briefing
TCS BaNCS in
AUSTRALIA
Longevity as
a trusted partner
in banking,
capital markets,
and insurance
As in all markets, the Australian
market continues to evolve
with more compliance
regulations and increased
customer expectations. It is
understandable that financial
institutions turn to their trusted
business partners to see them
through these immense changes.
By Colin Sword, Country Head –
Australia and New Zealand, TCS
As an example, Australia’s New Payments Platform
(NPP) is a convenient and inexpensive way for retail
consumers to pay someone within seconds without
having to know the recipient’s full account details. TCS
facilitated the readiness for the go-live “on date” for all its
local financial institution customers, with two being early
adopters. As NPP moves into mainstream acceptability,
now with over two million registered participants, the
next wave of value-added services is arriving.
TCS BaNCS clients are building customer-focused
solutions that incorporate NPP in ways that make sound
business sense. With the real-time capabilities of
TCS BaNCS along with API-based access to open
banking components, financial institutions are creating
value propositions that are not dependent upon legacy
fee structures or business models. That’s the kind of
flexible technology and strategic thinking that makes for
successful lasting partnerships.
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