Tata Consultancy Services (TCS)

TCS states that the customer is the data subject and the owner of the data, while the bank is the custodian of the data captured in order to validate the customer and provide banking services.

• TCS BaNCS provides a real-time single 360-degree relationship view of the customer. The solution also manages personally identifiable information per regulatory needs, such as in the case of GDPR compliance based on customer consent.
• APIs to view and/or modify customer’s data are provided; these APIs can be accessed by various channels like internet/mobile banking (by the individual) or branch channel/CRM application (by a teller on behalf of the customer). The capability to extract/download all customer data in a machine-readable format (XML/JSON) for data portability or in the form of a report (PDF) are available. 

TCS states the following:

• TCS BaNCS is an online, real-time banking solution that exposes services at the granularity of business functions as APIs by design. The APIs are aligned to industry and regulatory initiatives such as BIAN and open banking, PSD2 and in areas where these standards are deficient. TCS BaNCS has proprietary APIs defined.
• While APIs enable seamless and superior customer experience, TCS BaNCS’ Open Banking capabilities help unlock the new business and operating models of Banking-as-a-Service and embedded finance.
• 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.

(Including Exclusivity, Coterminous Contracts, Deconversion Fees, Limitation of Liability, SLAs and Early Termination Penalties)

TCS states the following:

• TCS operates an open third-party ecosystem without exclusive arrangements.
• TCS can provide coterminous contracts for products and services owned and offered by TCS.
• There are no deconversion fees per se, however, complex support requirements may require professional services support.
• Limitation of Liability is generally limited to a portion of fees paid or fixed amount.
• In a cloud environment, TCS can offer 99% to 99.9% availability for TCS-provided services.
• Generally, TCS requires full payment of the initial contract term. Discounted termination in a renewal or latter stages of the initial term depend on the client situation and contract terms as a whole.