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Industry

CHALLENGE

The growing popularity of online and mobile banking is challenging traditional payment methods. This has pushed the banks to digitalize trade and adopt supply chain finance products. Additionally, robust credit evaluation and underwriting processes are needed for a healthy loan book. All this, coupled with the entry of non-banking players, is prompting banks to reduce operational costs by streamlining, transforming, and consolidating processes.

TCS SOLUTION

TCS provides:

  • Transaction processing: Support for payments and cash management, trade finance, and commercial lending; a vast range of solutions for origination, servicing, customer service, compliance, billing, reporting, and reconciliation
  • Domain consulting: Process evaluation and benchmarking, operational efficiency assessment, to-be process maps, transformation opportunity consulting, and digital roadmap creation
  • Change management: Support for IT platform roll-outs, business and/or functional requirement documentation, business analysis, UAT services, project management, and enterprise services
  • Cognitive solutions: TraDAA© and Integrated Commercial Lending Automation Digitization and Analytics solutions, optical character recognition (OCR), automated document checker, automated sanctions 

BENEFITS

TCS’ commercial banking solutions and services can help banking and financial firms realize the following benefits:

Payments

  • About 30% to 40% reduction in repair rates by reducing manual efforts
  • Cost optimization through automation and enhancement of existing investigation workflows

Trade

  • Up to 40% cost savings through process reengineering and automation
  • Mitigation of fraud and sanction risks by implementation of robust controls

Lending

  • Enhanced process efficiency and scalability as well as improved accuracy
  • Nearly 150 MM+ reduction in risk exposure through process improvements

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