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Tata Consultancy Services (TCS)

Core Provider

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  • Functionality & Response to Areas of Focus

  • Quick Facts

Functionality & Response to Areas of Focus

Core Functionality

TCS states that the BaNCS Global Banking platform rests on a strong digital core and is designed to help financial services institutions enhance end-customer experience. This enables banks to embrace open and innovative technologies that embody true digital customer engagement. TCS BaNCS Global Banking platform embodies the digital-first, cloudfirst philosophy on which all solution components are designed, enabling banks to offer products and services to their customers throughout the lifecycle and across all touch points. TCS BaNCS is built on a modern and open architecture embracing best-in-class principles, which TCS states gives the solution a future-proof edge.

TCS BaNCS is a universal suite of solutions for the entire financial industry across banking, capital markets and insurance solutions. 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. An integrated analytics engine provides insights about customer behavior and enterprise performance through banking specific analytical models. Augmented customer servicing capabilities through AI solutions are embedded in the digital core.

TCS BaNCS Global Banking Platform offers seamless and contextual customer experience with digital core, deployed across retail, corporate, private banks, SMBs, cooperatives, community banks, micro-lenders and credit unions. The banking platform offers core banking with customer management, deposits, loans, compliance, operational and management reporting, teller channel and digital online/mobile banking for retail and business segments. The solution is pre-integrated with complementary ancillary solutions for capture solutions, payments, general ledger, regulatory reporting, document management, statement printing and other market ready interfaces.

TCS BaNCS Digital Solutions, powered by BaNCS ADK, provides financial institutions with the capability to design, configure, brand and deploy apps on demand based on their unique needs, while its analytics offering enables financial institutions with enhanced customer-centricity and operational performance.

TCS BaNCS is also blockchain-enabled in a unique coexistence model with TCS’ Quartz Blockchain Smart Solutions and has the power to bring organizations together by creating future state ecosystems that amplify value, reducing duplication and engendering trust

Firm's Response to Core Committee's Key Areas of Focus

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 is an on-line, real time banking solution which exposes services at the granularity of business functions as APIs by design, these are either RESTful, SOAP over HTTPS or TCP/IP. The APIs are aligned to industry standards such as IFX, BIAN and open banking/ PSD2 wherever possible, and in areas where these standards are deficient TCS BaNCS has proprietary APIs defined.

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 BaNCS provides capability around the “right to be forgotten” as well, as part of this feature customer PII can be anonymized or purged (configuration driven) from the application.

TCS is in the process of writing to OFX standard and progressively monitoring progress of FDX. 

TCS states that there are multiple systems that form the ecosystem for open APIs where customer authorized data aggregators access customer’s data. These include (but are not limited to):

  • Third party provider: the external aggregator trying to access the data on customers behalf.
  • Registration authority: an external body that maintains the authorized list of Third Party Providers (TPP) (optional entity).
  •  API Gateway: a gateway exposing banks’ APIs to the outside world in a secure manner.
  • Consent Management System: the system maintaining records of consents provided by the customer on a specific account to a specific TPP for a specific purpose/scope for a specific period/duration.
  • Core banking system: the system of records of customer data

In the above list, while (a) and (b) are external to the bank, (c), (d) and (e) form part of bank’s IT landscape.

TCS BaNCS has an established reference architecture where all the above systems come together to form the ecosystem that provides the open banking capabilities to the bank. This includes, but is not limited to, framework for secure access to customers data based on roles, purposes and implementing dynamic data masking for configure sensitive attributes.

In addition to TCS BaNCS Global Banking Platform, TCS provides
optional offerings like:

  • TCS Consent Management System.
  • Ability to implement any of the industry standard API gateways like IBM APIConnect, Google APIGEE, etc.

The bank can opt for these products and services to build the open banking capabilities for its enterprise.

The bank may also opt for its own choice of enterprise-level API Gateway and Consent Management System. In such a scenario, TCS BaNCS Banking Platform can be integrated with ease in the bank’s IT landscape, leveraging the rich set of APIs provided by the suite.

All of these business services as APIs are available through the SaaS model.

(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.

Quick Facts

Quick Facts
Headquarters LocationMumbai, India; New York City (U.S. operations).
Websitetcs.com
Year Established1968
Ownership ModelPublic
Regionally Focused or NationalGlobal
Number of Cores OfferedOne. TCS currently offers TCS BaNCS Global Banking Platform on cloud, as well as on a licensed basis for on premise deployment in the U.S.
Name of Core SolutionTCS BaNCS Global Banking Platform
Number of US Banks on the Core1 large regional bank; 2 community banks
Target Bank Asset SizeMore than $250 million for fullservice cloud offering; more than $20 billion for on-premise or private cloud deployment.
Business Strategy

TCS states the TCS BaNCS Global Banking platform business strategy is to focus on:

  • Digital customer experience designed for maximum userfriendliness and efficacy.
  • Cognitive technologies for user engagement insights.
  • Digital-first, cloud-first core built for agility, scalability and resilience.
  • APIs to leverage the extended ecosystem.

TCS key investment priorities are aligned to seven strategic dimensions:

  • Enabling the digital core
  • Enabling ecosystem
  • Enhancing experience
  • Data for the enterprise
  • Business and functional enhancements
  • Markets and compliance
  • Alliances with third parties and fintech firms

18:47

Video

ABA Core Platforms Committee interview with TCS’ Nagaraja Rao

Interview with Nagaraja Rao, Sales Head, TCS

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