State Bank of India wins Celent’s Model Bank Award 2018 for ‘Operations and Risk’
Global Research Firm recognizes world’s largest consolidation of six banks powered by TCS BaNCS
MUMBAI, May 11, 2018: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, announced that its customer, State Bank of India was selected as a Model Bank winner by Celent, a leading Global Research and Advisory Firm for the financial services industry, as part of its annual and highly coveted Model Bank awards for the year 2018. SBI was chosen for successfully consolidating one bank and five other associate banks onto a single core banking platform and what was noteworthy about this accomplishment was this entire integration was done in six weeks. Averaging one bank a week, these are the banks that were integrated with SBI - Bharatiya Mahila Bank, State Bank of Travancore, State Bank of Mysore, State Bank of Bikaner and Jaipur, State Bank of Patiala and State Bank of Hyderabad.
Commenting on the award Mrutyunjay Mahapatra, DMD & CIO, said, “The IT systems merger program had multiple challenges owing to the aggressive schedule, quantum of data, and breadth of its coverage. Any disruption would have national impact on our operations and customers but Bank’s Operations Team and TCS together orchestrated the entire Life-Cycle of data cleaning, conflict resolution and execution with precision. Above 7000 branches were merged without any break in service. This complex merger within an aggressive timeframe is a testimony to TCS and Bank Teams’ commitment for delivery rigor.”
The scale and scope of the consolidation was huge. Over 43+ IT applications, 17,500+ products, 200 bank business processes, 50+ billion database records with a data size of 25+ TB and 14+ billion of data updates. The merger impact span across 50000+ tellers across 7000+ associate bank branches. TCS prepared a detailed capacity management and benchmarking plan for 750+ million accounts with more than 150 million transactions per day for seamless application processing. TCS scaled up the system to process 2 billion accounts at 18,000+ transactions per second (TPS), thereby delivering assurance to the Bank for a 5 year period.
Ujjwal Mathur, Vice President and Country Head – India Business, TCS, said, ” Extensive use of digital technologies enabled us to accomplish such a monumental task. To orchestrate such a complex transformation while cleaning up data from six banks and run the implementation, had to be led with constant communication to prevent slippages. We congratulate SBI on this historic milestone and prestigious award.”
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. With a global customer base of more than 370 institutions operating in over 80 countries, TCS Financial Solutions delivers state-of-the-art software solutions for the banking, capital markets and insurance industries worldwide. For more information, visit us at http://sites.tcs.com/tcsbancs.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that partners with many of the world’s largest businesses in their transformation journeys. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. 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 394,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $ 19.09 billion for year ended March 31, 2018 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. For more information, visit us at www.tcs.com.
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