Swedish Ikano Bank chooses TCS to create the bank of the future

Swedish Ikano Bank is now starting to build the banking business of the future TCS‘ tested financial SaaS platform, BaNCS, as part of the bank’s pan-European transformation process.

Today, Ikano Bank conducts banking business across Europe and uses different bank IT solutions from different suppliers in the eight countries in which it operates.

This leads to country-specific IT silos in the bank, which make risk management and a uniform customer experience less effective. TCS’s BaNCS platform is already used today by several financial companies in the Nordics.

Therefore, Ikano Bank has now embarked on a transformation journey that will result in a flexible, future-proof digital banking platform that makes rapid rollout of new products and expansion into new markets possible. As a partner, on the journey towards building multi-market capabilities on one banking platform, Ikano Bank has chosen TCS.

Ikano Bank will, among other things, transform and consolidate its pan-European bank accounts and custody accounts on the TCS BaNCS platform. The rollout of the new SaaS platform starts in Sweden.

Ikano Bank chooses TCS to create the bank of the futureMikael Andersson, who is Head of Digital Delivery at Ikano Bank, says “Our strategy is to build the bank of the future. A bank that is fully digital and focused on delivering superior customer experiences. Our bank has always dared to be different, while at the same time we have also tried to simplify the way we work. Banking platform transformation reflects that philosophy by simplifying our technology landscape – with the help of a best-of-breed solution provider.

The TCS BaNCS Global Banking Platform is a proven solution, with an established track-record of successful deployments in the Nordics, which will help us achieve our goals faster in innovation deployment, while our customers will benefit from better customer experiences and faster response times.

Venkateshwaran Srinivasan, Global Head, Financial Solutions at TCS, says, “We are delighted to help Ikano Bank continue their transformation journey. The TCS BaNCS Global Banking SaaS platform offers a solid, future-proof, cloud-native digital foundation that will help the bank’s innovation and growth strategy. Our track record in executing similar transformations, our experience in the area with Nordic banks and our product portfolio with built-in market and regulatory adaptation, make us the preferred partner for progressive banks in terms of their growth and transformation ambitions.”

Tata Consultancy Services has been a digital transformation partner for leading organizations in the Nordics for more than three decades.

Source: IT-Kanalen by it-kanalen.dk.

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