TCS BaNCS to modernize American lender Central Bank's core technology infrastructure

TCS BaNCS is a comprehensive financial solution designed to empower financial institutions to enhance customer experiences through advanced technologies.

According to TCS, a leading IT services, consulting, and business solutions provider, the strategic partnership between Central Bank, headquartered in Jefferson City, Missouri, and TCS aims to establish seamless and flexible customer onboarding processes, supporting the bank's ongoing expansion endeavours.

TCS emphasized that Central Bank manages assets exceeding $20 billion, serving more than 150 locations across 78 communities in Missouri, Kansas, Illinois, and Oklahoma.

The bank's decision to deploy TCS BaNCS underscores its commitment to adopting state-of-the-art technology to streamline operations and enhance customer engagement.

TCS highlighted that the bank's staff will have access to comprehensive customer relationship insights through real-time processing capabilities, enabling them to rapidly create and introduce innovative products.

The solution will include pre-integration with TCS BaNCS for Payments, a solution prepared for ISO 20022 standards, enabling the bank to offer FedNow services and RTP through The Clearing House.

Venkateshwaran Srinivasan, Global Head of Financial Solutions at TCS, emphasized the suitability of TCS BaNCS for institutions committed to significant innovation, highlighting the partnership with Central Bank for their digital transformation journey.

“We are happy to partner with Central Bank in their digital transformational journey. Our extensive investments in TCS BaNCS, contextual knowledge of the financial services industry, and strong track record in execution make us the preferred solution partner for preeminent institutions such as Central Bank that are dedicated to innovating at scale,” Srinivasan said.

John Ross, President and CEO of Central Bank, stated that choosing TCS as a partner for their core modernization was a natural decision due to shared commitment to technology and customer experience. Ross said, “When the decision was made to modernize our core as part of a long-term strategy, we looked extensively for a true partner. Given our shared commitment to technology and its role in the customer experience, TCS, with its TCS BaNCS product suite, was a natural choice for Central Bank.”

Amit Bajaj, President of TCS North America, underscored TCS' track record of successful partnerships with regional banks and institutions in North America. He emphasized the pivotal role of TCS BaNCS in facilitating Central Bank to provide a smooth and flexible onboarding process for its growing customer base.

"TCS’s longstanding partnerships with regional community banks, credit unions, and financial institutions continue to expand as we serve multiple such local and regional banks in North America. We have been working with these financial institutions to modernize their core platforms so they can adapt to their customers’ ever evolving digital needs. With TCS BaNCS, Central Bank will get a jumpstart and now offer a frictionless and flexible onboarding process that meets the needs of its growing customer bass," Bajaj said.