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The suite supports real time and other mechanisms, allowing banks to easily integrate legacy and modern systems within their ecosystem. Further, its real-time and events-based processing assures systems availability while the processing takes place. Using TCS BaNCS’ open architecture with SOA based components, banks can achieve incremental transformation and easily work with less than real-time systems as well. Enterprises can implement audit and security controls in accordance with industry standards using TCS’ banking solution. Additionally, TCS BaNCS enables banks to centralize operations across multiple countries and run their operations from offshore or multi-shift processing. Banks can get a complete financial view through event-based tracking at various levels with notifications on pending work. In addition to core banking, TCS BaNCS has capabilities for investment banks and wealth managers in the form of portfolio performance, securities processing, securities lending, and corporate actions solutions.
Built on a strong foundation of highly satisfied customers, TCS BaNCS product suite with its modern architecture and extensive componentization, optimizes TCO and mitigates the risk of complex implementations
Adding to this, TCS offers ‘implementation certainty’ owing to its rich experience working with banks on application development, maintenance, and support. “We would like to be viewed as the right partner for the right solutions, delivery experience, and technology knowledge to make implementation a certainty.”
TCS BaNCS has partnered with a number of banks with their core transformation. In one instance, a community based financial institution required to support their rapidly growing business, but was constrained by their legacy core banking system. The bank implemented TCS BaNCS which gave them a robust core processing engine with multiple benefits. “With our solution, the bank was able to save critical time servicing customer needs leading to a significant increase in productivity,” adds Vallat.
TCS BaNCS has a strong track record in the U.S. and Europe while expanding its footprint in other countries as well. The company will continue to invest its R&D budget in digital enablement solutions, self-healing architecture, robotics, and artificial intelligence adding these additional critical value propositions to its existing solutions. “Our innovation lab will continue to develop new solutions based on various banking needs while collaborating with our great array of customers and prospects,” concludes Vallat.