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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 BaNCS for Banking, delivered through multiple models including SaaS, Hybrid SaaS, or on-premises, is a comprehensive suite of services for financial institutions, with regulatory and data compliance built in. It offers a seamless and contextual customer experience with a digital and intelligent core deployed across retail, corporate, private banks, SMBs, cooperatives and community banks.

TCS BaNCS is a core banking solution encompassing customer management, deposits, loans, compliance, operational and management reporting, teller channel, and digital online/mobile banking for retail and business segments. It is designed to give customers the experience they are looking for through:

  • A rich set of APIs, enabling ease of integration delivering superior customer experience.
  • A Digital-First, Cloud-First core built for advanced core banking such as lending, savings, deposits, payments, trade finance, fees and pricing capabilities.
  • Ecosystem enablers by continuously expanding the breadth and depth of solutions from the TCS BaNCS Marketplace.
  • Future-proof, microservices-based solution with an option to pick and choose components to implement.
  • Cognitive technologies, driving personalization, insight-driven decision making and contextualization.
  • The power of data and reaping the benefits of a single-source-of-truth as an enterprise data layer.
  • Ability to create new products quickly thereby reducing time to market for launching new products.
  • A componentized collection of business solutions to meet the requirements of the banking community. 

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 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.

Quick Facts

Quick Facts
Headquarters LocationMumbai, India; New York City (U.S. operations).
Websitetcs.com/bancs
Year Established1968
Ownership ModelPublic
Regionally Focused or NationalNational
Number of Cores Offered1
Name of Core SolutionTCS BaNCS Banking
Number of US Banks on the Core4
Target Bank Asset SizeTiers 1-4
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 states that the solution strategy is to focus on: 

  • Digital customer experience designed for maximum user- friendliness 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 fintechs

18:47

Video

ABA Core Platforms Committee interview with TCS’ Nagaraja Rao

Interview with Nagaraja Rao, Sales Head, TCS

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