Tata Consultancy Services (TCS) announced on Tuesday its collaboration with a US-based Central Bank to modernize its core technology infrastructure. This strategic partnership aims to create seamless customer onboarding processes, facilitating the bank’s growth trajectory.

The US-based Central Bank, overseeing assets exceeding $20 billion across multiple states, has embarked on this transformational journey to enhance operational efficiency and elevate customer experiences.

By deploying TCS BaNCS, the bank underscores its commitment to embracing advanced technology solutions to streamline operations and meet evolving customer expectations. TCS BaNCS’ robust API ecosystem will foster connectivity across applications, enabling a more agile and responsive banking environment.

The integration of TCS BaNCS for Payments, an ISO 20022-ready solution, will empower the bank to offer cutting-edge payment services such as FedNow® and RTP® by the clearing house. This initiative aligns with the bank’s vision to stay at the forefront of digital innovation in the banking sector.

John Ross, President and CEO of Central Bank, emphasized the importance of choosing a trusted partner for this crucial modernization endeavor. TCS, with its proven track record and innovative product suite, emerged as the natural choice for Central Bank’s long-term digital strategy.

The implementation of TCS BaNCS will revolutionize Central Bank’s account opening processes, driving efficiency gains and providing real-time insights into customer relationships. This agile solution will enable Central Bank to swiftly adapt to changing customer needs and deliver tailored products and services.

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, expressed delight in partnering with Central Bank on its digital transformation journey. TCS’ extensive expertise in the financial services sector, coupled with its commitment to innovation, positions it as the preferred partner for institutions seeking to drive digital innovation at scale.

As Central Bank embarks on this digital transformation initiative, it aims to leverage technology to create a seamless banking experience for its customers while unlocking operational efficiencies and driving sustainable growth.

By : Kruthiga V S

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