Intuitive and Easy-to-use Self-service Features Enabled by Tata Consultancy Services’ Digital Platform, Have Led to High Customer Adoption of the Bank’s Apps
TEL AVIV | MUMBAI, May 6, 2019: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, announced that Bank Yahav in Israel has successfully deployed the TCS BaNCS Digital Platform for Banking and Trading to deliver a consistently superior customer experience across channels.
The omni-channel experience enabled by TCS BaNCS Digital positions Bank Yahav as a market leader in customer engagement and experience. The rollout of this brand new digital experience layer follows the end-to-end core system transformation that the bank undertook earlier, with the TCS BaNCS Banking and Securities platforms.
“We have had a long and successful partnership with TCS. We were among the first banks in Israel to successfully deploy a core banking solution from an international vendor and now, with the adoption of TCS BaNCS Digital for Banking and Trading, we have firmed up our standing in the region as a leader in customer experience,” said Gadi Davidiyan, CIO, Bank Yahav. “A significant portion of our client base has embraced the mobile apps. We have witnessed more than three million logins in the first quarter since going live. With a comprehensive suite of self-service options that are intuitive and easy to use, our customer adoption of the apps is increasing every month. As a result, our branch staff can focus on value-added services and sales, while the number of queries to our call center has also reduced substantially.”
Venkateshwaran Srinivasan, Head, TCS Financial Solutions, said, “Customer experience is at the heart of the Business 4.0TM economy, and TCS BaNCS is empowering financial institutions to get closer to their customers and build resilient relationships. In 2017, Bank Yahav became operational on our core banking and securities platform, which has served as a solid foundation for subsequent digitalization. With the successful deployment of TCS BaNCS Digital for Banking and Trading, the bank can now deliver a seamless experience as well as a consistent brand image across all customer touch points.”
TCS BaNCS Digital is an enterprise-wide solution built on a hybrid platform on a single code base, allowing for silent upgrades. A unique capability of the solution is that it allows the end customer to switch between banking and trading apps seamlessly without the need for additional authentication. Its remote check deposit facility, wherein customers can digitally deposit and process up to 20 checks at a time, is an example of the customer convenience afforded by the solution.
The mobile application, besides being compliant with WCAG 2.0 AA standards, is reinforced with security features such as binary protection, secure APIs, anti-tampering, and tap jacking. Users can stream quotes in real time in addition to information such as market watch, account, portfolio and order status, trade book views, and top gainers/losers status through intuitive and easy-to-use dashboards.
About Bank Yahav
Bank Yahav was established in 1954 and specializes in providing financial services to the retail sector: households, and employees from all sectors. We offer our customers banking services under attractive and unique conditions in the banking system, including: current accounts, investments, credit, foreign currency and more. The Bank's branches are spread throughout the country, from Nahariya to Eilat, in residential neighborhoods, in government kiosks and in the workplaces of the Bank's customers. The Bank is held by Mizrahi-Tefahot Bank Ltd. (50%) and by the Company for Economic and Cultural Works for State Employees Ltd. (50%), which belongs to the Histadrut and the State of Israel in equal parts.
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: 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 424,000 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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