Peoples State Bank
Peoples State Bank (PSB) is a
Kansas-based community bank with
roots in agricultural lending going
back to 1897. Over the years, PSB and
its merged entities ended up with
three different core platforms, plus
various front office and teller systems
including general ledger and reporting.
To meet the evolving needs of its
customer base, PSB sought to expand
its retail, commercial, and SMB
banking services with a full suite of
digital services. Yet the bank’s three
legacy core vendors were unable
to provide adequate solutions at
the right price point. That sparked
the search for a better approach to
achieve growth and transformation.
PSB selected TCS to unify its core
platform and ancillary solutions with
TCS BaNCS Cloud for Banking™,
a market-ready, API-driven digital
banking solution. In full compliance
with U.S. and state banking regulations,
TCS BaNCS Cloud offers rapid SaaS
delivery of the largest collection of
components, enterprise and consumer
apps for the financial industry.
In a rapid deployment, TCS
transferred business processes and
data from PSB’s three prior core
banking deployments onto TCS
BaNCS Cloud. TCS also integrated
Jon Pope,
CEO, Peoples
State Bank
various third-party solutions with TCS
BaNCS, enabling PSB to simplify its
technology onto a one-stop, onevendor,
one-contract solution.
“TCS has committed to a long-term
partnership with our bank,” says Jon
Pope, CEO, Peoples State Bank. “With
TCS BaNCS as the digital core, we
have integrated all our processes,
from product development to
customer services.”
TCS BaNCS Cloud has enabled
PSB to modernize its front end with
a mobile banking app that offers
services such as account opening,
statements, money transfers, and bill
payments.
“We are able to provide an omnichannel
experience across all customer
touch points while also ensuring
regulatory compliance,” says Pope.
“The solution allows for rapid scalability
and is helping us on our path towards
innovation as well as in expanding our
footprint to larger communities.”
The new platform has enabled
PSB to deliver a superior customer
experience, gain real-time money
movement capabilities, quickly create
and launch new products, connect
with the larger banking and fintech
ecosystem, power its geographic
expansion and cater to the needs of
the new millennial demographic.
FAST FACTS
“We are very happy to have
partnered with TCS in this journey,”
says Pope.
About TCS BaNCS Cloud
for Banking
TCS BaNCS Cloud for Banking
helps banks cater to customer needs
throughout their life journeys, based
on anticipated requirements and
over the device of their choice. It
is a collection of loosely coupled
components, services and APIs that
align to standards from BIAN and
IFX, supporting a wide range of
technology environments seamlessly,
laying the framework for both
digital and analytics preparedness. It
supports a variety of products and
services covering assets and liabilities
and can fit the business and operating
model of a bank with an assured
24x7x365 availability.
“Community banks like PSB want to
give their customers superior digital
banking experiences and launch
innovative solutions and products to
meet their customers’ needs,” said
Venkateshwaran Srinivasan, Head,
TCS Financial Solutions. “TCS BaNCS
offers small to medium-sized banks
in the US a quick and easy path to
digital transformation that helps them
realize this vision.”
l
Chartered in 1897, Peoples State Bank is a widely recognized
agriculture lender in Kansas and has the sought-after status
as a United States Department of Agriculture (USDA)
Farm Service Agency (FSA) Preferred Lender in the FSA’s
Preferred Lender Program (PLP). In addition to its agricultural
lending, Peoples State Bank offers a broad range of products
and services including commercial and consumer lending
as well as variety of retail deposit offerings.
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