Cognizant and Flagstar Bank Mark One-Year Partnership with AI Transformation Plans

Cognizant and Flagstar Bank, N.A. marked the first anniversary of their strategic partnership focused on Flagstar’s multi-year technology transformation, announced in a press release. Over the past year, Cognizant has worked alongside Flagstar’s Enterprise Technology & Operations team to modernize infrastructure, streamline operations, and enhance both client and employee experiences.

The collaboration supports Flagstar’s “Simple, Sophisticated” (S2) initiative, which aims to create a modern platform for innovation and data-driven banking. Cognizant has delivered transformation projects across multiple business areas, including commercial, consumer, and private banking, as well as risk and compliance.

Two co-branded development centers have been established in Hyderabad, India, and Manila, Philippines, to support ongoing technology operations. The partnership has also improved process efficiency and reduced costs, contributing to higher customer satisfaction scores.

Looking ahead, the companies plan to explore an AI Center of Excellence in India to strengthen Flagstar’s adoption of artificial intelligence in banking services. They have also extended their collaboration to social outreach initiatives, promoting software education in underserved communities near Hyderabad.