TCS BaNCS has replaced Zions’ legacy loan systems, which had been customized for each of their affiliate community banks, with a single digital core, as part of the bank’s larger strategic vision of modernizing its technology landscape. The bank had earlier deployed TCS BaNCS to transform its retail loans portfolio.

By unifying all lending operations on TCS BaNCS, Zion has become more customer centric, is gaining from the benefits of scale, simplifying its IT landscape, and enabling faster time to market. Zions is also deploying the TCS BaNCS solution to replace its legacy deposits and teller platforms.

Scott McLean, President and COO, Zions Bancorporation, said, “The successful deployment of TCS BaNCS for our commercial lending business marks the next phase of our digital transformation strategy. With TCS BaNCS, we have been able to retire multiple core legacy systems and provide a unified, customer-centric view of information and transactions across our affiliate banks, while also retaining their individual branding. Banking businesses constitute approximately 70 percent of our revenues, and we will now be better positioned to evolve with our customers’ needs in the future and launch new products and services. The centralization of our operations on TCS BaNCS is helping us enhance customer and employee experience and leverage data for insightful analytics and intelligent decision-making.”

Commenting on the successful deployment of TCS BaNCS for commercial and real estate lending at Zions Bancorporation, Venkateshwaran Srinivasan, Vice President and Head, TCS Financial Solutions said, “TCS BaNCS will establish a strong foundation for a more agile business at Zions, empower their digital initiatives and significantly improve customer service and data quality.”

He added, “As part of TCS’ Business 4.0TM vision, TCS BaNCS has been enabling customers who are looking to deploy API enabled solutions with real-time transaction processing and data accessibility to enable a digital enterprise. There are several institutions grappling with the constraints of a legacy platform and the ongoing transformation at Zions should be of interest to them.”

TCS BaNCS for Core Banking helps banks and financial institutions cater to customers’ needs throughout their journey, based on anticipated requirements, and over the devices of their choice. Designed on the Digital First, Cloud First philosophy, the solution comes with a high performing processing engine and open banking capabilities. It is a collection of loosely coupled components, services and APIs that implement standards from BIAN and IFX, which are architected to fit within a wide range of technology environments seamlessly, laying the framework for both digital and analytics preparedness. It supports a wide range of products and services covering assets and liabilities, and can be deployed to fit the business and operating model of a bank with an assured 24x7x365 availability, as evidenced at the 450 sites where it has been installed successfully.