Solution
Banking
Banking Services Transformation: Unlocking Exponential Value
Highlights
TCS BaNCS offers a modern, scalable architecture that seamlessly integrates with new ecosystems through well-defined APIs.
Extensive support for SWIFT gpi payments as instructing, intermediary, and instructed institutions.
Off-the-shelf availability of real-time dashboards, easy navigation, exception management queues, multiple repair modes, and extensive search and audit features.
In this article
Challenge
Transform your payment processing capabilities with our SWIFT-ready, ISO 20022-compliant solution.
With several dynamic factors constantly reshaping the payment landscape, financial service providers and payment operators have an opportunity to differentiate themselves by launching innovative products with an effective cost structure and upgrading their infrastructure.
Solution
Designed on the digital-first, cloud-first philosophy, TCS BaNCS for Payments aims to transform payment processes for financial institutions with its extensive end-to-end multi-product payment processing capabilities. The integrated solution is built on a modern architecture enabling easy integration with customer channels, internal systems, and market infrastructure by leveraging API-driven capabilities. TCS BaNCS for Payments is natively built on ISO 20022 standards and is a SWIFT and SWIFT gpi-certified application that adheres to regional regulations across multiple geographies.
The enterprise payments hub has enabled us to provide cutting-edge features to our clients in the domestic payments space. Within a year, the platform has successfully scaled to support payments transaction volume growth of more than 30 percent.
Powered by TCS BaNCS:
Real-time payments
TCS BaNCS for real-time payments helps organizations offer a superior omnichannel customer experience with instant payments across geographies with varying clearing rules, SLA requirements, account addressing, and messaging standards. The solution focuses on delivering a higher degree straight through processing and enables latest payment mechanisms, including instant transfer, instant debit, request-to-pay, and pay-by-proxy.
P27 payments
TCS BaNCS’ SEPA- and ISO 20022-compliant system is designed to act as a foundation for the P27 initiative
P27 payments is the world's first real-time, cross-currency payment system built by six major Nordic banks, providing secure and rapid direct payments to 27 million Nordic citizens.
TCS BaNCS for Payments is SWIFT and SWIFT GPI certified application adhering to regional regulations across multiple geographies. The solution has been certified for the payments market with SWIFTReady labels for more than 10 years now. Read more about the SWIFT certification here.
