designed to enable Business 4.0 strategies for TCS BaNCS customers. with existing and future solutions, integration with internal and
The first stream is transformation to a digital core. The first external data, and interoperability with multiple blockchains and
wave of digital adoption by financial institutions has mostly been messaging networks. Quartz Smart Solutions, developed with the
about bolting on “consumer channels” like portals and mobile apps Quartz Smart Contract Development Kit, are complete blockchain-
to legacy core infrastructures. Increasingly, financial institutions based solutions that are already live with financial institutions. We are
are realizing that legacy infrastructure limits their potential to releasing a series of solutions every quarter, across the BFSI spectrum.
address the opportunities afforded by Business 4.0 with today’s
technologies. TCS BaNCS provides financial institutions with a
The potential of blockchain will be truly realized as disintermediated
cloud-based ecosystems gain scale.
functionally comprehensive, component-based by design, modern The fourth stream is all about enhancing the customer
architectural platform. By moving from siloed legacy systems and experience. The crux of today’s mobile economy is the “user
fragmented architectures to a simplified TCS BaNCS-based digital journey,” which takes an “experience” led view of every customer
core solution architecture, several financial institutions today are interaction and/or transaction. TCS BaNCS Digital ADK enables
laying the foundation for their future digital journeys. The ability to financial institutions and their customers to create business-ready
employ Open Banking APIs, microservices-based architecture and user experiences without being encumbered by technological
extensible toolkits for empowering third-party innovation are all complexity by using simple “drag-and-drop” features, and then
a part of this future digital value realization. Core transformation launch a company-branded solution all within a matter of weeks.
also enables incremental deployments of AI to eliminate manual With these capabilities, financial institutions can enhance the
touchpoints and to provide conversational user interfaces, and a customer experience with ultrafast time-to-market and create a
pathway to the emerging vision for AI-driven banking based on custom experience with minimal IT skills.
machine learning algorithms.
The second stream is reduction of TCO and time-to-market.
Through these transformational streams, TCS BaNCS customers
are aligning with the characteristics of the successful Business
Through optimized cloud deployments of TCS BaNCS, we enable 4.0 organization. They are capitalizing upon emerging disruptive
our customers to access the power of scale and better align their technologies that are already changing customer expectations and
cost structures with the growth in business, a.k.a. “pay as you delivering the experiences that customers increasingly expect.
grow,” as opposed to step increments in costs with conventional
models. TCS BaNCS enables customers to take advantage of market BUSINESS 4.0 IN INSURANCE
opportunities by making “agile” the default model for TCS BaNCS In this special Insurance-themed issue of the TCS BaNCS Customer
product development and establishing DevOps as the standard for Newsletter, we see these ideas in action.
continuous integration and testing. We are seeing rapid adoption
of agile delivery models, not only for “business-as-usual.” but also
in our core transformation programs, thereby reducing substantial
Some of the largest insurers in the industry have started to consolidate
onto TCS BaNCS as part of a core transformation (the first stream).
Others are farther along in using TCS BaNCS as a foundation to create
risk for our customers as they realize incremental value in their new products and services quickly, in tune with market needs, and
transformational journeys. designed for the Business 4.0 economy (the second stream); expanding
The third stream is about empowering our customers through
the leverage of Ecosystems and Networks. As financial institutions
digitize, they increasingly seek to deliver services across the value
their ecosystems and networks (the third stream); and creating unique
and innovative customer experiences (the fourth stream).
The convergence of Intelligence, Agility, Automation, and the Cloud
chain, while eliminating points of friction in the transaction flow has allowed for TCS BaNCS customers to harness abundant resources
and also realizing the benefits of the “network effect." These are in real-time. As financial institutions make use of these capabilities,
activities that involve entire ecosystems and networks of partners and they will find new ways to succeed and thrive.
customers.
A case in point is Quartz, our new blockchain-based platform, which
has been created to meet these needs while providing coexistence
TCS is committed to preparing our customers for success in the
Business 4.0 world, and we will continue to innovate on ways to
support the business models of the future.
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