Tata Consultancy Services (TCS) revealed that it has enabled Bitcoin Suisse (BTCS) to build a next-generation crypto-financial technology platform to transform its core business.

The crypto-financial technology platform is powered by TCS BaNCS for Banking and is expected to help Bitcoin Suisse in becoming a major global provider of crypto-financial services.

TCS BaNCS for Banking is said to have been chosen by Bitcoin Suisse because of its native support for digital assets as well as its readiness to Swiss and global markets.

According to Tata Consultancy Services, its secure and scalable cloud-based solution covers brokerage, custody, payments for crypto assets, including supervision capabilities and risk monitoring, and all other core functions. The solution facilitates continued regulatory compliance in Switzerland, said the Indian IT services provider.

Dr Dirk Klee — Bitcoin Suisse CEO said: “At Bitcoin Suisse, our priority is to create value for our clients by constantly innovating and exploring new technologies, services, and products. The launch of this state-of-the-art technology platform from TCS BaNCS sets the foundation to further establish Bitcoin Suisse as a leading crypto-financial services provider.

“With TCS, we have teamed up with a global partner who understands crypto assets and the specific needs of this industry. This unique cooperation allows us to deliver a core part of our business model in a highly scalable and secure fashion – thereby catering especially to our rapidly growing institutional client base.”

Tata Consultancy Services claimed that the high level of straight-through processing of the TCS BaNCS for Banking solution helps in quicker turnaround times to further boost client experiences.

Furthermore, the solution’s configurability is said to be helping Bitcoin Suisse design and launch new products quickly at scale related to vaults, staking, and digital asset lending.

Tata Consultancy Services said that the API-based architecture of TCS BaNCS gives the flexibility to the Swiss crypto-finance startup to integrate and collaborate easily with trading partners and the broader crypto ecosystems.

Venkateshwaran Srinivasan — Tata Consultancy Services Global Head of Financial Solutions said: “The TCS BaNCS solution will provide Bitcoin Suisse AG with the ability to rapidly launch innovative new products and services at scale and differentiate itself in the marketplace.

“With a platform that enables clients to access both digital and traditional assets securely, Bitcoin Suisse is scaling up its core business and strengthening its positioning in key growth segments. This deployment is a testimony to the leading-edge investments we have been making in TCS BaNCS to make our solutions future-ready.”

  Bitcoin Suisse, Dr Dirk Klee, Switzerland, Tata Consultancy Services, TCS BaNCS, Venkateshwaran Srinivasan