TCS BaNCS Customer Newsletter #33 | Page 4

leadership view

Now , it ’ s all moving Faster Forward .
For each of the key technological trends , we ’ re arriving faster to new equilibrium states that previously , under incremental , pre-pandemic forecasts , may have taken years to materialize .
In our role as a trusted partner to the financial services industry , our primary focus at TCS BaNCS since the onset of the pandemic has been on ensuring safety , resilience , and continuity . It has been a difficult road with Covid-19 still raging , but we are already seeing hopeful signs of economic recovery , regional reopening , and progress toward a vaccine .
Venkateshwaran Srinivasan , Head of TCS Financial Solutions
In our quickly evolving and challenging business environment , companies across financial services ( and all other industries ) have worked ceaselessly over the last six months to reimagine how to reach and serve their customers , manage business and regulatory changes , and understand changed customer preferences . The early evidence , including data on consumer adoption of digital services , reveals that the companies that best navigated the Covid-19 crisis were those that had already embraced Digital and Cloud prior to the crisis .
We were already committed to Digital First . Now , that is swiftly becoming Digital Only . The rapid transition to digital experiences has transformed the entire marketplace by fostering unprecedented levels of customer acceptance for digital services delivered remotely , and customer expectations have risen to match . Even in the aftermath of the pandemic , a strong customer preference for digital over physical may persist , changing the landscape forever . For financial institutions , that calls for adoption of digital-native business models that can compete with digitalnative competitors . There ’ s no longer a compelling reason to ask customers to visit the branch for things they can do faster and easier online .
We were already enabling new customers to adopt Cloud . Now , TCS BaNCS Cloud is being used more and more by our existing “ on premise ” customers migrating to Cloud , in concert with a much bigger shift to Cloud throughout the industry .
Both TCS BaNCS and increasingly , our customers , are now Cloud First . TCS BaNCS Cloud enables quick deployment of everything from point solutions to complete core solutions , and financial institutions of all kinds are benefitting from the elasticity as well as business agility afforded by the Cloud to match the rapidly changing business environment . Cloud offers quick onboarding to the benefits of API connectivity , open architecture ,
Venkat : 3 keys to the future of digital banking .
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