Tata Consultancy Services introduces TCS BaNCS Marketplace

Tata Consultancy Services (TCS) has launched TCS BaNCS Marketplace to enable financial services companies in expediting innovation with their partner ecosystem.

According to the Indian IT services provider, TCS BaNCS Marketplace is an innovation hub that allows customers to join forces and implement cutting-edge solutions from partners that are compatible with the TCS BaNCS suite, spanning capital markets, banking, and insurance domains.

Tata Consultancy Services said that TCS BaNCS Marketplace offers financial institutions an extensive range of solutions and APIs from fintechs, risktechs, insurtechs, and other innovators.

The IT giant said that customers can work together and experiment with their partners in a secure and trusted sandbox environment to jointly innovate and quickly prototype solutions that improve the end-user experience, as well as enable new value-added services and revenue streams.

Apart from that, customers can also pick pre-packaged and curated solutions to speed up their responses to the changing needs of the market.

Tata Consultancy Services introduces TCS BaNCS Marketplace. Photo courtesy of Naveen.kumar.kotta/Wikipedia.org.

For partners, TCS BaNCS Marketplace is said to provide access to the large installed base of TCS BaNCS throughout the world, and the scope to grow into more markets.

R Vivekanand — Co-Head of TCS Financial Solutions said: “TCS BaNCS Marketplace gives our customers a place to collaborate and innovate with our curated set of partners in a secure, trusted environment, and deliver fresh experiences to their customers.

“The solutions on the Marketplace have evolved with the product direction of TCS BaNCS and the market, and its API-first approach not only facilitates easy and secure integration with multiple ecosystems, but also creates new business models and possibilities for our customers.”

Earlier this month, Tata Consultancy Services reported a net income of $1.3 billion for the second quarter of the fiscal year 2021-2022 that ended 30 September 2021. (Read more about TCS Q2 FY2022 results here)