Tata Consultancy Services (TCS), India’s largest information technology (IT) services firm by market cap, announced earlier today that it has won a digital transformation deal from Swedish retail and commercial bank, Ikano Bank, founded by Ikea founder, Ingvar Kamprad. While the total value and duration of the deal was not disclosed, the move will see TCS offer its BaNCS cloud platform to unify Ikano’s pan-Europe core banking solution to consumers as well as enterprises. A joint press statement by TCS and Ikano Bank said that the adoption of BaNCS will see the latter’s core banking services, which are presently fragmented and sourced from multiple technology service providers, be unified under the same cloud platform. “(Ikano) runs on different core banking solutions in the eight countries it operates in, working with multiple broker solutions and agency banking arrangements in each. This led to country-wise silos within the organization, hindering unified risk management and a consistent customer experience.” The adoption of the new platform, according to Ikano, will help the bank “support rapid launch of new products, and expansion into new markets.” TCS has previously offered its BaNCS platform to multiple global banks, which include South Africa’s Absa CIB in August […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
