TCS BaNCS to power Israel’s 1st fully Digital Bank

India’s IT giant, Tata Consultancy Services (TCS) will launch Israel’s first fully digital bank. The digital bank has not been named yet and will be launched in 2021. The digital banking operations platform will be powered by the TCS BaNCS Global Banking Platform.

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Israel’s Ministry of Finance selected TCS to transform its banking sector. TCS helps Israel to build a banking service bureau that would serve as a shared, plug-and-play, digital banking operations platform – powered by the TCS BaNCS.

What is TCS BaNCS?

The TCS BaNCS universal financial solution is designed to help financial services institutions enhance end-customer experience, enabling them to embrace open and innovative technologies that embody true digital customer engagement.

Important takeaways for all competitive exams:

  • Israel Capital: Jerusalem, Currency: Israeli new shekel.
  • Prime Minister of Israel: Benjamin Netanyahu.
  • Natarajan Chandrasekaran is Chairman of the Board of Tata Sons.

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