Responding to the Covid-19 crisis, TCS enabled all employees to work on behalf of TCS clients remotely. Our customers in banking, capital markets, and insurance have responded to the Covid-19 crisis with operational excellence, innovative thinking, and exceptional customer service. Few of our customers proceeded with critical go-lives in the amidst of the crisis.
- TCS BaNCS teams, powered by our Secure Borderless Workspaces initiative, are now helping US Banking Clients during these uncertain times. Our US customers are ready with changes needed to implement SBA directives with respect to the Paycheck Protection Program and Loan Moratoriums by leveraging TCS BaNCS APIs and the product's easy configurability. Our teams continue to work closely with customers to deliver mission critical changes, which are being brought in by regulators across the globe in response to the ongoing situation.
- The Covid19 crisis has seen unprecedented volatility in the capital markets worldwide, leading to record volumes and spikes. TCS BaNCS is the primary system for many of the leading Market Infrastructure organisations globally, and we have been working closely with our customers to manage this environment successfully. We are proud of the way our teams have risen to the challenge of supporting growth ranging from 50% to 200%, and in keeping these markets running smoothly. Markets, after all, are a key indicator of national sentiments, and we are proud of the role we play in this mission critical service.
- In the last few weeks, TCS BaNCS has been supporting Indian brokerage clients to mitigate risks from extreme market volatility and surge in volumes (2.5 times) by quickly delivering changes and reconfiguring risk parameters. Retail brokers in India, for the first time, have been able to ensure smooth work-from-home operations during the Covid-19 crisis for dealers due to the high security features of TCS BaNCS for Securities Trading. In addition to user-friendly digital capabilities, TCS BaNCS has supported Indian brokerage clients by putting into action risk management controls hitherto unused to manage the extreme surge in volumes and volatility during these uncertain times.
- TCS BaNCS, powered by the rapid implementation of TCS’ Secure Borderless Workspaces’, was able to deliver a new health product, “Arogya Sanjeevani”, a standard health insurance product mandated by the IRDAI in India, amidst the Covid-19 situation. Some public initiatives just cannot wait, and TCS BaNCS is available round the clock to facilitate this for our customers.
- TCS BaNCS teams worked with a leading market player in the insurance space in Bahrain and went live successfully with TCS BaNCS for Insurance, right in the middle of the uncertain COVID-19 scenario in April 2020. This was achieved with close collaboration and detailed planning between the customer and TCS BaNCS teams, the rapid implementation of TCS’ Secure Borderless Workspaces, and the spirit of addressing challenges head-on to ensure that the date was met. Our customer selected TCS BaNCS to unify their existing core insurance products and IT landscape onto a single solution.
- One of TCS BaNCS' customers, a leading Bank in South Asia, needed pressing changes to be made to its loans portfolio as part of the relief that the government was offering to the country's citizens during the pandemic. TCS BaNCS' teams worked against aggressive timelines, provisioning for repayment holidays, temporarily suspending the tracking of non-performing assets, launching new loan products, and generating reports for regulatory compliance for the Bank. They were able to empower the Bank to deliver on its national responsibility, thanks to the configurability of the product and the capability to work remotely in a collaborative manner.