Tata Consultancy Services’ Platform to Leverage the Power of Networks and Enable New and Extended Ecosystems
RIYADH | MUMBAI, February 18, 2020: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that Banque Saudi Fransi (BSF), one of the largest banks in the Kingdom of Saudi Arabia, has selected the 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, as well as payments, and will ensure full compliance to SAMA guidelines.
BSF selected the TCS BaNCS Global Banking Platform as its integrated digital core, for its rich functionality and high-performance architecture. The platform’s flexibility enables speedy launch of new products and services while its high level of automation significantly enhances customer service levels. Designed on a Digital First, Cloud First philosophy, the platform’s Open Banking capabilities complemented by TCS’ blockchain offering, Quartz™, will enable participation in larger ecosystems. Additionally, TCS’ track-record in successfully executing large, complex transformation programs positioned it as a trusted partner for this undertaking.
This latest win adds to the string of successful partnerships that TCS has built with leading financial institutions in the Kingdom, as well as across the rest of the Middle East, over the last two decades.
Thamer Yousef, COO, Banque Saudi Fransi, said, “Our mission is to become the most modern, innovative and experience-focused bank in the region. We believe that our partnership with TCS BaNCS will help us towards meeting the challenges of the future.”
“Progressive banks are seeking to differentiate themselves in a Business 4.0™ world by investing in technology to enable mass personalization and to leverage ecosystems. Our strong product vision and roadmap has made TCS BaNCS the preferred digital core to help them become future-ready,” said Venkateshwaran Srinivasan, Head, TCS Financial Solutions. “We are proud to be selected as the transformation partner by Banque Saudi Fransi and are committed to the success of their journey.”
The TCS BaNCS Global Banking Platform, also available in a SaaS model, is an integrated suite that helps banks and financial institutions offer innovative products and services to customers throughout their life journeys, based on their anticipated requirements and over the devices of their choice. The solution has one of the richest collections of API-enabled components addressing wealth management and retail, corporate and private banking, including digital banking for all segments. It supports a variety of products and services covering assets and liabilities and can fit the business and operating model of a bank with an assured 24x7x365 availability, as evidenced at the 450 sites where it is installed successfully.
About Banque Saudi Fransi
Banque Saudi Fransi is a Saudi Arabian Joint Stock Company, which has been a cornerstone of the Saudi banking sector over its 43-year history. Banque Saudi Fransi is a leading corporate, private and retail bank providing a wide range of investment banking and asset management services and investment funds. Founded in 1977, the bank is headquartered in Riyadh and has a network of 87 branches across the Kingdom of Saudi Arabia. For further information about Banque Saudi Fransi, please visit www.alfransi.com.sa.
About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. The TCS BaNCS Global banking Platform is designed to help financial services institutions enhance end customer experience, enabling them to embrace open and innovative technologies that embody true digital customer engagement. Deployed at more than 450 installations worldwide, it is the largest collection of components enterprise and consumer apps for the financial industry made available through the cloud, helping firms become more agile and intelligent by leveraging the power of new and extended ecosystems.
To know more about TCS BaNCS, please visit: https://www.tcs.com/bancs
About Tata Consultancy Services Ltd. (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 the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This 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 446,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) 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 Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.
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TCS Financial Solutions Media Contacts:
Dennis Roman, Global Head – Products & Platforms Marketing
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Anjana Chandrika – Head, Marketing, Communications and Research, TCS BaNCS
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