Tata Consultancy Services Leading-Edge Core Banking Solution Helps Crypto-Finance and Technology Pioneer Rapidly Launch New Products at Scale and Drive its Future Growth
ZUG | MUMBAI, January 23, 2023: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS) announced that it has helped Bitcoin Suisse AG (BTCS) create a next-generation crypto-financial technology platform, powered by TCS BaNCS™ for Banking, supporting the latter’s journey of becoming a leading global crypto-financial services provider.
BTCS selected TCS BaNCS for its native support for digital assets and Swiss and global market readiness. The secure and scalable cloud-based solution covers all core functions like brokerage, custody, payments for crypto assets, including risk monitoring and supervision capabilities, and ensures continued regulatory compliance in Switzerland.
The solution’s high level of straight-through processing enables faster turnaround times, resulting in further enhanced client experiences. Its best-in-class configurability is helping the company design and quickly launch new products at scale related to staking, vaults, and digital asset lending. TCS BaNCS’ API-based architecture provides BTCS the flexibility to easily integrate and collaborate with trading partners and the wider crypto ecosystems.
Dr Dirk Klee, CEO, Bitcoin Suisse AG, stated, “At Bitcoin Suisse, our priority is to create value for our clients by constantly innovating and exploring new technologies, services, and products. The launch of this state-of-the-art technology platform from TCS BaNCS sets the foundation to further establish Bitcoin Suisse as a leading crypto-financial services provider. With TCS, we have teamed up with a global partner who understands crypto assets and the specific needs of this industry. This unique cooperation allows us to deliver a core part of our business model in a highly scalable and secure fashion – thereby catering especially to our rapidly growing institutional client base.”
“We are delighted to partner with Bitcoin Suisse AG in their growth and transformation journey. The TCS BaNCS solution will provide Bitcoin Suisse AG with the ability to rapidly launch innovative new products and services at scale and differentiate itself in the marketplace. With a platform that enables clients to access both digital and traditional assets securely, Bitcoin Suisse is scaling up its core business and strengthening its positioning in key growth segments. This deployment is a testimony to the leading-edge investments we have been making in TCS BaNCS to make our solutions future-ready,” said Venkateshwaran Srinivasan, Global Head, Financial Solutions, TCS.
TCS BaNCS solutions are built on the Digital First, Cloud First philosophy with the outcome being a modern platform in the banking and financial industry in a digital world. The TCS BaNCS solution comprises innovative and adaptive digital apps and a digital core richly enabled for business supporting a wide range of products and services across asset types – assets and liabilities, cash, securities, and crypto assets for a wide variety of use cases in the financial services industry. This solution accelerates the digital transformation of traditional businesses by unshackling them from the constraints of legacy technology and powering the ambition to play into the overall ecosystem powered with a rich catalogue of APIs.
About Bitcoin Suisse
Founded in 2013, Bitcoin Suisse Ltd is the Swiss crypto-finance and technology pioneer and market leader. As an enabler for the crypto and blockchain ecosystem in Switzerland, Bitcoin Suisse has been a driving force in the development of the 'Crypto Valley' and the 'Crypto Nation Switzerland'. The crypto-financial services
provider offers brokerage, custody, lending, staking, payment solutions and other crypto-related services for private and institutional clients. As a member of the self-regulatory organization Financial Services Standards Association (VQF), Bitcoin Suisse is a financial intermediary subject to Swiss AML/CFT regulations. Bitcoin Suisse consists of several companies under the parent company BTCS Holding Ltd. The company is headquartered in Zug and has built a team of over 250 highly qualified experts in Switzerland and Europe. | www.bitcoinsuisse.com
About 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 (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 50 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 613,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, 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 MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com