Cognizant signed a new 10-year services agreement with CoreLogic valued at $1 billion, the Teaneck-based information technology, consulting and business process service provider said Jan. 26.
The two companies have worked together for more than a decade, with Cognizant providing capabilities in application development and support, analytical modeling, and domain-centric business process services to CoreLogic and its customers, primarily in the U.S. mortgage and real estate markets. Under the new agreement, Cognizant will focus on driving customer experience improvement and cutting CoreLogic’s technology and operations costs.
“Cognizant has been an invaluable partner for many years in helping build our platforms–giving clients the data-driven technology solutions they need to navigate business processes,” Abe Kuruvilla, CoreLogic’s chief information officer, said in a statement. “We are pleased to extend our relationship with Cognizant as we continue to leverage our many years of technology expertise and integrated digital solutions.”
Based in Irvine, Calif., CoreLogic is a global property information, analytics and data-enabled solutions provider. The company’s combined data from public, contributory and proprietary sources include over 4.5 billion records covering more than a half century, providing detailed coverage of property, mortgages and other encumbrances, consumer credit, tenancy, location, hazard risk and related performance information.
“We are thrilled to grow our relationship with CoreLogic and bring our technology prowess to bear in improving their user experience, digital tools, and processes utilized by professionals in their property information ecosystem,” said Cognizant President of the Americas Surya Gummadi. “Real estate, mortgage lifecycle, and insurance transactions depend on accurate, timely data and analytics. We are committed to helping CoreLogic provide this critical intelligence to clients while enhancing their user experience and further streamlining operating efficiency.”
Earlier in January, Cognizant announced that Ravi Kumar S would take over as CEO and join its board, effective immediately. Kumar succeeded Brian Humphries, who is staying on as a special advisor until March 15. Humphries had led the company since April 2019. At the same time, the company said Stephen Rohleder, a director since March 2022, will serve as the board’s chair. Former Chair Michael Patsalos-Fox will remain on the board as an independent director.i