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Vipps Extends Partnership with TCS to Accelerate Business Growth

Posted On: 2020-01-09 21:14:28


Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has expanded its partnership with Vipps AS, Norway's leading player in the payments and identification segment, to leverage TCS' Machine First™ Delivery Model (MFDM™) and cloud services to accelerate the latter's growth and digital journey.

TCS has played a vital role in Vipps' journey since it was launched in 2015 and went on to become a runaway hit in Norway. Today, Vipps' services link millions of contact points to Norwegian users every single year. The company was looking to transform its IT operations to meet rising customer expectations, and to compete as a smart payments company in the global market. After a comprehensive evaluation, TCS was selected as a partner to support the company's digital ambitions and strategic growth.

"Approximately 75 percent of the Norwegian population is using Vipps. However, we are constantly facing new regulations, new competition and increasing expectations from our customers," said Jan H. Solhy, CTO, Vipps AS. "TCS is a vital partner and we look forward to our continued partnership. With investments in technology and innovation, we continue to explore new and adjacent markets, with our aim and focus on making world class simplifications for our customers."

"We are proud to have been a part of Vipps' journey since the beginning and are delighted to extend our partnership to support them in their digital ambitions," said Hemakiran Gupta, Business Unit Head, BFSI - Mainland Europe, TCS. "Our customer centricity and contextual knowledge coupled with our technology expertise make us the preferred partner in our customers' Business 4.0™ journeys."

TCS' cloud services, including consulting, migration, implementation and managed services help financial institutions design, execute, and sustain a business ecosystem balanced on a cloud-led business strategy.

TCS' MFDM leverages automation, robotics and artificial intelligence to help enterprises achieve their business outcomes faster, with reduced risk. The core principle of this model is to pair humans with, and not versus, machines. It uses the ability of machines to solve complex problems faster, better and handle large volumes and breadth of coverage, while humans provide inputs for machines to learn to solve complex problems better. The resultant machine intelligence delivers multi-fold productivity improvements and elevates customer experience to newer highs.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2216 as compared to the previous close of Rs. 2255.05. The total number of shares traded during the day was 102267 in over 6787 trades.

The stock hit an intraday high of Rs. 2251.05 and intraday low of 2210.45. The net turnover during the day was Rs. 227363121.


Source: Equity Bulls

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