LONDON | MUMBAI, September 23, 2019: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has announced the launch of its Real-time Payments solution in multiple markets, as part of TCS BaNCS™ for Payments, to help customers in their digital transformation journey.

With the TCS BaNCS Real-time Payments solution, financial institutions can offer instant payments in their home countries as well in international markets. The solution is API enabled for the open banking environment and its modern technology stack can integrate payments from several platforms, increasing efficiency and eliminating friction in the process. Its integrated analytics provide key insights into customer behaviors that can be used for personalization and product innovation.

The TCS BaNCS Real-time Payments solution has already been adopted by leading financial institutions across the world, and is helping them launch new offerings that enhance end-user experience, deepen existing customer relationships, tap into new segments, and build competitive differentiation.

With data and process models based on ISO20022 standards, the solution is functionally ready for domestic and cross-border real-time payments in the UK, Europe (SEPA Insta), Sweden (Swish), India (IMPS & UPI) and Malaysia (RPP). It will soon be available in Canada, the US, and Middle East and Africa in alignment with the roadmap for real-time payments in each region.

The solution’s cloud native architecture eases system deployment and integration, provides greater scalability, speed, and security while optimizing operating costs. Further, an AI/ML-enabled zero touch approach reduces risk and enhances productivity.

“The industry is witnessing a broader trend towards hyperconnectivity, which places huge emphasis on value creation by tapping into new ecosystems,” said Venkateshwaran Srinivasan, Head, TCS Financial Solutions. “The TCS BaNCS Real-time Payments solution will help our customers by leveraging new ecosystems, become more agile, fuel innovation and pursue new business models and succeed in a Business 4.0™ world.”

The Real-time Payments solution is an advanced offering of TCS BaNCS for Payments, a future-proof solution designed on ISO20022-based data and process models, packed with cutting edge features such as open APIs, that forward thinking customers seek to achieve their growth and transformation objectives. With a track record of processing international payments in 25 countries and supporting over 40 clearing systems, TCS BaNCS for Payments is a SWIFT certified and SWIFT gpi ready solution that supports payment processing across multiple geographies, entities and currencies.

About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services, focused on helping financial institutions across the world transform their businesses with the TCS BaNCS suite of products and platforms. Deployed by more than 450 progressive organizations worldwide, it is the largest collection of components, enterprise and consumer apps for the financial industry made available through the cloud, helping firms leverage technology to become agile, enhance customer experience, accelerate product innovation, and embrace open standards and blockchain to leverage the extended ecosystem, and achieve their growth and transformation objectives. To know more about TCS BaNCS, please visit: www.tcs.com/bancs

About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 436,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

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TCS Financial Solutions Media Contacts:
Global
Dennis Roman, Global Head – Products & Platforms Marketing
Email: [email protected]
Phone: +1 561 865 3339
Global
Anjana Chandrika – Head, Marketing, Communications and Research, TCS BaNCS
Email: [email protected]
Phone: +91 8067256963
TCS Media Contacts
India
Email: [email protected]
Phone: +91 22 6778 9960
UK
Email: [email protected]
Phone: +44 20 3155 2421