Tata Consultancy Services will Provide a Dedicated Command Center of Operations for BankID BankAxept to Improve Resilience of Norway’s Critical National Financial Systems
OSLO | MUMBAI, September 20, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) has entered a strategic partnership with BankID BankAxept AS, Norway’s national payment and electronic identity systems, to set up and manage an operations command center that will enhance the resilience, security and availability of the country’s important financial infrastructure.
BankAxept is the national payment system in Norway, with 80% of card payments made using a BankAxept card. BankID is the Norwegian eID verification solution, with more than 90% of the country’s population, banks, public institutions and commercial enterprises dependent on it. New regulations around digital identity authentication require BankID to offer users a compliant, reliable and secure electronic identity solution and ‘round the clock’ support.
BankID BankAxept AS chose TCS to create a new command center, for its proven experience in leading large-scale growth and transformation projects for enterprise clients in the banking and financial services sector. As part of the agreement, TCS will build and manage a 24x7 operations command center at Oslo, Norway, for all BankID BankAxept AS users and clients. The new command center will enable immediate responses to any service disruption, security issues, or client requests that are related to Norway’s essential national payments and electronic identity verification systems.
TCS will operate a dedicated monitoring framework at the new command center that can predict, react and prevent any issue in the value chain from impacting the wider financial services ecosystem. The framework will feature a mechanism that efficiently shares communications data with a team of experts and vendors so they can quickly identify the root cause of the problem and collaborate to resolve any issues. The command center has the capabilities to manage teams and vendors, helping to quickly resolve all disruptions, urgent security alerts or events, and can integrate value-added services from partner ecosystems.
Øyvind Westby Brekke, CEO, BankID BankAxept AS, commented: “BankID is currently used by 4.4 million users across Norway, and BankAxept handles approximately 8 out of 10 in-store payments. Any downtime of these systems will have a severe impact on the country’s public institutions, businesses and citizens. We turned to TCS as a trusted technology partner to build a mission critical command center that will quickly help us resolve any technical issues or disruption to services, and this will ensure the resilience and reliability of Norway’s vital financial services infrastructure.”
“We are pleased to partner with BankID BankAxept AS in their mission to enable seamless financial transactions across the nationwide ecosystem and to foster innovation. Our operations command center will enhance the security, reliability, and resilience of the national payments and electronic identification infrastructure that underpins Norway’s banking and financial services ecosystem, while supporting new innovative services from ecosystem partners,” said Hemakiran Gupta, Head, Banking, Financial Services & Insurance – Continental Europe, TCS. “This latest partnership in Scandinavia adds to the long list of nationally significant market infrastructure institutions across the world who view TCS as a preferred partner in their growth and transformation initiatives.”
For further information, please visit: https://www.tcs.com/what-we-do/industries/banking
ABOUT TATA CONSULTANCY SERVICES (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 55 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions 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 614,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $27.9 billion in the fiscal year ended March 31, 2023, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com
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