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TCS BaNCS to help accelerate adoption of Payments Canada's modernization initiatives

Posted On: 2019-05-15 14:00:10


Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced the launch of TCS BaNCS for Payments in Canada to help banking and financial institutions accelerate adoption of Payments Canada's Modernization initiatives to enhance their global competitiveness, and deliver a next-generation payments experience to their customers.

TCS BaNCS for Payments is a proven payments processing solution, currently available in 25 markets, including the US, UK, Europe, MEA, APAC and Africa. TCS is launching this solution in the Canadian market to help financial institutions adopt ISO20022, real-time payments and leverage payment overlay services rapidly to deliver differentiated customer experiences, while complying with Canadian banking and data privacy regulations. The solution can be deployed on the cloud or on premise based on the customer's preference.

TCS BaNCS for Payments is an integrated solution, natively built on ISO 20022 standards, with extensive end-to-end, multi-product / multi-rail payment processing capabilities. The solution is built on a modern architecture that enables easy integration with customer channels, internal systems, market infrastructure and ecosystems, leveraging API-driven capabilities to create a differentiated digital experience.

TCS BaNCS for Payments is a SWIFT Ready and SWIFT gpi Ready certified solution and supports real-time payment processing across multiple geographies, entities and currencies. It also offers unified monitoring of operations, integrated Management Information Systems (MIS), payments analytics, real-time visibility for cross-rail limits, and integrated liquidity, AML and fraud monitoring. Integrated with the TCS' Quartz Gateway, this solution enables processing of payments on blockchain platforms and ecosystems seamlessly, thereby future-proofing financial institutions.

"We are extending our globally proven TCS BaNCS for Payments solution to financial institutions in Canada and reinforcing the pivotal role we play in their ongoing transformation journeys, aligned with the Payments Canada Modernization. Our investments in staying ahead of the curve, in adopting new standards like ISO 20022 or leveraging industry innovation like SWIFT gpi, clubbed with our infrastructure initiatives, makes us key enablers of growth and transformation," said R Vivekanand, Co-Head, TCS Financial Solutions.

"Canadian enterprises are looking for greater agility and flexibility to cater to their customer needs in the evolving payments space by exploiting newer payment rails and overlay payment services. TCS has been investing in building cloud-based payments solutions and an Agile-ready workforce to cater to the evolving future needs of the banking sector and the Canadian industry at large," said Soumen Roy, Country Head, TCS Canada.

With Canadian roots that reach back over 27-years, TCS has developed its solid reputation in Canada by channeling its global capabilities into unique innovative solutions for the region. TCS has consistently introduced new products and services that align with the country's evolving needs and help customers differentiate themselves in Canada and on the world stage.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2094.35 as compared to the previous close of Rs. 2131.1. The total number of shares traded during the day was 107390 in over 6246 trades.

The stock hit an intraday high of Rs. 2158.2 and intraday low of 2074.5. The net turnover during the day was Rs. 225640635.


Source: Equity Bulls

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