TCS to provide banking solutions to New Zealand bank

Country's largest software exporter Tata Consultancy Services today said Westpac Life NZ Ltd (Westpac) had selected its banking solution to upgrade and transform life insurance software platform.

Westpac Life NZ Ltd (Westpac) has selected TCS -- BaNCS Insurance -- IT solution to assist the financial institution to upgrade and transform its Life Insurance software platform, Tata Consultancy Services said in a statement.

"The transformation programme will enable the Insurance business to respond rapidly to changing market conditions as well as offer improved levels of service to Westpac's customers," Westpac Head of Insurance Kevin Crowley said.

TCS BaNCS Insurance provides a complete end-to-end solution for the insurance business, supporting all mainstream products, sales channels, and lifecycle functionalities, including customer management, product definition, policy administration, claims management, insurance accounting and reinsurance.

"The innovative platform will provide Westpac the ability to define, configure and launch new products in a swift and efficient style. Our experienced delivery team is looking forward to activating another successful TCS BaNCS implementation," TCS Financial Solutions Product Head Pradipta Pandit said.