Banking Service Bureau (BSB) is a Banking as a Service platform enabled by TCS BaNCS, offers large banks/FIs and small niche digital firms with an end-to-End Banking Solution for a complete overhaul of their core technology platform.
Large banks/FIs are unable to make changes to their legacy technology landscape due to huge investment needs resulting in steep decline in their market share allowing new entrants taking up the younger customer segments. The Banking Service Bureau from TCS BaNCS alleviates this risk significantly.
Tata Consultancy Services’ Market-Ready Digital Banking Platform to Help the Organization Design and Launch Innovative Financial Services at Speed
The Banking Service Bureau is a banking-as-a-service platform enabled by TCS BaNCS with a digital and Israel-ready core offering for banking, securities, and advisory services. Application programming interfaces (APIs) from TCS BaNCS will enable the creation of a custom and differentiated digital front-end. The platform is fully compliant to local regulation, integrated with the financial ecosystem in Israel, and runs on a private cloud with shared services support.
For a start-up bank or a financial institution: Offers rapid time-to-market and lowers entry barriers with a market-ready digital platform
For a well-established financial institution: Offers componentized solutions, ranging from digital lending, customer on-boarding, payments, anti-money laundering and securities, on a subscription model
For a well-established player in a non-financial industry: Offers innovative financial services to your customers as a differentiator
Ofek has been involved in Israel’s financial services reform for more than a decade. Our co-operative society set forth on a journey when banking needs in the country were transforming, and recently we have received a formal license to operate in this space. By selecting TCS’ Banking Services Bureau, we are getting closer to realizing our vision of offering innovative digital financial services in the country.
Low entry barrier for new entities to get on-boarded
Quick and agile implementation approach allowing banks to proceed with a soft launch
Comprehensive regulation support ensuring full compliance
Vendor management is fully handled by TCS, allowing your bank to focus on core business functions
Componentized model catering to various business models such as digital lending, e-KYC, or digital bank guarantees, facilitating innovation