Tata Consultancy Services Ltd. said Zions Bancorporation, one of America's premier financial services companies, had chosen TCS BaNCS for its core banking transformation program to achieve standardization, centralization and straight through processing across the enterprise.
In addition to the cost saving benefits, the ability to have a single, 360 degree view of its end-user customers is a key focus of the core replacement program, the company said.
The company said the transformation would be completed in phases, with Zions' management expecting significant improvements in operational efficiency and customer experience, and reduced operational and financial risk stemming from older legacy systems.
Zion Bancorporation CIO Joe Reilly said, "TCS demonstrated commitment and focus during the engagement process and earnestly showed us how we could leverage TCS BaNCS technology to achieve our objectives. The flexibility of the solution and speed of deployment were key criteria in our selection process. The modular components and multi-entity capability of TCS BANCS tightly fits into our technology landscape."
TCS Financial Solutions President N. Ganapathy Subramaniam commented, "We are delighted that Zions Bancorporation has chosen TCS as technology partner to transform their enterprise. We are taking the model bank approach to translate Zions Bancorporation's vision in to a reality. By deploying TCS BaNCS, they can streamline and standardize their entire suite of products from both the bank's and customer's point of view in the United States."