Top 8 of 10 financial institutions in South Africa powered by TCS BaNCS
Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, announced that Mercantile Bank Limited (MBL), South Africa, has successfully transformed its banking operations with TCS BaNCS Digital. With this modernization of technology, the Bank has significantly elevated customer touch points of browser, mobile and tablets into a seamless digitally immersive experience.
Mercantile Bank wanted to provide an omni-channel experience for its Small and Medium Business customers and enhance the value and services it provides. The Bank selected TCS BaNCS Digital for its hybrid architecture, responsive web design and functional richness for the market. With the solution, MBL can now deliver channel agnostic business banking, with an intuitive, interactive and instantaneous experience across multiple devices. The solution’s scalability ensures that large volumes of transactions are managed by the Bank with ease.
TCS BaNCS Digital is designed with business aware intuitive widgets and a robust middleware platform that allows the solution to be agnostic to back-end systems. The hybrid architecture-based solution delivers retail and business banking capabilities, including several types of payments, credit cards and tax filing, and is integrated with South Africa’s national tax payments Infrastructure. The solution is also designed to deliver end users with optimized bandwidth consumption and an instantaneous touch experience.
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Karl Kumbier, Chief Executive Officer at Mercantile Bank, said, “TCS BaNCS Digital is easy to use, secure, agile, and flows intuitively, which makes it a great user experience-based banking platform. It fully integrates with private and business banking, and allows for payments directly to SARS (South African Revenue Service) via SARS E-Filing. It is designed to be simpler and rests on the three pillars of security, speed and convenience. Since the launch of our new solution, customer satisfaction of our online channel is at 86.7% for our Bank. We look forward to working with TCS in leading the South African market through digital innovation.”
SathishVallat, Head, TCS BaNCS Digital, said, “TCS BaNCS Digital is operational at MBL, deepening customer engagement levels through an omni-channel business banking experience. Our enterprise and consumer app strategy with hybrid architecture adoption and alignment to industry standards has enhanced business innovation while delivering value to end customers. Our partnership with a challenger Bank like MBL who focuses on building a better experience for SME banking positions us as the future solution for financial institutions who look at ‘place’ as a customer mindset rather than a geographic location. With 8 of the top 10 financial institutions being powered by TCS BaNCS in South Africa, we continue to remain the partner of choice in the region.”