TCS BaNCS™ Marketplace Launched to Help Financial Services Companies Accelerate Innovation with Partner Ecosystem
Tata Consultancy Services’ Marketplace of Partner Solutions is a Destination for Financial Institutions to Curate Contextual Customer Experiences and Build New Revenue Streams
MUMBAI, October 14, 2021: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced the launch of the enhanced TCS BaNCS™ Marketplace, an innovation hub for customers to collaborate and adopt cutting-edge partner solutions compatible with the TCS BaNCS suite, spanning banking, capital markets, and insurance domains.
Financial institutions are increasingly partnering with TCS to accelerate their innovation and to leverage a larger co-innovation ecosystem curated by TCS. The TCS BaNCS Marketplace offers them a rich ecosystem of solutions and APIs from fintechs, insurtechs, risktechs, regtechs and other innovators.
Customers can collaborate and experiment with these partners in a secure and trusted sandbox environment, to co-innovate and rapidly prototype solutions that enhance end-customer experience, and enable new value-added services and revenue streams. They can also select pre-packaged and curated solutions to accelerate their responses to evolving market needs.
For partners the Marketplace offers access to TCS BaNCS’ large installed base across the world and an opportunity to expand into newer markets. More than 100 partners are already part of the TCS BaNCS Marketplace. Of these, 50% are in different stages of monetization and 25% of the partner solutions have already been deployed at customer organizations.
To be hosted on the Marketplace, partners go through a process of curation to determine their strategic relevance to customers and complementarity with the TCS BaNCS product roadmap.
R Vivekanand, Co-Head, TCS Financial Solutions, said, “TCS BaNCS Marketplace gives our customers a place to collaborate and innovate with our curated set of partners in a secure, trusted environment, and deliver fresh experiences to their customers. The solutions on the Marketplace have evolved with the product direction of TCS BaNCS and the market, and its API-first approach not only facilitates easy and secure integration with multiple ecosystems, but also creates new business models and possibilities for our customers.”
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. The TCS BaNCS universal financial solution is designed to help financial services institutions enhance end customer experience, enabling them to embrace open and innovative technologies that embody true digital customer engagement. Deployed at more than 450installations worldwide, it is the largest collection of components, enterprise and consumer apps for the financial industry made available through the cloud, helping firms become more agile and intelligent by leveraging the power of new and extended ecosystems.
To know more about TCS BaNCS, please visit: www.tcs.com/bancs
About Tata Consultancy Services (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 528,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com.
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