Yahoo Finance Cognizant (CTSH) Launches Fraud Prevention Solution With FICO
Cognizant Technology Solutions CTSH expansion into the realm of financial technology is gaining momentum, driven by an expanding partner base. It has recently teamed up with Fair Issac FICO to introduce a cloud-based real-time payment fraud prevention solution powered by FICO Falcon Fraud Manager.
The latest solution leverages the power of AI and machine learning (ML) technologies from Cognizant and FICO to help banks and payment service providers in North America combat the increasing wave of fraudulent activities in the dynamic landscape of instant digital payments.
By seamlessly integrating with the real-time payment infrastructure, the proposed solution promises swift detection and blocking of fraudulent transactions while also ensuring a secure and frictionless experience for customers.
The cloud-based solutions flexible implementation options, including pay-per-use and licensing models, offer scalability and affordability for banks of all sizes while handling complex compliance requirements and integration tasks, reflecting Cognizant and FICO’s commitment to development and security in the digital payment ecosystem.
Cognizant Technology Solutions Corporation Price and Consensus
Cognizant Technology Solutions Corporation price-consensus-chart | Cognizant Technology Solutions Corporation Quote
Cognizant’s Prospects Rides on Expanding Clientele
Cognizant’s strong partner base, which includes the likes of Shopify SHOP, Alphabet’s GOOGL cloud business, Google Cloud, McCormik & Company, and NVIDIA has been a key catalyst. Its robust pipeline, which includes a favorable mix of new opportunities, is noteworthy.
Cognizant’s partnership with Shopify and Alphabet’s Google Cloud bolstered its presence within the retail industry to drive digital transformation and platform modernization for global retailers and brands, focusing on leveraging the power of Shopify’s commerce platform, Google Cloud’s infrastructure and Cognizant’s retail industry expertise.
Cognizant recently announced a partnership with McCormik & Company to manage global technological infrastructure through AI-driven tools to improve user experiences, productivity and cost savings, thereby advancing McCormick’s digital transformation journey.
In March, Cognizant further expanded its footprint within the healthcare sector through its partnership with NVIDIA.
Cognizant teamed with NVIDIA to apply gen-AI technology to transform drug discovery, aiming to accelerate development, reduce costs and improve patients’ outcomes while expanding into other sectors such as manufacturing and automotive industries.
However, Cognizant’s shares have declined 10.6% against the Zacks Computer & Technology sector’s rise of 7.8% year to date.
The challenging macroeconomic environment, along with weakness in the Financial Services segment, has been a concern for CTSH’s prospects.
This Zacks Rank #4 (Sell) company expects first-quarter 2024 revenues to be between $4.68 billion and $4.76 billion, indicating a decline of 2.7% to 1.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for the first quarter revenues is pegged at $4.72 billion, indicating a year-over-year decline of 1.89%.
The consensus mark for earnings is pegged at $1.11 per share, unchanged in the past 30 days.
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