a “reality check” on what is
meaningful to people. More information can be found at www.redassociates.com.
ABOUT COGNIZANT
Cognizant is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the dig-
ital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquar-
tered in the U.S., Cognizant is ranked 230 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how
Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.