TCS Secures Deal From Regional US lender Central Bank By CIOTechOutlook Team

TCS Secures Deal From Regional US lender Central Bank

CIOTechOutlook Team | Wednesday, 20 March 2024, 02:46 IST

Tata Consultancy Services (TCS) has secured a deal from regional US-based lender Central Bank to utilize TCS BaNCS to assist with modernizing its center innovation infrastructure. The size of the arrangement was not revealed.

“The leading Midwest regional bank taps Tata Consultancy Services’ next-generation banking software to simplify the technology landscape, spark organic growth and accelerate client onboarding…Central Bank’s strategic partnership with TCS aims to create frictionless and flexible customer onboarding processes, enabling continued growth for the bank,” TCS said in a stock exchange filing.

Founded in 1902, the Central Bank oversees more than $20 billion in resources, serving over 150 areas in 78 networks throughout Missouri, Kansas, Illinois, and Oklahoma.

“When the decision was made to modernize our core as part of a long-term strategy, we looked extensively for a true partner. Given our shared commitment to technology and its role in the customer experience, TCS, with its TCS BaNCS product suite, was a natural choice for Central Bank,” said John Ross, President and CEO, Central Bank.

TCS BaNCS is a center banking software suite created by TCS, India's biggest IT firm, for use by retail banks.

"TCS’ longstanding partnerships with regional community banks, credit unions, and financial institutions continue to expand as we serve multiple such local and regional banks in North America. We have been working with these financial institutions to modernize their core platforms so they can adapt to their customers’ ever evolving digital needs. With TCS BaNCS, Central Bank will get a jumpstart and now offer a frictionless and flexible onboarding process that meets the needs of its growing customer base,” said Amit Bajaj, President, TCS North America.