IBS Intelligence’s Post

A tier-1 bank in Asia is transforming its banking environment completely and securely with TCS BaNCS, while it sets out to surpass the real-time availability of its customer services. Watch the video to know more- https://lnkd.in/gMAudM9t #bankinginnovation #microservicesarchitecture #comprehensiveAPIs #frictionlessjourneyswithtcsbancs

Excited and looking forward to this discussion with Saptadeep Basu and Vikram Sud. So much is happening in the payments space and this is as good a spot to listen in on some great insights and conversation. Registration link below. See you all on the 9th November.. #banking #payments #webinar #leadership #paymentstransformation #hexaware

“Frictionless finance” is a phrase we use to describe an ideal state for customer journeys in financial services. In all our customer engagements and product development agenda, we are constantly striving to eliminate or reduce friction, between customers and their financial objectives. Equally important though is knowing when friction is necessary. Just as a frictionless highway would be unsafe, so would be a “one-click” SMS that empties your bank account. Our goal is to have frictionless customer journeys leading to the moments where friction is necessary and appropriate. In this issue of the TCS BaNCS Research Journal, we highlight several examples across commercial lending, retail transaction banking, asset servicing, etc., as we constantly set the bar higher toward this goal. Grab your copy of our latest edition at Booth #A10, Sibos. Read on: Read on: https://lnkd.in/g8cK7TGV Tata Consultancy Services Tata Consultancy Services - North America #finance #customerjourney #frictionlessjourneyswithtcsbancs #innovation

***Navigating the Seamless Migration: Lessons from Citibank's Transition to Axis Bank*** As Indian Customers (including mine) Citibank Retail accounts transition to Axis Bank following Citi's sale of its Indian retail business to Axis, I've gained valuable insights from a project management perspective on handling large scale migration projects. The migration process, though lengthy, had minimal impact for those who paid attention to the regular communication emails from Axis and Citi. Here are some key learnings: 1. Regular Communication: Consistent updates and clear communication are crucial. Axis and Citi ensured that account holders were well-informed throughout the process, reducing confusion and uncertainty. 2. Proper Process Followed: The meticulous adherence to a well-defined process ensured a smooth transition. Every step was clearly outlined and executed, showcasing the importance of structured planning in project management. 3. Minimal Impact to End Users: One of the standout aspects was the minimal disruption to account holders. Despite the scale of the migration, Axis managed to keep the impact on customers to a minimum. 4. Seamless Backend Migration: In scenarios where user involvement was not necessary, such as with mutual funds, the migration was handled seamlessly in the backend. This approach minimized the burden on end users and demonstrated efficient management of backend operations. Additionally, I was impressed by Axis Bank's ability to complete the upgrade without substantial downtime (atleast for my day to day usage), especially in comparison to my experience with HDFC Bank and it's frequent downtimes (even facing penalties from the RBI for outages). Axis managed a much smoother transition. Fingers crossed for receiving the same excellent services from Axis Bank that I enjoyed with Citi from this Monday👍🏻 Citi India Axis Bank HDFC Bank #PMO #ProjectManagement #Migration #FingersCrossed

Look forward to seeing you all there as a very interesting panel discusses on “India Goes International : Opportunities , Risks and Enablers ” .

"Exciting news! Nitin Sirohi, VP and Global Head TCS BaNCS for Banking, Tata Consultancy Services is set to join us as a Speaker at 8th ALL INDIA URBAN COOPERATIVE BANKING SUMMIT 2024! Get ready for a thought-provoking session filled with invaluable insights and inspiration. Mark your calendars and stay tuned for updates. Don't miss this chance to learn from the best! #crestinfomedia #cooperative #banks #summit2024 #speaker #knowledgesharing"

How can technology and contextual knowledge help create solutions that are driven by purpose? In this issue of TCS BaNCS research journal, we showcase some examples of how purpose-driven solutions can eliminate or reduce friction in customer journeys in financial services. In the article “Eliminating friction in report generation, relationship pricing, and cross-entity transactions”, I share some insights on how TCS BaNCS solution enables frictionless digital financial journeys for the bank and its customers. https://lnkd.in/g8cK7TGV

Canada's open banking framework prioritizes consumer safety and security. Virtusa helps financial institutions navigate the evolving regulatory landscape to ensure compliance and build customer trust. Learn more: https://lnkd.in/ebsyFMBN #OpenBanking #FinTech #EngineeringFirst #ConsumerBanking