American regional bank Central Bank has selected Indian IT firm Tata Consultancy Services (TCS) to modernise its core technology infrastructure, fuel innovation, and enhance customer relationships.
By leveraging TCS BaNCS, Central Bank aims to create seamless and flexible customer onboarding processes, allowing continued growth for the bank.
According to TCS, Central Bank’s deployment of TCS BaNCS’ multi-bank, multi-entity capabilities, and extensive application programming interface (API) library will enable the lender to expedite integration of new banking partners. This will foster both organic and acquisition-led growth strategies.
Central Bank will also utilise the full potential of TCS BaNCS’ API ecosystem to facilitate interconnectedness across applications, services, and platforms. It will improve the bank’s customer acquisition process and employee productivity.
The real-time processing also offers the bank’s employees a comprehensive view of its customer relationships.
Central Bank president and CEO John Ross said: “When the decision was made to modernise 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.”
TCS BaNCS’ online account opening module will streamline Central Bank’s customer acquisition processes, increase efficiency, and help them obtain real-time insights into customer relationships.
Besides, it will accelerate the process for the Central Bank to develop and deploy products that meet its customers’ changing requirements.
TCS financial solutions global head Venkateshwaran Srinivasan said: “Our extensive investments in TCS BaNCS, contextual knowledge of the financial services industry, and strong track record in execution make us the preferred solution partner for preeminent institutions such as Central Bank that are dedicated to innovating at scale.”