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    TCS is here to make a difference through technology.

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      15 May 2025 TCS Recognized as One of the World’s Top 50 Brands by Kantar BrandZ; Brand Value Soars 28% YoY to $57.3Bn
      14 May 2025 TCS Partners with Khan Bank to Future-Proof its Operations, Enhance Customer Experience and Propel Innovation leveraging AI and ML
      12 May 2025 TCS Partners with Dhofar Insurance Company to Transform its Core Insurance Platform
      View all
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      11 Apr 2025 TCS Partners with Google Cloud to Accelerate AI-led Transformation in the Retail Sector
      View all
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      16 May 2025 TCS Recognized as a Leader in Custom Application Development Services by Everest Group
      16 May 2025 TCS Named a Leader in Application Management Services by Everest Group
      22 Apr 2025 TCS Ranked #6 Amongst Banking Technology Providers and Recognized as a Regional Leader across all Geographies by Everest Group
      View all
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    • Press Release

    Länsförsäkringar Bank Wins Award for Core Transformation Powered by TCS BaNCS™

     

    Share Länsförsäkringar Bank Wins Award for Core Transformation Powered by TCS BaNCS™
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    Adopting Tata Consultancy Services’ Platform as its Digital Core Won the Bank Recognition from Global Financial Services Research and Advisory Firm

    Stockholm | Mumbai, April 20, 2020: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that its customer and one of Sweden's largest banks, Länsförsäkringar Bank has won the 2020 Celent Model Bank Award for Core Technology Replatforming, for its successful core transformation powered by the TCS BaNCS™ Global Banking Platform.

    Länsförsäkringar Bank sought to transform its legacy technology stack and adopt a modern banking and payments platform that would enable participation in new digital banking opportunities and faster product launches. It selected TCS as its growth and transformation partner and successfully deployed the TCS BaNCS Global Banking Platform in April 2019. This entailed a complex data migration, integration with other applications in the Bank’s IT landscape and extensive change management.

    The new solution transformed Länsförsäkringar Bank’s operations and IT landscape. It supports the entire Swedish retail banking portfolio and payments infrastructure, including integration with Bankgirot (Autogiro, DataClearing, Giro), real-time payments (SWISH), Privatgirot, PlusGiro and Riksbank. TCS also set up an API gateway for PSD2 and Open Banking compliance to enable participation in the larger ecosystem.

    The modern core banking platform has helped the Bank improve data quality, enhance cyber security, and smoothly handle monthly peaks in concurrent payment transactions. The new platform has also streamlined loan processing, enabled smoother payments reconciliations, and supported regulatory compliance.  TCS BaNCS enables flexibility in customer services and product pricing and will help Länsförsäkringar Bank launch new and innovative products faster.

    Venkateshwaran Srinivasan, Head, TCS Financial Solutions, said, “We congratulate Länsförsäkringar Bank on this recognition from Celent and celebrate the partnership, which contributed to this outcome. TCS BaNCS is now powering the full range of products for the Bank and has made them available to their end customers through new digital experiences. We are also glad to see the Bank leveraging TCS BaNCS to harness the power of ecosystems to deliver differentiated offerings to its customers, an idea that is at the heart of TCS’ Business 4.0™ vision.”

    According to Craig Focardi, Senior Analyst, Celent, “The Model Bank Awards recognize financial institutions that are using technology to change the face of banking. These banks serve as an inspiration to others looking for strong examples of best practice implementations that have a truly meaningful impact on business results and the industry overall. The entry from Länsförsäkringar Bank clearly demonstrates this. It modernized its core banking system and payments platform to continue improving on its digital banking innovation, prepare for and take advantage of digital payments modernization in the EU and Nordic markets, and create rapid time to market competitive advantage for new product and service introductions.”

    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 universal financial solution 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

    TCS media contacts

    Corporate Communications & India

    corporate.communications@tcs.com

    saxena.kritika@tcs.com

    +91 22 6778 9999

    kimberly.solomon@tcs.com

    +91 22 67789098

    Asia Pacific

    y.tham@tcs.com

    +65 9720 9005

    Canada

    tiffany.fisher@tcs.com

    +1 416 456 7650

    Latin America

    alma.leal@tcs.com

    +521 55 2095 6098

    Australia and New Zealand

    kelly.ryan@tcs.com

    +61 422 989 682

    Europe

    roland.bagen@tcs.com

    +46 70 3178024

    Japan

    douglas.foote@tcs.com

    +81 80 2115 0989

    Middle East & Africa

    pragya.priyadarshini@tcs.com

    +971 528656700

    UK

    priyanka.mehta@tcs.com

    +44 7921493382

    USA

    james.sciales@tcs.com

    +1 917 981 7651

    In the News

    1/4
    Press Releases

    TCS Recognized as One of the World’s Top 50 Brands by Kantar BrandZ; Brand Value Soars 28% YoY to $57.3Bn

    Press Releases | 15 May 2025   Opens in new tab
    2/4
    Press Releases

    TCS Partners with Khan Bank to Future-Proof its Operations, Enhance Customer Experience and Propel Innovation leveraging AI and ML

    Press Releases | 14 May 2025   Opens in new tab
    3/4
    Press Releases

    TCS Partners with Dhofar Insurance Company to Transform its Core Insurance Platform

    Press Releases | 12 May 2025   Opens in new tab
    4/4

    Jazeera Airways Partners with Tata Consultancy Services to Power AI-led Transformation, Reimagine Digital Customer Experience

    News Alert | 05 May 2025   Opens in new tab

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