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TCS BaNCS Newsletter Issue 15


When TCS formed “TCS Financial Solutions” in April 2007, we had a minimal presence in the financial services marketplace. Today, TCS Financial Solutions has earned its well deserved reputation as a vital and vibrant industry presence and a global financial solutions powerhouse supporting financial institutions of every size and scale through a single, FSI-domain-specific organization. 

To commemorate and celebrate TCS BaNCS’ fifth anniversary, we present our largest-ever issue of the TCS BaNCS customer newsletter, featuring both exciting new case studies and five-year indexes for the previous case studies in each of our industry domains: banking, capital markets and insurance.

N Ganapathy Subramanaiam describes the early days of TCS BaNCS and anticipates the next five years. He also discusses his perspective on the “market today” and the “buy v/s build” question. He explains how TCS has an extremely strong position in the fastest-growing emerging markets and a long track record of growth and success in the developed nations.

N Chandrasekaran, CEO & MD, TCS, describes the formation of TCS BaNCS and the way forward.

The main stories in this newsletter include the following:

  • c-Edge: Everywhere Banking: Maharashtra Gramin Bank draws upon a powerful ASP solution based on TCS BaNCS to provide comprehensive banking services to customers in India’s rural regions. The bank entered the mainstream of Indian banking with this turnkey cloud-based banking solution powered by TCS BaNCS.

  • brokerjet: Beyond Borders: Online brokerage from brokerjet subsidiary of Austria’s Erste Group expands into Central and Eastern Europe with TCS BaNCS. TCS BaNCS provides brokerjet with the foundation for a growth-driven business model at a competitive cost structure, in a way that allows brokerjet to control its own destiny.

  • Phoenix Life: Transformation Achieved: Multistage migration of life insurance portfolios acquired over decades leads to a highly efficient platform for low-cost operations and high-opportunity prospects for growth.

  • Friends Life: The 15-year Deal: Life insurer transforms the UK marketplace with comprehensive BPO, IT outsourcing and IT facilities management deal with TCS BaNCS at the core. Per-policy pricing helps the life insurer ensure competitive advantages.

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c-Edge: Everywhere Banking

Business Challenge: There was a need for high-quality, mainstream banking services through an extensive network of remote rural bank branches without the need for high expenditures in technology and IT staffing. The bank needed a low-cost core banking solution with no incremental expenses for customization and new reports, yet having a full complement of services for customers, high reliability for branch managers, and easy access to audits and reports for regulators and risk managers.

Solution: Outsourced ASP service through c-Edge, including IT services, business process outsourcing and core banking technology powered by TCS BaNCS

Why TCS BaNCS: As a core banking solution implemented around the world, TCS BaNCS fully meets the criteria of being a proven core banking solution from a trusted entity. Furthermore, TCS BaNCS has demonstrated success at rural banks. Thirty-five percent of rural bank branches in India operate on TCS BaNCS, representing over two million transactions per day for 50 Indian banks with a combined 5,800 branches, 58 million customers and 28,000 business users. In addition, TCS BaNCS is the unified technology platform of State Bank of India, which services over 261 million customer accounts with a banking network of over 18,400 branches and 21,800 ATMs.

Client Speak: “The core banking solution implemented by c-Edge has facilitated operational efficiency of our organization by improving housekeeping, preventing income seepages, strengthening our Management Information System (MIS) capabilities and facilitating better corporate governance.”
- Maharashtra Gramin Bank, Nanded, Sharadchandra Chitale, Chief General Manager

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brokerjet: Beyond Borders

Business Challenge: To support geographic expansion, product-line extensions, higher STP and improved performance for brokerjet online brokerage

Securities Trading and Core banking Solution: The flexible TCS BaNCS architecture makes it possible to capture complex business rules through parameters instead of code, which eliminates the need for programmers to make changes in business rules while also making the solution easily upgradable as new features are developed.

Benefits: Following the successful launch of TCS BaNCS, brokerjet quickly started operations in Poland in December 2011, with widespread PR and marketing in the country beginning in March 2012. The expansion into Poland demonstrates how the multi-entity capabilities of TCS BaNCS allowed brokerjet to quickly move into new markets.

Client Speak: “With TCS BaNCS, we have now implemented our business model for multiple entities with sub-entities, while maintaining total segregation of client and broker funds within those entities.”
- brokerjet, Alexandra Holub, Head of Business Analysis and Integration

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Phoenix Life: Transformation Achieved

Business Challenge: To move from a complex assortment of legacy solutions managed in-house to a single outsourced BPO provider capable of delivering long-term, per-policy cost certainty

Solution: TCS and Diligenta built an entire UK insurance ecosystem with TCS BaNCS at the heart of it, and then wrapped around that numerous strategic applications that made up the whole of the solution. The TCS BaNCS ecosystem includes document management systems, image management systems, world-class financials and channel applications, and it encompasses all of their customers and policies.

Client Speak: “We didn’t just adopt an IT solution. We adopted a full, best-practice suite of IT and business processes and services delivered to a high standard, all in a fixed-priced transformation.”
- , Phoenix Life Group, Graham Felston, Head of Diligenta Transformation

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Friends Life

Business Challenge: To migrate expensive-to-run legacy systems onto a single platform offering per-policy reduction in costs over time

Solution: Comprehensive 15-year business transformation, BPO and IT outsourcing deal with TCS’ BPO subsidiary, Diligenta, powered by TCS BaNCS. In the first phase of the migration, approximately 1,900 employees of Friends Life were seamlessly brought over to Diligenta in March 2012.

The next phase, scheduled through September 2013, will involve transferring data involving about 3.2 million policies and associated customers onto TCS BaNCS.

The final phase of the migration encompasses the complete replacement of all three legacy solutions along with hundreds of connected applications built or acquired by Friends Life. Friends Life is scheduled to complete the entire migration to TCS BaNCS by 2015.

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