IDFC Bank has selected BaNCS core baking solution of Tata Consultancy Services. The bank believes the solution will enable it to offer next generation banking services that are more personalized, convenient and faster. The bank started using TCS BaNCS’ solution from 1 October at its 23 branches and it has found that the solution equips it with a flexible, easy-to-scale system that will help it deliver a differentiated customer experience. Rajiv Lall, MD and CEO of the bank, said in a statement the bank intends to use technology to relentlessly drive efficiency, with a new approach to service and inclusive banking. To achieve this, it requires a system that is nimble, smart, and one that would host all products and processes within a common architecture. The selection of TCS BaNCS was based on this fundamental premise, he added. N Ganapathy Subramaniam, president of TCS Financial Solutions, said the solution has gone live at the bank within a year, laying the foundation for customer-centricity, business resiliency, and operational efficiency. In about nine months, IDFC Bank has implemented solutions for core banking, corporate loan origination, financial inclusion and global limits and exposure management (GLEM) from the TCS BaNCS suite and has integrated them with a host of additional systems within the bank.
