Leading Advisory Firm Lauds Zions’ Migration to TCS BaNCS in Comprehensive Case Study 

Tata Consultancy Services (TCS), (BSE: 532540, NSE:TCS), a leading IT services, consulting and business solutions organization, announced that its customer Zions Bancorporation has won Celent’s Model Bank award for the Best Legacy Transformation, after the successful implementation of TCS BaNCS for Core Banking.

Commenting on the award, Zions’ Chief Information Officer – Jennifer Smith said, “This accolade is a testimony to our vision, which was shared by TCS from the outset. We embarked on a mission to solve customer and employee pain points; simplify and substantially reduce risk for Zions; become agile in adapting digital technology to exceed customer expectations and fulfil regulatory compliance. Receiving a Model Bank award from Celent is an exciting recognition of the complex roadmap and compelling journey that we have embarked upon together.”

Venkateshwaran Srinivasan, Head – TCS Financial Solutions said, “We congratulate Zions on this accomplishment and are glad to be preferred partners in its transformation. At the heart this program was a focus on customers, simplification and operating efficiency in addition to reducing risk. This TCS BaNCS program is helping Zions to get future ready in terms of customer and employee experience and we believe that a number of banks have compelling reasons to travel a similar path.”

The selection process for the Model Bank Awards involves a rigorous evaluation of the nominations submitted by financial institutions by Celent’s Banking analyst team. Submissions are judged on three primary criteria: demonstrable business benefits of implemented initiatives; the degree of innovation relative to the industry’s standards; and the technology or implementation excellence.

“We rarely see this depth of partnership between a bank and a vendor, and Zions’ willingness to be a trailblazer by using an international firm to implement a modern, modular, and flexible core system speaks to the vision of its leadership.” Outlining the importance of culture in such a huge transformation Stephen Greer, Senior Analyst at Celent, added “Zions is undergoing a major shift in operations and technology to reach its strategic goals. Through an extended migration process and comprehensive change management, Zions has been able to achieve a significant shift in culture as it drives towards a frictionless customer experience.”