Tata Consultancy Services TCS BaNCS to Help Accelerate Adoption of Payments Canada’s Modernization lnitiatives

TCS BaNCS to Help Accelerate Adoption of Payments Canada’s Modernization lnitiatives



Tata Consultancy Services (TCS),  a leading global lT services, consulting and business solutions organization, announced the launch of TCS BaNCS for Payments in Canada to help banking and financial institutions accelerate adoption of Payments Canada’s Modernization initiatives to enhance their global competitiveness, and deliver a next-generation payments experience to their customers.

TCS BaNCS for Payments is a proven payments processing solution, currently available in 25 markets,
including the US, UK, Europe, MEA, APAC and Africa. TCS is launching this solution in the Canadian market
to help financial institutions adopt \SO2OO22, real-time payments and leverage payment overlay services
rapidly to deliver differentiated customer experiences, while complying with Canadian banking and data
privacy regulations. The solution can be deployed on the cloud or on premise based on the customer’s

TCS BaNCS for Payments is an integrated solution, natively built on ISO 20022 standards, with extensive
end-to-end, multi-product/ multi-rail payment processing capabilities. The solution is built on a modern
architecturb that enables easy integration with customer channels, internal systems, market
infrastructure and ecosystems, leveraging AP|-driven capabilities to create a differentiated digital

TCS BaNCS for Payments is a SWIFT Ready and SWIFT gpi Ready certified solution and supports real-time
payment processing across multiple geographies, entities and currencies. lt also offers unified monitoring
of operations, integrated Management lnformation Systems (MlS), payments analytics, real-time visibility
for cross-rail limits, and integrated liquidity, AML and fraud monitoring. lntegrated with the TCS’ Quartz
Gateway, this solution enables processing of payrnents on blockchain platforms and ecosystems
seam lessly, thereby future-proofing fi na ncia I i nstitutions

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