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Banque Saudi Fransi Selects TCS BaNCS™ Global Banking Platform to Enhance Customer Experience

Posted On: 2020-02-19 14:40:14


Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that Banque Saudi Fransi (BSF), one of the largest banks in the Kingdom of Saudi Arabia, has selected the TCS BaNCS™ Global Banking Platform to provide seamless and contextual customer experiences with a digital core. The new platform will be deployed across BSF's corporate and retail banking groups, Islamic Banking, as well as payments, and will ensure full compliance to SAMA guidelines.

BSF selected the TCS BaNCS Global Banking Platform as its integrated digital core, for its rich functionality and high-performance architecture. The platform's flexibility enables speedy launch of new products and services while its high level of automation significantly enhances customer service levels. Designed on a Digital First, Cloud First philosophy, the platform's Open Banking capabilities complemented by TCS' blockchain offering, Quartz™, will enable participation in larger ecosystems. Additionally, TCS' track-record in successfully executing large, complex transformation programs positioned it as a trusted partner for this undertaking.

This latest win adds to the string of successful partnerships that TCS has built with leading financial institutions in the Kingdom, as well as across the rest of the Middle East, over the last two decades.

Thamer Yousef, COO, Banque Saudi Fransi, said, "Our mission is to become the most modern, innovative and experience-focused bank in the region. We believe that our partnership with TCS BaNCS will help us towards meeting the challenges of the future."

"Progressive banks are seeking to differentiate themselves in a Business 4.0™ world by investing in technology to enable mass personalization and to leverage ecosystems. Our strong product vision and roadmap has made TCS BaNCS the preferred digital core to help them become future-ready," said Venkateshwaran Srinivasan, Head, TCS Financial Solutions. "We are proud to be selected as the transformation partner by Banque Saudi Fransi and are committed to the success of their journey."

The TCS BaNCS Global Banking Platform, also available in a SaaS model, is an integrated suite that helps banks and financial institutions offer innovative products and services to customers throughout their life journeys, based on their anticipated requirements and over the devices of their choice. The solution has one of the richest collections of API-enabled components addressing wealth management and retail, corporate and private banking, including digital banking for all segments. It supports a variety of products and services covering assets and liabilities and can fit the business and operating model of a bank with an assured 24x7x365 availability, as evidenced at the 450 sites where it is installed successfully.

Shares of TATA CONSULTANCY SERVICES LTD. was last trading in BSE at Rs.2215.3 as compared to the previous close of Rs. 2203.25. The total number of shares traded during the day was 96139 in over 7748 trades.

The stock hit an intraday high of Rs. 2221.35 and intraday low of 2186.75. The net turnover during the day was Rs. 212176662.


Source: Equity Bulls

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