CEB TowerGroup Analysts View - TCS BaNCS for Payments
TCS BaNCS for Payments offers banks the flexibility to integrate with existing and new/upcoming market infrastructure and manage multiple payment formats. This payment hub solution focuses on re-routing and standardizing payments to help improve a bank’s efficiency and workflows.
TCS BaNCS for Payments enables financial institutions to perform customer-to-bank and bank-to-bank for both domestic and international payment operations. This solution can be delivered as an integrated banking platform or as a standalone solution with integration into the bank’s system of record and core banking applications. The solution can standardize payments from external systems and formats (e.g., RTGS, ACH, real-time, clearing, Giro, SWIFT) and support multiple products (e.g., credit transfers, direct debit, and checks) on a single platform. The solution is built on ISO20022 standard and has live customers using ISO20022 processing and clearing.
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