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.