TCS launches enhanced TCS BaNCS Marketplace to enable Financial Services Companies accelerate innovation

Tata Consultancy Services’ Marketplace of Partner Solutions is a destination for Financial Institutions to curate contextual customer experiences and build new revenue streams.

Oct 14, 2021 01:10 IST India Infoline News Service

Tata Consultancy Services
Tata Consultancy Services (TCS), announced the launch of the enhanced TCS BaNCS Marketplace, an innovation hub for customers to collaborate and adopt cutting-edge partner solutions compatible with the TCS BaNCS suite, spanning banking, capital markets, and insurance domains.

Financial institutions are increasingly partnering with TCS to accelerate their innovation and to leverage a larger co-innovation ecosystem curated by TCS. The TCS BaNCS Marketplace offers them a rich ecosystem of solutions and APIs from fintech, insurtechs, risk tech, regtechs and other innovators.

Customers can collaborate and experiment with these partners in a secure and trusted sandbox environment, to co-innovate and rapidly prototype solutions that enhance end-customer experience, and enable new value-added services and revenue streams. They can also select pre-packaged and curated solutions to accelerate their responses to evolving market needs.

For partners the Marketplace offers access to TCS BaNCS’ large installed base across the world and an opportunity to expand into newer markets. More than 100 partners are already part of the TCS BaNCS Marketplace. Of these, 50% are in different stages of monetization and 25% of the partner solutions have already been deployed at customer organizations.

To be hosted on the Marketplace, partners go through a process of curation to determine their strategic relevance to customers and complementarity with the TCS BaNCS product roadmap.

R Vivekanand, Co-Head, TCS Financial Solutions, said, “TCS BaNCS Marketplace gives our customers a place to collaborate and innovate with our curated set of partners in a secure, trusted environment, and deliver fresh experiences to their customers. The solutions on the Marketplace have evolved with the product direction of TCS BaNCS and the market, and its API-first approach not only facilitates easy and secure integration with multiple ecosystems, but also creates new business models and possibilities for our customers.”

At around 1.52 pm, Tata Consultancy Services was trading at Rs3,624.10 per piece down by Rs31.95 or 0.87% from its previous closing of Rs3,656.05 per piece on the BSE.

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