Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Stock Report

| More

Emirates NBD Transforms its International Payments Operations with TCS BaNCS™

Posted On: 2020-09-13 23:53:48

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced that Emirates NBD, the Middle East's leading financial services group, has successfully deployed a centralized international payments hub for multiple entities, running on TCS BaNCSTM for Payments.

Emirates NBD had selected TCS BaNCS for Payments as part of its vision to transform payments processing across all its entities covering six countries. The solution is now being used for international payments in Singapore, India, United Arab Emirates and United Kingdom. In India, the solution will also process domestic payments over RTGS and NEFT, while in UAE, at Emirates NBD and Emirates Islamic Bank, it will manage international payments as well as FTS for domestic clearing.

The TCS BaNCS Enterprise Payments Hub centralizes and strengthens the bank's payments processing infrastructure across countries. This modern, high-performing solution enhances the digital experience for customers and simplifies the bank's IT landscape. In addition, it will enable the bank to launch new innovative services and payments products such as SWIFT for Corporates, and adopt upcoming market innovations in real-time clearing such as GCC-RTGS (KSA, UAE), IPI, and Egypt - RTGS, while also enabling GPII Certification for all its entities.

Abdulla Qassem, Group Chief Operating Officer, Emirates NBD, said, "The payments space is fast becoming a strategic, value-adding proposition with products, technology solutions and clearing capabilities converging the world over. We embarked on a payments transformation program last year with TCS BaNCS and have now deployed a modern hub-based payments infrastructure to help us deliver solutions in line with our customer expectations. The solution has moved our payments operations internally for standardized, scalable, and centralized processing along with the capability to adopt new market evolutions in clearing, including SWIFT for Corporates."

"We are happy that TCS BaNCS for Payments has gone live on schedule at Emirates NBD. This transformational program provides a platform for agility and enhanced efficiency in payments processing and also allows Emirates NBD to innovate and expand their service offerings leveraging TCS BaNCS APIs. The installation is a true showcase of TCS BaNCS' multi-entity capabilities and enables greater levels of standardization and process harmonization across multiple geographies enabling Emirates NBD to provide a consistent brand experience to its customers," said Venkateshwaran Srinivasan, Head, TCS Financial Solutions. "We are particularly pleased that a significant part of the rollout of TCS BaNCS has happened during the disruptive COVID-19 lockdowns, demonstrating the efficacy of TCS' Secure Borderless Workspaces™ operating model, which ensures business continuity for our customers."

TCS BaNCS for Payments offers multi-entity, -currency, and -country capabilities covering the complete value chain, including order management, clearing and settlement. It provides direct debit and credit transfers, including domestic and international variations, on a single platform. The future-proof solution is designed on ISO2002-based data and process models and includes all the cutting-edge features that forward-thinking customers seek from a modern banking solution, including real time payments and Open APIs. TCS BaNCS is certified as SWIFT Ready for Payments for almost ten years in a row and is among the first wave of solutions certified with a SWIFT gpi ready label.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2373.7 as compared to the previous close of Rs. 2331.6. The total number of shares traded during the day was 174945 in over 9996 trades.

The stock hit an intraday high of Rs. 2382.65 and intraday low of 2331. The net turnover during the day was Rs. 414291783.

Source: Equity Bulls

Click here to send ur comments or to

Other Headlines:

Welspun Corp Ltd receives orders worth Rs. 1400 crore

SKINN by Titan Launches 'Escapade'

Usher in the festivities with Westside's 'What's Your Festive' Campaign

Tata Chemicals bags 3rd spot in Responsible Business Ranking 2020

Canara HSBC OBC Life Insurance rolls out additional health cover for employees amid COVID-19

TCS Global Survey Finds 90% of Large Enterprises are Maintaining or Increasing Digital Transformation Budgets Amid COVID-19

Makers Laboratories Ltd to acquire Resonance Specialties Ltd

Kaveri Seeds features in Forbes, Asia's Best under A Billion 2020 list, 6th time in the last 10 years

Vedanta Jharsuguda rolls out financial literacy training for its 'Subhalaxmi Co-operative' members

Dabur launches Ghar Ghar Immunity initiative

Zen Technologies Limited completes acquisition of 100% shareholding in Zen Medical Technologies Private Limited

KNR construction Ltd successfully completed sale of KNR Walayar Tollways Pvt Ltd to Cube Highways

Infomerics Valuation and Rating Pvt Ltd reaffirms rating of Dhunseri Ventures Limited

CRISIL reaffirms ratings of Diana Tea Company Limited

BLS wins contract from Republic of Estonia

IndiGrid approves Induction of KKR as a Sponsor

Moody's downgrades IIFL Finance to B2 from B1, outlook stable

Emkay Global Financial Services Ltd board to consider 2nd quarter results on Oct 30, 2020

LTI Recognized as a Great Place to Work™ in the USA

SBI Card inks partnership with American Express

Heritage Foods Limited board to consider Q2, H1 results on Oct 28, 2020

Myanma Foreign Trade Bank chooses Intellect for a scalable, future-proof Digital Transformation

TATA Elxsi Ltd board to consider Q2FY21 results on Oct 14, 2020

Steel Strips Wheels Ltd secures export orders of nearly 9000 wheels

Pritish Nandy Communications wins Best Script at Screenwriters' Award 2020

CRISIL reaffirms ratings of Mahindra and Mahindra Limited

Zydus Wellness Limited board fixes QIP price as Rs. 1690

IDFC First Bank's V Vaidyanathan gifts 1 lakh shares to his former school teacher

Vedanta Ltd board to announce Q1 results on Oct 3, 2020

SBI announces celebratory delights for retail customers

IRCON supported the promotion of culture and heritage by carrying out beautification work on the walls of Bengaluru Railway Station

Chembond Water receives 2020 Best Practices Award from Frost & Sullivan

Symphony introduces world's 1st 'Universal packaged air coolers' for industrial and commercial application

Central Bank of India raises Rs. 254.99 crore through QIP

Refex Industries Ltd to invest in units of RKG Fund - I

Endurance Technologies Ltd board to approve Q2, H1 FY2021 results on Nov 10, 2020

Western Union International Money Transfer Services now available at Alankit Forex India Ltd

Cosmo Films Launches BOPP-Fragranced Packaging Film

India Grid Trust completes acquisition of Jhajjar KT Transco Private Limited

Dhunseri Tea & Industries Ltd enters into MoU for sale of Khetojan Tea Estate

Anuh Pharma Ltd receives approval from WHO for Pyrimcthamine API

Dr Lalchandani Labs Ltd announces increase in capacity for Covid-19 RT-PCR testing

SBI announcement of processing fees waiver on Home Loan

EdgeVerve and Minit Partner to Deliver Actionable Process Intelligence

TCS Wins Four Stevie® Awards at the 2020 International Business Awards

SJVN Limited gets investment approval of 210 MW Luhri HEP and 66 MW Dhaulasidh HEP in Himachal Pradesh

TV Today Network Ltd board to consider Q2, H1 FY2020-21 results on Nov 6, 2020

Pre book with Tanishq and secure your gold rate today

NELCAST Ltd completes Phase II of iron casting project at Pedapariya in Andhra Pradesh

Infosys and Roland-Garros Empower Players, Fans and Media with New Digital Innovations on Court and at Home

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019