TCS receives an order from Five Star Bank, stock zooms nearly 2%

11 Aug 2022 , 01:57 PM

Following news that the IT giant has teamed with Five Star Bank, a division of Financial Institutions, Inc., to offer it Customer Intelligence & Insights (CI&I) analytics platform, shares of Tata Consultancy Services (TCS) increased by nearly 2% on Thursday’s trading.

In Central and Western New York, Five Star Bank offers consumer and business financing services.

As a result of the news, TCS shares increased 1.87% to a high of Rs3,418.80 on the BSE.

In order to better satisfy customer expectations and create competitive distinction, the bank was looking for a solution that offers contextual consumer insights, according to TCS.

Key stakeholders are alerted by CI&I when customer thresholds are achieved, such as credit scores, account values, or life events, using a KPI-based alert structure.

The bank will also be able to monitor loans periodically thanks to CI&I, share early warnings about loans that are likely to default, and take the required precautions to stop loans from experiencing extended credit degradation. It will alert the bank about clients who are most likely to default on or pay off their debts early using AI-based models.