TCS helps AIB Life launch operations in Ireland with tech platform

IT major Tata Consultancy Services (TCS) said on Monday that the firm is assisting AIB Life with launching its operations in Ireland. TCS said the firm was selected as the strategic partner to "help build a digital-first, full-service life company for the Irish market." AIB Life is the newly formed joint venture between Allied Irish Banks plc and Great-West Lifeco,

TCS lent its technical expertise to create "a modern, cloud-based technology stack ground up", with its flagship insurance platform TCS BaNCS at the core, the firm said in a BSE filing.

According to the firm, the technology stack gives AIB’s customers the ability to access financial advice and a range of integrated AIB life protection, pensions, and investment products in their branch, by phone and through the AIB mobile banking app.

“TCS BaNCS’ digital capabilities and configurability will help AIB Life differentiate itself in the Irish market with innovative offerings that seamlessly support its customers in their personal financial journeys,” said Vivekanand Ramgopal,  president of BFSI products and platforms at TCS. “Financial services firms and their customers around the world are benefitting from the rich functionality and omnichannel experiences offered by TCS BaNCS. Its Digital First, Cloud First architecture is tailor-made for the digital-first approach that AIB life has taken"

“After an extensive review of the market, it was clear that TCS’ contextual industry knowledge, European cloud-based technology, and global delivery team based in Letterkenny meant that they would be the perfect partners for us," Jacquie Doyle, chief operating officer at AIB Life said.

Last week, TCS  bagged a deal from British Broadcasting Cooperation (BBC) to change their finance, procurement, and HR applications management. The company will leverage AI-driven human-machine collaboration suite, TCS Cognix in the multi-year partnership, the company said.