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Product

TCS BaNCS for Payments

Extensive end-to-end multi-product payment processing capabilities

 

Challenge

The constantly evolving payments ecosystem is rife with rapid changes in market dynamics, ever-evolving regulatory measures, and mounting customer expectations. To thrive in a changing market environment that witnesses a new player (fintech) gaining prominence in the payments space almost on a daily basis, it is necessary that financial institutions and payments providers upgrade their infrastructure and launch innovative products with an effective cost structure. Customer expectations make it increasingly more critical for organizations to differentiate themselves by launching such products and swiftly expanding to meet the demands of their clients.

Solution

With a track record of processing international payments in 25 countries and supporting over 40 clearing systems, and with several features natively built on ISO20022 standards, . Supporting direct debits, domestic, cross-border payments and cheques processing, it is a comprehensive solution that makes use of API driven capabilities, and aims to support stronger management of risks and aid in the seamless integration of applications.

Benefits

  • Built on a modern scalable architecture with component based design that seamlessly integrates with new ecosystems through well-defined APIs and a variety of online and offline channels
  • Comprehensive support for traditional products like credit transfers, direct debits and cheques alongside newer offerings like real-time and blockchain based payments
  • Seamlessly integrates with a variety of online and offline channels. The processing of the payment is decoupled from the format in which it is acquired
  • Leveraging extensive market and internal reference data, the solution is proven to have enabled STP rates near or above 99%.
  • Off-the-shelf availability of real-time dashboards, easy navigation, exception management queues, multiple repair modes and extensive search & audit features
  • Implemented across the world, TCS BaNCS agile based implementation methodology enables faster ROI
  • Continuous and ongoing compliance with evolving regulations

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