TCS Head Office: Nirmal Building, 9th floor, Nariman Point, Mumbai 400 021, India. Tel: +91 22 6778 9595. Email:
global.marketing@
tcs.com Other Offices: TCS has operations in 44 countries. TCS Financial Solutions has eight regional support centres in Australia, China, India, Singapore, Switzerland, UAE, the UK and the US. TCS Financial Solutions Head Office: Tata Consultancy Services, Unit 6, Plot No. 78, 79 & 83, Whitefield, Bangalore - 560066, Karnataka, India. Tel: +91 80 6725 3000 Email:
tcs.bancs@
tcs.com Website:
www.tcs.com/Bancs Twitter: @TCS_BaNCS Contact: Dennis Roman (chief marketing officer). Email:
dennis.roman@
tcs.com Tel: +1 954 423 3560. Founded: TCS in 1968. TCS Financial Solutions in 2007. Ownership: Tata Consultancy Services (TCS) Limited is a public limited company, listed on the BSE and NSE in India. TCS Financial Solutions is a strategic business unit of TCS. Number of Staff: TCS employs 300,000+ staff, 4200 in TCS Financial Solutions, of which 420 are working on payments Number of clients: 440 Principal partners: IBM, Microsoft Payments products: TCS Bancs Payments, TCS Bancs Compliance Categories: Retail payments processing, Wholesale payments processing
Product suite
TCS Bancs Payments is touted as taking an ‘end-to-end’ approach towards the payment processing value chain. It includes a routing capability to identify and send high-value and low-value payments to their respective processing and destinations. Three
elements make up the integrated payment
processing cycle. These are: TCS Bancs Payments for integrated back office payment processing for multiple products like credit transfers and direct debits; TCS Bancs Compliance for AML-oriented list scanning and other checks and transaction filtering; and TCS Bancs Channels for direct access to payments initiation and related information for the customers of the bank.
The company has been claiming a SOA approach for some time for the TCS Bancs product portfolio, with this intended to enable banks to achieve the end-to-end integration of the payment value chain from IT, business and customer standpoints. The system can be integrated with a bank’s third party core banking system, so does not need to be delivered with TCS Bancs.
A Channels solution is geared towards the delivery of services to the bank’s corporate customers over internet channels. An internet-based retail payments channel was being added in 2009 with a pilot bank. Utility bill payments were added over a release (4.1) towards the end of 2008 and a further release (5.0) in mid-2009. TCS offers a solution for SEPA Credit Transfers and in 2009 was testing a solution for SEPA Direct Debits with Société Générale. It had previously offered tactical solutions related to SEPA through its Service Integrator, which can handle XML- based messages.
278 TCS Bancs Payments is a multi-entity, multi-country
integrated back office payment processing system for multiple products. It provides interfaces to Swift and a number of ACHs and RTGSs; payments can be processed for corporates and correspondents. TCS Bancs Payments is SEPA and Target2 compliant. It has SwiftReady certification. An internet-based customer channel framework is also provided, along with an application integration framework.
The system handles the following payment types:
Correspondent banking (Swift); high-value payments (RTGS clearing and settlement); low-value payments (transfers and direct debits); local products such as cheques and bills of exchange.
In addition to back office payments processing, the product
also provides functionality relating to customer agreement data management; pricing conditions; customer reporting; account and cash management features (optional). TCS Bancs Payments is based on a J2EE framework and runs on Unix, Windows and Linux-based servers, using RDBMS. Oracle is offered as a standard option, but there are also plans to make the product available on DB2 UDB. The product is architecturally database independent. The system has a browser-based presentation layer using Java JSP and a Struts framework. Industry interfaces are provided to SwiftNet FIN, ISO 20022, SEPA CSM (EBA STEP2) and Target2.
Interfaces to the national clearing of a number of countries
are available, including Switzerland, the UK, Spain, Germany, Italy, the US, South Africa and Saudi Arabia.
Payment Systems & Suppliers Report |
www.ibsintelligence.com
company details
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