Global banks or financial institutions are moving towards financial services integration in order to:
- Achieve consolidation (retail/institutional/wholesale) based on component-based architecture
- Support bundled/unbundled products, services and channels as required,
- Provide scalability, and
- Drive distribution opportunities.
While institutions adopt different methods, the fundamental strategy of banks across the world lies in attaining:
- Process efficiency through increased automation and Straight-Through-Processing
- Channel synergy
- Agility through a standardized service-based architecture that facilitates faster integration and quicker time-to-market.
TCS BaNCS - Adaptive, scalable and ‘fit-for-purpose’ technology
What financial institutions need is an integrated financial services solution such as the Universal Financial Services Platform from TCS BaNCS. This universal banking offering enables retail, SMB and wholesale banking functions to attain the desired levels of integration and flexibility across the entire banking process life cycle (origination to servicing).
This universal banking platform encompasses a technology stack built on contemporary J2EE technology and a component-based design. Further, along with the Service Integrator platform from TCS BaNCS, this universal banking solution can be customized to suit specific banking business processes.
To know how the Universal Financial Services Platform from TCS BaNCS can help your organization, write to us at tcs.bancs@tcs.com
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