Leading the way in innovation for over 55 years, we build greater futures for businesses across multiple industries and 55 countries.
Our expert, committed team put our shared beliefs into action – every day. Together, we combine innovation and collective knowledge to create the extraordinary.
We share news, insights, analysis and research – tailored to your unique interests – to help you deepen your knowledge and impact.
At TCS, we believe exceptional work begins with hiring, celebrating and nurturing the best people — from all walks of life.
Get access to a catalog of the latest news stories from across TCS. Discover our press releases, reports, and company announcements.
white paper
Jerry Silva
IDC
You have these already downloaded
We have sent you a copy of the report to your email again.
Open Banking is set to revolutionize the banking, financial services and insurance (BFSI) industry. Though not mandatory in North America (NA) and Latin America (LATAM), some banks are embracing open banking given its ability to deliver competitive advantage, drive innovation, and monetize data. According to this IDC research report, adopting the Open Banking standard will require banks in NA and LATAM to modernize their IT infrastructure to facilitate interoperability, incorporate API frameworks to connect with banks’ systems, and move toward a micro-service architecture that allows access to specific functionalities within the existing complex legacy applications.
In our view, to successfully transition to the Open Banking system, banks must adopt the C3 strategy:
Data mesh for innovation and growth in BFSI
Revolutionizing banking with GenAI
TCS Response AI for faster and automated email response
ESG in KYC Processing for Effective Risk Management