Vipps Extends Partnership with TCS to Accelerate Business Growth

Tata Consultancy Services will Leverage its Machine First™ Delivery Model and Cloud Services to Support Vipps’ Digital Ambitions and Strategic Growth

OSLO | MUMBAI, January 9, 2020: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, has expanded its partnership with Vipps AS, Norway’s leading player in the payments and identification segment, to leverage TCS’ Machine First™ Delivery Model (MFDM™) and cloud services to accelerate the latter’s growth and digital journey.

TCS has played a vital role in Vipps’ journey since it was launched in 2015 and went on to become a runaway hit in Norway. Today, Vipps’ services link millions of contact points to Norwegian users every single year. The company was looking to transform its IT operations to meet rising customer expectations, and to compete as a smart payments company in the global market. After a comprehensive evaluation, TCS was selected as a partner to support the company’s digital ambitions and strategic growth.

“Approximately 75 percent of the Norwegian population is using Vipps. However, we are constantly facing new regulations, new competition and increasing expectations from our customers,” said Jan H. Solhøy, CTO, Vipps AS. “TCS is a vital partner and we look forward to our continued partnership. With investments in technology and innovation, we continue to explore new and adjacent markets, with our aim and focus on making world class simplifications for our customers.”

“We are proud to have been a part of Vipps’ journey since the beginning and are delighted to extend our partnership to support them in their digital ambitions,” said Hemakiran Gupta, Business Unit Head, BFSI – Mainland Europe, TCS. “Our customer centricity and contextual knowledge coupled with our technology expertise make us the preferred partner in our customers’ Business 4.0™ journeys.”

TCS’ cloud services, including consulting, migration, implementation and managed services help financial institutions design, execute, and sustain a business ecosystem balanced on a cloud-led business strategy.

TCS’ MFDM leverages automation, robotics and artificial intelligence to help enterprises achieve their business outcomes faster, with reduced risk. The core principle of this model is to pair humans with, and not versus, machines. It uses the ability of machines to solve complex problems faster, better and handle large volumes and breadth of coverage, while humans provide inputs for machines to learn to solve complex problems better. The resultant machine intelligence delivers multi-fold productivity improvements and elevates customer experience to newer highs.

About Vipps

Within 6 months of its launch, the Vipps app was downloaded more than one million times and in three years-time it has become a household brand in Norway. With 3.5 million users Vipps has become a natural part of the Norwegians everyday payment life. Vipps have become a verb, which is quite cool. Vipps started as a P2P payment service and have since launched payment solutions for billing, online payments, and invoicing. Recently VIPPS merged with leading players within payment and e-signing services, BankAxept and BankID.

About Tata Consultancy Services Ltd. (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 450,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $20.9 billion in the fiscal year ended March 31, 2019, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

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