TCS BaNCS Marketplace launched to help financial services companies accelerate innovation with part
Tata Consultancy Services Partner Solutions Marketplace is a place where financial institutions can manage customers’ contextual experiences and generate new revenue streams.
Mumbai, October 14, 2021: Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), the world’s leading organization of IT services, consulting and business solutions, announced the launch of an improved TCS BaNCS Marketplace, an innovation hub for customers collaborate and make advanced partnership solutions compatible with the TCS BaNCS suite, covering banking, capital markets and insurance domains.
Financial institutions are increasingly collaborating with TCS to accelerate their innovation and leverage the broader collaborative innovation ecosystem overseen by TCS. TCS BaNCS Marketplace offers them a rich ecosystem of solutions and APIs from financial technologies, insurance technologies, risk technologists, regular technologies and other innovators.
Customers can collaborate and experiment with these partners in a safe and secure sandbox environment to collaboratively innovate and quickly prototype solutions that enhance the end-customer experience as well as create new value-added services and revenue streams. They can also choose pre-packaged and tailored solutions to accelerate their response to growing market needs.
For partners, the Marketplace offers access to a large established TCS BaNCS database worldwide and the opportunity to enter new markets. More than 100 partners are already part of the TCS BaNCS Marketplace. Of these, 50% are at various stages of monetization, and 25% of partner solutions are already deployed in customer organizations.
To place on the Marketplace, partners undergo a process of curation to determine their strategic importance to customers and complementarity with the TCS BaNCS product roadmap.
R. Vivekanand, Co-Director, TCS Financial Solutions, said: “TCS BaNCS Marketplace gives our customers a place to collaborate and innovate with our chosen partners in a safe, secure environment and delivering fresh customers to their customers. The solutions on the Marketplace have evolved in line with TCS BaNCS product line and market, and its API-first approach not only facilitates easy and secure integration with multiple ecosystems, but also creates new business models and opportunities for our customers. ”
About TCS Financial Solutions
TCS Financial Solutions is a strategic division of Tata Consultancy Services. TCS Financial Solutions, dedicated to providing business solutions to financial institutions around the world, has assembled a wide range of products under the TCS BaNCS brand. TCS BaNCS’s universal financial solution is designed to help financial service organizations improve the end-customer experience by enabling them to use open and innovative technologies that embody true digital interaction with customers. It is the largest collection of components, enterprise and consumer applications for the financial industry, deployed in more than 450 installations around the world, enabling companies to become smarter and smarter using the power of new and expanded ecosystems.
To learn more about TCS BaNCS, visit: www.tcs.com/bancs