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ZIONS BANCORPORATION GOES LIVE ON TCS BANCS CORE BANKING SOFTWARE

Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, announced today that Zions Bancorporation has gone live on TCS BaNCS for Core Banking with the successful transition of Zions Bancorporation’s Consumer Lending business over to the TCS BaNCS platform, a major milestone in the North American Banking industry’s march towards  modernization.

Zions Bancorporation selected TCS BaNCS after an extensive review of U.S. and global core banking vendors.  The core transformation program, titled “FutureCore,” is divided into phases and Consumer Lending for the 7 affiliate banks is the first phase to go live, with other phases to follow.

Scott McLean, President & COO of Zions Bancorporation said. “The completion of this consumer lending installation represents our first step toward having a fully integrated core loan and deposit system. This project has served as an impetus for us to address customer and employee frustration points, simplify and de-risk how we do business, and make us more agile in adapting to future digital technology, customer and regulatory expectations. Ultimately, having a simplified back office and providing significantly greater information to our frontline bankers has a meaningful impact to customers,”  “This core transformation initiative is foundational to our digital transformation objectives: to improve the customer experience, digitize and streamline operations, and better leverage our data assets to better serve our customers.”

Ashvini Saxena, Head – Americas for  TCSBaNCS said, “The successful deployment of TCS BaNCS at Zions is testimony to the commitment from both Zions and TCS to make this happen. It’s a significant landmark not just for TCS and for Zions,  but for the banking industry in North America. The TCS BaNCSdeployment provides Zions a parameterized, US market compliant,  real-time solution,  sets up Zions to go Digital, be nimble &  efficient and shift to a customer centric approach.

Commenting on the go-live, Joe Reilly Chief Technology Strategist of Zions Bancorporation, said “TCS’ experience in large program delivery has been demonstrated extensively throughout the FutureCore program. We selected TCS because of  the TCS BaNCS product’s rich functionality, their extensive track record of successful implementations around the world, and their focus and flexibility in ensuring that our program is a success really stands out,”