TCS BaNCS Customer Newsletter 32
The 32nd issue of the TCS BaNCS Customer Newsletter features stories from South Africa, Bahrain, the United States, Indonesia, the Nordics, Saudi Arabia, and Israel.
Over the past few years, we have transitioned TCS BaNCS to a Digital First, Cloud First approach, fostering greater agility, scalability, and automation for our clients. Before 2020, financial services firms strived to achieve a balance between the digital and physical worlds but mostly skewed towards the latter. Now, these organizations have changed gears and are actively working on minimizing in-person contact or sharing screens by deploying digital apps, payments, and video banking. Our capabilities within TCS BaNCS are well-positioned to support our clients in implementing the aforementioned, much-needed measures.
The newsletter features:
- Strate Pty Ltd, the Central Securities Depository (CSD) deployed the TCS BaNCS for Market Infrastructure for the electronic settlement of financial instruments in South Africa, across five exchanges. The implementation covers all markets and asset classes and marks a significant transformation in the South African securities market.
- Continental Bank, a privately owned commercial bank headquartered in Salt Lake City, Utah selected TCS BaNCS Cloud for Banking to unify its offerings, integrate lease applications, and offer its small and medium business customers a superior banking experience. The solution will help the bank quickly create and launch new products and connect with preferred partners in the larger banking and fintech ecosystem.
- Banque Saudi Fransi (BSF) selected TCS BaNCS Global Banking Platform to provide seamless and contextual customer experiences with a digital core. The new platform will be deployed across BSF’s corporate and retail banking groups, Islamic Banking and payments, and will ensure full compliance to SAMA guidelines.
- Sweden’s Länsförsäkringar Bank won the 2020 Celent Model Bank Award for Core Technology Replatforming, for its successful core transformation powered by the TCS BaNCS Global Banking Platform.
- Standard Chartered Bank Indonesia: In 2018, the Indonesian Financial Services Authority ruled that all financial institutions, including custodians and sub-custodians, would be required to host their IT infrastructure within the country. To comply with the new regulations, Standard Chartered Bank Indonesia made the strategic decision to switch onto the TCS BaNCS solution used by Standard Chartered globally and deployed new IT infrastructure.
- Solidarity Bahrain: In 2020, Solidarity Bahrain successfully replaced its legacy core insurance solutions with TCS BaNCS for Insurance. Following an extensive vendor selection exercise, Solidarity Bahrain selected TCS as the most suitable option in terms of technical ability, value-added features, and commercial presence in the marketplace. The deployment was completed in just eight months, owing to the close cooperation between TCS and Solidarity Bahrain resources.
- Bahrain National Holding: BNH commenced with a project to unify all its core insurance solutions onto TCS BaNCS, end-to-end across business lines, including underwriting, claims, reinsurance, document management, workflow management, accounting, and other areas. The phased go-live for medical insurance began before pre-covid in January 2020 and the largest milestone was planned for April 2020 with the transition of motor insurance. The deployment of TCS BaNCS across the organization has enabled BNH to improve workflow, implement process improvements, and modernize product offerings.
In addition to the magazine format, we've redesigned the newsletter for easy accessibility on mobile phones and tablets