TCS wins contract from US firm for core banking solutions

Zions Bancorporation consists of a collection of banks in select Western US markets with combined total assets exceeding $50 bn

Tata Consultancy Services (TCS), India largest software services exporter, today said the US-based financial services firm Zions Bancorporation has chosen its core banking software TCS BaNCS.

 

Zions Bancorporation consists of a collection of banks in select Western US markets with combined total assets exceeding $50 billion.

 

"Zions Bancorporation has chosen TCS BaNCS for its core banking transformation programme to achieve standardisation, centralisation and straight through processing across the enterprise," TCS said in a statement.

 

The solution provides a 360 degree view of its end-user customers, it added.

 

TCS, however, did not reveal the financial details of the deal.

 

The transformation will be completed in phases, with the management expecting significant improvements in operational efficiency and customer experience and reduced operational and financial risk stemming from older legacy systems, it said.

 

"The modular components and multi-entity capability of TCS BaNCS tightly fits into our technology landscape," Zions Bancorporation CIO Joe Reilly said.

 

The flexibility of the solution and speed of deployment were key criteria in the selection process, he added.