TCS to help Volt Bank to launch BaaS

Reported by: |Updated: December 31, 2020

Tata Consultancy Services will build and run the proposed Banking as a Service (BaaS) platform of the Australian consumer bank Volt Bank. Set up in 2017, Volt is Australia’s first Neo bank to have acquired a full banking license. Steve Weston, founder and chief executive officer, Volt Bank, said the bank is happy with its customer onboarding process and feedback and the bank will initially focus on the home lending segment, which is planned for launch in 2021. He added that the bank is delighted to partner with exceptional global technology players like TCS whose commitment to continuing innovation will ensure Volt’s banking platform remains cutting-edge. Vikram Singh, Country Head of TCS in Australia and New Zealand, said TCS is thrilled to be working with Volt to launch its next-generation payments digital banking platform Volt 2.0. The bank is using TCS BaNCS as its banking platform.