Source Name: Tata Consultancy Services Ltd.

Axis Bank goes Live on India’s First ever Enterprise Payment Hub

TCS BaNCS to enable innovation, efficiency and world-class services to customers

Sep 30, 2015 12:30 IST

Mumbai, Maharashtra, India

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions organization, announced that its client Axis Bank has implemented a state of the art enterprise payments hub(EPH) on a modern architecture powered by TCS BaNCS. Axis Bank’s vision was to create new levels of customer service by delivering both of innovation and efficiency.

Commenting on the selection of TCS BaNCS, Amit Sethi CIO, Axis Bank said “EPH solution is built with TCS BaNCS solution for payments processing engine, branch channel, and corporate service channels. The enterprise payment hub has enabled us to provide cutting-edge features to our clients in the domestic payments space - we are able to empower our sales teams to design and deliver highly customised solutions across corporate, government, financial institutions and SME segments. With our increased ability to handle additional volumes, we are able to acquire and execute customer transactions much closer to the cut-off timings - this is a very powerful element of our service proposition. Within a year, the platform has successfully scaled to support payments transaction volume growth of more than 30%. With modern technology and the best of standards like ISO20022 and SoA at the core, EPH platform is a key enabler of our continued growth in the Digital world."

N Ganapathy Subramaniam, President, TCS Financial Solutions said “We are glad to support Axis Bank’s vision of a centralized Payments Solution helping banks and corporations to manage payments, support financial messaging, automate payables and receivables, and optimize liquidity. We have invested in the right technology and believe TCS BaNCS Payments will help our customers in their journey of digital transformation.”

About TCS Financial Solutions
TCS Financial Solutions is a strategic business unit of Tata Consultancy Services. Dedicated to providing business application solutions to financial institutions globally, TCS Financial Solutions has compiled a comprehensive product portfolio under the brand name of TCS BaNCS. Our mission is to provide best–of-breed solutions that drive growth, reduce costs, mitigate risk and offer a faster speed-to-market for our clients. With a global customer base of more than 280 institutions operating in over 80 countries, TCS Financial Solutions deliver state-of-the-art software solutions for the banking, insurance and capital markets industries worldwide. For more information, visit us at www.tcs.com/bancs.

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 324,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $15.5 billion for year ended March 31, 2015 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.