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BaNCS Industry Network

 

Background

The BaNCS Industry Network has been conceived as a strategic solution for TCS BaNCS customers worldwide, to explore and embrace Blockchain technology effectively, and to collaborate with other TCS BaNCS customers for bilateral transactions, thereby opening up access to new markets/customer segments, and new services. It facilitates the setting up of complete ecosystems on blockchain technology that can enable real-time and efficient transaction processing eliminating the need for intermediaries.

The BaNCS Industry Network model

The BaNCS Industry Network comprises a private, permissioned Blockchain ecosystem over which participating TCS BaNCS customers (Banks, Custodians, CSDs, Insurance firms) are able to seamlessly connect to and access information and services from a single ledger. It can bring together various organizations in an ecosystem model, allowing all of them to access authentic data on a real time basis from the blockchain. It comes with a set of Business Ready, and “Designed for Blockchain” Smart solutions:

  • Corporate announcements dissemination
  • Reference data publishing
  • Settlements
  • Claims processing

Business Benefits

  • Facilitates experimentation and piloting of new business processes amongst a closed user group of organizations
  • Provides an opportunity for service expansion into new markets, in collaboration with local entities that are part of the BaNCS Industry Network
  • Facilitates instant access to accurate, immutable data on the blockchain
  • Eliminates reconciliation issues as a result of real-time access to information from the ledger

Watch the Video - BaNCS Industry Network - Enabling collaboration and delivering exponential value leveraging Blockchain technology

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